Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates Market

The article provides a detailed analysis of the global market for gravel, pebbles, and crushed stone used in concrete and road aggregates, forecasting growth in consumption and market value from 2022 to 2030. Key points include a projected CAGR of +3.0% in volume and +5.3% in value, with China leading in consumption and production. Import and export trends, major importing and exporting countries, as well as average prices per ton are also discussed, highlighting fluctuations and growth rates in various market segments.

Market Forecast

Driven by rising demand for gravel, pebbles and crushed stone for concrete and road aggregates worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 15,522M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $1,233.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

In 2022, approx. 12,245M tons of gravel, pebbles and crushed stone for concrete and road aggregates were consumed worldwide; with a decrease of -3.7% against the previous year. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by 9.7%. Over the period under review, global consumption of hit record highs at 17,192M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The revenue of the market for gravel, pebbles and crushed stone for concrete and road aggregates worldwide declined to $813.1B in 2022, reducing by -4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a slight downturn. Global consumption peaked at $1,204.6B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of consumption of gravel, pebbles and crushed stone for concrete and road aggregates was China (2,510M tons), comprising approx. 20% of total volume. Moreover, consumption of gravel, pebbles and crushed stone for concrete and road aggregates in China exceeded the figures recorded by the second-largest consumer, India (968M tons), threefold. The United States (884M tons) ranked third in terms of total consumption with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +3.2%. In the other countries, the average annual rates were as follows: India (+2.6% per year) and the United States (-1.1% per year).

In value terms, the United States ($122.9B), Japan ($65.4B) and Pakistan ($29.5B) appeared to be the countries with the highest levels of market value in 2022, with a combined 27% share of the global market. China, India, Ethiopia, Indonesia, Bangladesh, Brazil, Turkey, Nigeria, Mexico and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 10%.

Among the main consuming countries, China, with a CAGR of +5.9%, recorded the highest growth rate of market size over the period under review, while aggregates for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of gravel, pebbles and crushed stone for concrete and road aggregates per capita consumption in 2022 were Japan (3.1 ton per person), Turkey (3 ton per person) and the United States (2.6 ton per person).

From 2012 to 2022, the most notable rate of growth in terms of aggregates, amongst the main consuming countries, was attained by China (with a CAGR of +3.1%), while aggregates for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

In 2022, global production of gravel, pebbles and crushed stone for concrete and road aggregates shrank to 12,256M tons, falling by -3.7% compared with the previous year. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 9.7%. Over the period under review, global production of reached the maximum volume at 17,177M tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, production of gravel, pebbles and crushed stone for concrete and road aggregates contracted slightly to $816B in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17%. Over the period under review, global production of attained the maximum level at $1,208B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of production of gravel, pebbles and crushed stone for concrete and road aggregates was China (2,521M tons), accounting for 21% of total volume. Moreover, production of gravel, pebbles and crushed stone for concrete and road aggregates in China exceeded the figures recorded by the second-largest producer, India (975M tons), threefold. The third position in this ranking was taken by the United States (870M tons), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +3.2%. The remaining producing countries recorded the following average annual rates of production growth: India (+2.7% per year) and the United States (-1.1% per year).

Imports

World Imports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

In 2022, global imports of gravel, pebbles and crushed stone for concrete and road aggregates contracted to 169M tons, reducing by -7.5% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, global imports of reached the maximum at 211M tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of gravel, pebbles and crushed stone for concrete and road aggregates shrank to $2.4B in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 18% against the previous year. Over the period under review, global imports of attained the maximum at $2.8B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, Singapore (20M tons), Qatar (15M tons), the United States (15M tons), Kuwait (15M tons), Bangladesh (14M tons), the Netherlands (11M tons) and Hong Kong SAR (10M tons) was the main importer of gravel, pebbles and crushed stone for concrete and road aggregates in the world, making up 59% of total import. The following importers - France (6.6M tons), Denmark (6.4M tons), Switzerland (5.7M tons), Belgium (4M tons), Luxembourg (4M tons) and Bahrain (3.7M tons) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +39.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest gravel, pebbles and crushed stone for concrete and road aggregates importing markets worldwide were the Netherlands ($243M), Singapore ($232M) and Qatar ($219M), with a combined 29% share of global imports. Kuwait, the United States, Bangladesh, Hong Kong SAR, Denmark, France, Switzerland, Belgium, Luxembourg and Bahrain lagged somewhat behind, together comprising a further 46%.

Bangladesh, with a CAGR of +39.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for gravel, pebbles and crushed stone for concrete and road aggregates stood at $14 per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7.7% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($22 per ton), while Bahrain ($9.1 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

In 2022, global exports of gravel, pebbles and crushed stone for concrete and road aggregates declined slightly to 180M tons, which is down by -3.6% compared with 2021 figures. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 34%. The global exports peaked at 200M tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of gravel, pebbles and crushed stone for concrete and road aggregates dropped modestly to $2.1B in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when exports increased by 38%. The global exports peaked at $2.5B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, Norway (27M tons), Oman (23M tons) and the United Arab Emirates (22M tons) represented the main exporter of gravel, pebbles and crushed stone for concrete and road aggregates in the world, committing 40% of total export. China (11M tons) ranks next in terms of the total exports with a 6.1% share, followed by Indonesia (4.6%) and France (4.6%). Malaysia (8.1M tons), Canada (7.6M tons), Belgium (7.3M tons), Germany (7.1M tons), India (7M tons), Belarus (6.6M tons) and the UK (4.7M tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +46.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($263M), Norway ($206M) and Oman ($186M) were the countries with the highest levels of exports in 2022, with a combined 31% share of global exports.

Oman, with a CAGR of +24.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for gravel, pebbles and crushed stone for concrete and road aggregates stood at $12 per ton in 2022, leveling off at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 7.5%. Over the period under review, the average export prices reached the peak figure at $13 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($16 per ton), while Indonesia ($6.2 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform