by Recycled construction aggregates are materials produced from recovered demolished concrete and masonry and used as a substitute for natural aggregates in construction applications. They are used in road and pavement base construction, production of asphalt and other concrete materials. The growing awareness about the benefits of recycled construction aggregates such as reduced mining pressure and lower environmental impact is fueling its adoption.
The global Recycled Construction Aggregates Market is estimated to be valued at US$ 46.87 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The recycled construction aggregates market is expected to grow owing to increasing infrastructure development projects worldwide. Mega infrastructure projects such as high speed rail networks, smart cities, and road expansions are driving the demand for aggregates. Further, growing environmental concerns have prompted regulatory bodies to mandate the use of recycled aggregates in construction activities. For instance, the European Commission’s Waste Framework Directive promotes the recycling of construction and demolition waste. This is expected to boost the sales of recycled construction aggregates during the forecast period.
SWOT Analysis
Strength: Recycled construction aggregates provide environmental benefits by reducing the need for virgin aggregates. They utilize materials that would otherwise become construction waste. Using recycled aggregates also conserves natural resources and landfill space.
Weakness: The quality and uniformity of recycled construction aggregates can vary significantly depending on the source of waste materials. Additional processing may be required to ensure quality standards are met. Transportation of recycled aggregates over long distances may not be economically viable.
Opportunity: Government policies and regulations in many countries promote the use of recycled construction aggregates to support sustainability goals. Rising environmental awareness among construction project owners and contractors is driving increased demand.
Threats: Structural engineers may be hesitant to specify recycled aggregates for large projects due to variability in material properties. Competition from inexpensive virgin aggregates can undermine market growth if their costs rise significantly.
Key Takeaways
The global Recycled Construction Aggregates Market Demand is expected to witness high growth, exhibiting a CAGR of 9.5% over the forecast period, due to increasing environmental regulations promoting sustainable construction practices. The market size for recycled construction aggregates is estimated to reach US$ 46.87 Bn by 2023.
Regional analysis: Europe currently dominates the global recycled construction aggregates market, accounting for over 30% share in 2023. Strict environmental laws and landfill diversion targets in the EU drive robust demand. The Asia Pacific region is projected to be the fastest growing market during the forecast period due to rapid urbanization and infrastructure development in India, China, and other Asian countries.
Key players: Key players operating in the recycled construction aggregates market include Tarmac, Delta Sand & Gravel Co., LafargeHolcim Ltd., Aggregate Industries Management, Inc., CEMEX, Vulcan Materials Company, CESPA, Green Stone Materials, CRH Plc., and Heidelberg Cement AG. These companies are focusing on capacity expansion as well as mergers and acquisitions to strengthen their positions.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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.
