CLEVELAND, Jan. 13, 2020 /PRNewswire/ — Global demand for sand is expected to grow only 1.2% per year through 2023 to just under 10 billion metric tons. Growth will be well below the global average and will track demand for gravel. The shrinking availability of sand will be the primary factor restraining global demand growth. A number of countries (e.g., India, Thailand, South Korea, Saudi Arabia) are dealing with rapidly depleting sand reserves, which will limit long-term supply and will continue to increase consumer prices in regional markets.
For more information regarding Global Construction Aggregates visit: https://www.freedoniagroup.com/industry-study/global-construction-aggregates-3742.htm
In developed regions with strong mining regulation, such as North America and Western Europe, demand for sand will continue to stagnate or decline through 2023. In the wake of higher material prices, sand will continue to be replaced by crushed stone and widely available secondary and recycled aggregates.
In developing regions of the world, especially in the Asia/Pacific and Africa/Mideast regions, demand for sand will be supported in the near term by:
- high incidences of illegal mining, as fine aggregates will still be required in a number of applications, particularly for hydraulic concrete
- the lower availability of secondary aggregates in these regions, which limit the degree of substitution
Despite this dichotomy, supply constraints and higher material prices for virgin sand will continue to shift consumer preference toward crushed stone and secondary substitutes globally. The global product mix will continue shifting, and demand for sand and gravel will remain the slowest growing products.
Contact Corinne Gangloff for an interview with the analyst.
Additional Construction & Building Products studies can be viewed here:
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group