The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research delivers key insights on the Africa construction aggregates market, in its latest report titled, ‘Construction Aggregates Market: Africa Industry Analysis 2014-2018 and Forecast 2019-2029’. The demand for construction aggregates across Africa is expected to remain strong, with a volume CAGR of 5.4% over 2019-2029.
Urbanization has also played a vital role in the development of infrastructural facilities across the globe. According to the World Bank, in 2016, urban population growth in Angola (3.52%), Ethiopia (2.85%), Nigeria (2.43%), and South Africa (2.1%) has been above the African average of 2.09%. Such steady growth in these developing economies is expected to drive an increase in infrastructure development activities. Governments across these emerging countries are investing huge amounts in large-scale construction projects in order to strengthen commercial infrastructure and transport in their respective economies. This is expected to, in turn, creates significant opportunities for public-private partnership construction projects in the region.
Moreover, countries such as Ethiopia, Tanzania, and South Africa, to name a few, are gradually shifting their focus towards developing themselves into service-driven economies. This shift in focus is expected to promote commercial construction activities in the region, and create opportunities for infrastructure-related investments. The growing demand for leisure activities, amusement parks, and other luxury sports venues in Africa is driving the market growth of gravel throughout the region. This is expected to create opportunities for market players in the construction aggregates market to enhance their product portfolios, and is likely to provide a much-needed boost to their revenues.
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Construction Aggregates Market: Segmentation Analysis
Construction Aggregates Market Analysis by Type
On the basis of type, the construction aggregates market is segmented into crushed stones, sand, gravel, and others. Crushed stones are widely used in the construction industry as a construction aggregate. This segment is projected to hold a prominent market share in the Africa construction aggregates market throughout the forecast period. Leading players in the construction aggregates market provide almost all the products for construction aggregates to various end users. The crushed stone segment is projected to be one of the most lucrative segments throughout the forecast period.
Construction Aggregates Market Analysis by Application
On the basis of application, the construction aggregates market is segmented into infrastructure, residential, commercial, and industrial. Growth of the construction aggregates market is primarily driven by the development of large-scale infrastructural projects in the developing countries of Africa, such as Tanzania, Ethiopia, and many others. The governments of major economies are continuously working on the development of transportation facilities and strengthening their energy (power generation) infrastructure.
Infrastructure development is playing a significant role in the turnaround of the Sub Saharan economy. Growing investments in mega infrastructure projects such as highways, power generation plants, dams, etc., are strengthening the construction industries in these regions. Some of the key infrastructure projects are DoE – Uping ton Solar Power Park 5000 MW in South Africa, ANESRIF–East Mining Line in Algeria, KRC – Mombasa to Malaba Standard Gauge Railway Line in Kenya, etc. Such projects are contributing to the economic growth of these countries, as well as the construction industries of these regions. In infrastructural development, the transport sector continues to lead the way with almost 40% of the 482 projects tracked being either bridges, roads, or rail. Such factors are projected to boost the demand for construction aggregates in Africa during the forecast period.
Construction Aggregates Market Analysis by Region
From a regional perspective, Sub Saharan Africa is estimated to account for prominent market share in the Africa construction aggregates market, owing to the positive outlook for infrastructure, and also industrial applications. In the year 2019, Sub Saharan Africa is projected to hold a share of ~64.1% in the Africa construction aggregates market. The construction aggregates markets in Ethiopia and Tanzania are anticipated to expand at relatively higher growth rates, owing to the growing construction industry with relatively high growth for the development of new infrastructure & buildings, and energy and power plants, among others, which, in turn, is projected to drive the demand for construction aggregates. The construction aggregates market in Northern Africa is projected to be a lucrative market, and is projected to grow at a volume CAGR of 5.8% during the forecast period.
- Lafarge Holcim ltd
- Cemex SAB de CV ADR
- PPC Limited
- Heidelberg Cement group
- WG Wearne Limited
- Harsco Corporation
- Raubex Group Limited
- Votorantim Cimentos
- African Conmat Industries Ltd.
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