Crushed Stones Global Market Report 2024

The crushed stones market size has grown strongly in recent years. It will grow from $4.12 billion in 2023 to $4.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to the demand from the construction industry, infrastructure development, utilization in railway ballast, landscaping, decorative applications, and the combined factors of economic growth and urbanization.

The crushed stones market size is expected to see strong growth in the next few years. It will grow to $6.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be linked to global infrastructure projects, the construction of renewable energy facilities, sustained growth in the construction industry, the development of smart cities, and increased activities in residential and commercial construction. Significant trends expected in the forecast period include the integration of e-commerce and digital platforms in aggregates trade, the growing utilization of crushed stones in landscaping, innovations in the development of aggregate products, market expansion in developing regions, and the formation of strategic alliances for resource optimization.

The growth observed in the crushed stone mining market is a result of the increasing emphasis on road construction in highly developed countries such as the US and Canada, driven by escalating infrastructure development. Road construction encompasses both the creation of new roadways and the transformation of existing unpaved roads into paved ones.

Anticipated expansion in the crushed stone market is linked to the growing demand for concrete materials in the upcoming years. Concrete materials, constituting various elements used in concrete manufacturing, play a pivotal role in construction. Crushed stones, also referred to as aggregates, are essential components in concrete, serving as the foundational material for this versatile construction substance. They contribute strength, stability, and texture to concrete, influencing its overall performance and aesthetic. As of August 2023, based on data from the UK Department for Business and Trade, ready-mixed concrete sales experienced a 9.6% increase in the first quarter of 2023 compared to the preceding quarter of 2022, underscoring the surging demand for concrete materials that propels the crushed stone market.

The adoption of Precision Surface Excavation Machines is on the rise due to their ability to reduce noise and pollution, particularly in environmentally sensitive areas. These machines employ a slicing drum to mechanically unearth materials, presenting advantages over traditional drilling and blasting methods, aligning with key trends observed in the global crushed stone mining market.

Leading companies in the crushed stone market are placing emphasis on strategic collaboration to deliver dependable services to customers. Strategic collaboration involves mutually beneficial partnerships between independent entities working together to achieve shared goals in alignment with their individual strategic objectives. For instance, in December 2022, Caterpillar Inc., a US-based manufacturing company specializing in mining, construction, and other engineering equipment, announced a partnership with Luck Stone, a US-based manufacturing company of sand, crushed stones, and gravel. This collaboration allows Caterpillar to gain a deeper understanding of quarry operations, enabling the customization of the next generation of autonomous solutions for quarry and aggregate applications. The project promotes the swift development of autonomous technology, particularly in activities involving fewer mobile assets, fostering a significant enhancement in safety and productivity, mirroring trends observed in major mining operations.

Major companies operating in the crushed stones market report are 3M Company, CRH PLC, Holcim Group, Cemax S.A.B. de C.V., Vulcan Materials Company, Martin Marietta Materials Inc., Lehigh Hanson Inc., Buzzi Unicem USA Inc., Granite Construction Inc., Lhoist North America Inc., Summit Materials LLC, Luck Stone Corporation, Hanson Aggregates Limited, The Shelly Co., Ash Grove Cement Company, Carmeuse Lime & Stone Inc., The H&K Group Inc., Dolese Bros. Co., Rogers Group Inc., HeidelbergCement AG, Vecellio & Grogan Inc., York Building Products Co. Inc., New Enterprise Stone & Lime Company Inc., Tilcon New York Inc., The Kraemer Company, Wendling Quarries Inc., National Lime and Stone Company, Boxley Materials Company, Eucon Corporation, Bluegrass Materials Company, Mulzer Crushed Stone Inc.

Western Europe was the largest region in the crushed stones market in 2023. The regions covered in the crushed stones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the crushed stones market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The crushed and broken stone mining and quarrying market includes revenues earned by entities by constructing or building roads and getting used in chemical applications. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The primary categories within crushed and broken stone mining and quarrying encompass limestone mining, granite mining, and other types of crushed stone mining. In the context of limestone mining, it specifically refers to operations where the principal resource mined is the primary calcium or magnesium carbonate. This includes materials such as shell and coquina, along with the associated processing facility, water control system, and settling ponds. Mining methods include both underground mining and surface mining.

The crushed stones market research report is one of a series of new reports that provides crushed stones market statistics, including crushed stones industry global market size, regional shares, competitors with a crushed stones market share, detailed crushed stones market segments, market trends and opportunities, and any further data you may need to thrive in the crushed stones industry. This crushed stones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.