by The Philippines construction aggregates market comprises crushed stone, sand and gravel, and crushed slag which are widely utilized in construction activities such as infrastructure development, buildings, and housing projects. Construction aggregates find ample applications in concrete manufacturing, road base and coverings, and asphaltic concrete. They provide essential properties to concrete like workability, pumpability, and durability. The increasing construction outlay toward development of transportation, energy, and social infrastructure has strongly driven the demand for construction aggregates in the country.
Philippines Construction Aggregates Market is estimated to be valued at US$ 3.76 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Philippines construction aggregates market are Holcim Philippines Inc, Metrocem Cement Ltd, Eagle Cement Corp, Island Quarry & Aggregates Corporation, Pacific Cement Phils Inc, Union Galvasteel Corporation (UGC), San Miguel Northern Cement Inc. (SBNCI), Atlanta Industries Inc., Concrete Stone Corp, and Mav Companies Aggregates Inc. The Philippines government has charted out infrastructure development plans worth US$ 180 billion over the next six years to overcome infrastructure deficit which will generate key opportunities in construction aggregates market. With increasing urbanization and growing population, the demand for housing and building construction is also expected to rise rapidly in Philippines which will drive the overall expansion of construction aggregates market globally over the coming years.
Market Drivers
The rapid infrastructure development projects in Philippines including roads, airports, seaports, railways, and urban transit systems is one of the major drivers boosting the consumption of construction aggregates in the country. As per data, Philippines government aims to spend around 5-6% of its GDP annually on infrastructure which will propel the demand for crushed stones, sand, and gravel from aggregates producers. Also, increasing private sector investments and public-private partnerships (PPPs) in construction sector will continue fueling the consumption of construction aggregates during the forecast period.
PEST Analysis
Political: The government has announced substantial investments in infrastructure projects like roads, bridges, ports, railways, and airports which will boost demand for construction aggregates. However, strict environmental regulations regarding mining and land acquisition can negatively impact supply.
Economic: Steady economic growth and rising disposable incomes are increasing demand from residential and commercial construction sectors. The government is also promoting foreign investments in infrastructure to further accelerate growth. However, rising costs of labor and transportation raise production costs for aggregates producers.
Social: Rapid urbanization is leading to increased construction of residential and commercial buildings in major cities driving demand. However, skilled labor shortage remains a challenge for the construction industry.
Technological: Producers are adopting autonomous hauling trucks and drilling & blasting systems to boost productivity and yield from quarries. Use of construction waste as recycling material for road construction is also increasing to reduce environmental impact.
Around 60% of the total market value is concentrated in the island of Luzon particularly in the National Capital Region of Metro Manila due to high population density and strong economic activity. Major ongoing infrastructure projects like metro rail transit lines, airports, roads and bridges are boosting demand.
The Visayas region in central Philippines is the fastest growing market for construction aggregates at over 10% CAGR led by infrastructure development initiatives to improve connectivity between different islands through bridges and ports. The regional administration is promoting infrastructure led growth to decentralize economic activity from Metro Manila.
What Are The Key Data Covered In This Philippines Construction Aggregates Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Philippines Construction Aggregates’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Philippines Construction Aggregates and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Philippines Construction Aggregates Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Philippines Construction Aggregates vendors
FAQ’s
Q.1 What are the main factors influencing the Philippines Construction Aggregates?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Philippines Construction Aggregates companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Philippines Construction Aggregates’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
