The construction aggregates market in the Philippines comprises crushed stone, sand and gravel which are extensively used in infrastructure projects such as road construction, buildings and bridges. These aggregates have high mechanical strength and durability which make them suitable building materials. The government's "Build, Build, Build" agenda is focused on massive infrastructure spending to modernize transportation networks and boost economic growth. This increase in infrastructure spending will drive significant demand for construction aggregates over the forecast period.
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 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 increasing infrastructure spending by the government through its ambitious "Build, Build, Build" program will drive the demand for construction aggregates. Technological advancements such as use of equipment for efficient mining and crushing operations have increased aggregates production.
Market Trends
Infrastructure boost: The Philippines government has earmarked around USD 180 billion for infrastructure projects till 2022, which includes highways, bridges, airports and seaports. This significant rise in infrastructure spending will augment the demand for construction aggregates.
Sustainability efforts: Aggregates producers are increasingly adopting sustainable mining practices and utilizing waste materials to reduce environmental impact. Some are incorporating construction and demolition debris into new aggregates to boost recycled content.
Market Opportunities
Public-private partnerships: The government is promoting greater private sector participation in infrastructure through PPP models. This provides opportunities for aggregates companies to partner with construction firms.
Housing construction: Rapid urbanization and demand for affordable housing present opportunities for companies to cater to the residential construction sector through value-added products.
Impact Of COVID-19 On Philippines Construction Aggregates Market
The Philippines construction aggregates market growth was impacted due to COVID-19 pandemic. During the lockdown period, construction activities declined sharply leading to a drop in demand for aggregates. Travel restrictions and supply chain disruptions affected the market negatively in 2020. However, post lockdown lifting, construction of infrastructure, buildings and housing projects resumed gradually. To boost the economy, the government announced various stimulus packages and accelerated public construction spending. Mega infrastructure projects like roads, bridges, airports and railways were prioritized to generate employment opportunities. This positive government intervention is supporting the market recovery. Although the pandemic had short term negative impacts, in the long run, increased public spending is expected to drive the demand. Further, adoption of digital technologies like 3D printing, IoT and automated systems can help the market stabilize production and logistics even during such crises. Expansion to Tier 2 and Tier 3 cities with emerging construction activities would also open new growth avenues.
Geographical regions with concentrated Philippines construction aggregates market
The National Capital Region (NCR) region accounts for the largest share of the Philippines construction aggregates market in terms of value. Major urban centers like Manila, Quezon City, Caloocan attract significant construction of commercial and residential buildings annually. NCR is followed by Region IV-A (Calabarzon) which includes fast developing provinces like Laguna, Batangas, Cavite and Rizal. Rapid population growth and industrialization is propelling infrastructural development in this region. Another fast growing market is Central Luzon Region (Region III) led by the provinces of Pampanga, Bulacan and Bataan. Ongoing construction of Clark International Airport, Subic-Clark Railway and Central Luzon Link Expressway is stimulating aggregates demand.
Fastest growing region for Philippines construction aggregates market
The Philippines autonomous region of Bangsamoro is emerging as the fastest growing region for construction aggregates market. After decades of insurgency, the region is now experiencing a construction boom. The government is investing heavily in rehabilitation, resettlement and development projects. Mega infrastructure projects worth billions of USD are underway like Cotabato Airport, Bangsamoro Government Center, roads, hospitals, schools and housing complexes. As displaced families return to rebuild livelihoods, demand for construction materials is continuously rising. Given the infrastructure backlog, ample growth opportunities exist for aggregates suppliers to cater to the reconstruction requirements of Bangsamoro region over the coming years.
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Author Bio:
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, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )
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?
