The Philippines construction aggregates market is primed for steady growth on account of the rising need for sustainable construction materials and government investments in infrastructure development. Aggregates such as sand, gravel, crushed stone, slag and recycled concrete are essential raw materials used across construction projects for making concrete and asphalt mixtures as well as for base and sub-base applications in road construction, housing, and commercial and industrial construction. They provide essential benefits such as high compressive strength, resistance to weathering, durability and stability when used in construction.
Philippines Construction Aggregates Market is estimated to be valued at US$ 3.76 Billion 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 rising investment in infrastructure such as roads, railways, and buildings is driving the demand for aggregates in the country. The Philippines government has outlined infrastructure spending of over $180 billion between 2016 and 2022 to connect villages and improve mobility across the archipelago. With increasing urbanization and per capita income, the real estate sector is also witnessing significant growth, thus augmenting the consumption of aggregates. Aggregates producers are expanding their geographical reach and export footprint to cater to the growing demand. Key players are also focusing on eco-friendly trends by offering recycled and eco-efficient aggregates to reduce the environmental impact of mining.
Market Key Trends
Sustainable construction is a major trend gaining traction in the Philippines aggregates market. With rising environmental concerns, producers are increasingly offering aggregates manufactured from industrial and construction waste through recycling and reuse. This helps reduce the carbon footprint and minimizes the environmental damage caused by quarrying. For example, Holcim Philippines offers EcoCrete that utilizes recycled concrete as aggregates. Similarly, companies are exploring alternate mining techniques and promoting uses of slag and recycled aggregates to move towards a greener construction ecosystem. This focus on eco-friendly trends is expected to drive the future growth of the aggregates market.
Porter’s Analysis
Threat of new entrants: The construction aggregates market in Philippines requires huge capital investments for setting up plants, quarrying and transportation facilities. Established players hold competitive advantages in terms of economies of scale and brand positioning which deter new players.
Bargaining power of buyers: Buyers in construction industry have moderate bargaining power due to availability of substitute materials and commoditized nature of product. However, players with integrated operations have an advantage.
Bargaining power of suppliers: Key raw materials like limestone are widely available locally. However, high entry barriers and requirement of long term supply agreements reduce suppliers’ bargaining power.
Threat of new substitutes: Concrete aggregates face competition from substitute construction materials like steel, aluminum and composite wood. However, high switching costs limit impact of substitutes.
Competitive rivalry: The market is dominated by few large players. Intense competition on pricing keeps rivalry high.
Geographical regions where market in terms of value is concentrated: Metro Manila accounts for around 30-35% of the total construction aggregates market in Philippines. Central Luzon region contributes around 15-20% to the overall market value due to high industrial and infrastructure development activities.
Fastest growing region: Visayas region consisting of provinces like Cebu, Negros Occidental, Bohol etc is expected to witness highest growth during the forecast period driven by initiatives towards tourism infrastructure and real estate development projects.
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