Construction Aggregate is the largest segment driving the growth of recycled construction aggregates market
Recycled construction aggregates are aggregate products manufactured from debris of demolished concrete and pavement. They are used as an alternative to virgin aggregate in construction projects. The key advantage of recycled construction aggregates is elimination of construction waste from landfills.
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 key trends
One of the major trends driving the growth of recycled construction aggregates market is growing preference towards sustainable construction practices among builders and construction companies. With increasing awareness about environmental impact of construction waste, demand for recycled products like construction aggregates is growing. Manufacturers are promoting the green image of recycled aggregates to gain more projects. Landfill waste reduction mandates by regulatory bodies are also supporting the adoption of recycled construction aggregates by builders.
SWOT Analysis
Strength: Recycled construction aggregates have lower carbon footprint and are more environment friendly option as compared to natural aggregates. Using recycled construction materials helps reduce landfill waste.
Weakness: Collection and processing of recycled construction materials require advanced machinery and equipment which leads to higher initial investment costs. Purity and quality of recycled aggregates depends on source of waste which is difficult to control.
Opportunity: Government policies and regulations in many countries promoting sustainability are driving the demand for recycled construction aggregates. Growing construction activities especially in developing countries provide large market opportunity.
Threats: Fluctuation in prices of natural aggregates impact the price competitiveness of recycled aggregates. Lack of awareness about benefits of recycled aggregates act as a challenge.
Key Takeaways
The global Recycled Construction Aggregates Market Demand is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing focus on sustainable construction practices and waste management. Growing construction activities in emerging economies of Asia Pacific and Middle East & Africa are fueling the demand for recycled construction aggregates.
Regional analysis
Asia Pacific dominates the global recycled construction aggregates market owing to rapid infrastructure development projects in China, India and other developing nations in the region. North America and Europe hold significant share due to stringent regulations regarding sustainability and waste reduction. The Middle East and African market is expected to grow at a fast pace during the forecast period with increasing investments in building roads, bridges and other construction projects.
Key players
Key players operating in the Recycled Construction Aggregates market are 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. Tarmac and LafargeHolcim are the market leaders due to their extensive production capacity and global presence. New product launches and acquisitions are common strategies adopted by the key players to strengthen their market position.
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