by Recycled construction aggregates are produced from demolished concrete and masonry and find widespread applications in road base, concrete mixes, backfill and landscape works due to their cost-effectiveness and environment friendliness. The consistent rise in construction and infrastructure development activities has augmented the demand for virgin aggregates, exerting tremendous pressure on the natural resources. This has accelerated the shift towards recycled construction aggregates which reduces landfill waste and conserves natural sand and gravel resources.
The Global recycled construction aggregates market is estimated to be valued at US$ 54 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the recycled construction aggregates market are Apotheek Zur Rose, Viataal, Stichting De Apothekerscoöperatie, Holland Pharma.
The rising environmental consciousness among individuals and stringent regulations on landfill dumping present lucrative opportunities for market players. Technological advancements such as 3D concrete printing offer an promising avenue by enabling the manufacture of concrete products with industrial waste as a raw material.
The growing acceptance of recyclable material over conventional construction aggregates to achieve sustainability goals is a major driver for the market. Rapid urbanization and ongoing infrastructure megaprojects in developing nations escalate the demand for recycled construction aggregates.
Market Drivers
One of the key drivers for the recycled construction aggregates market is sustainable construction practices and stringent environmental laws against natural resource mining and landfill dumping. Many countries have enacted policies mandating the use of recycled aggregates in public construction projects which stimulates market growth. The rising awareness about benefits of recycled construction aggregates including cost-effectiveness and eco-friendliness compared to natural aggregates augments their demand.
Current challenges in the Recycled Construction Aggregates Market:
The recycled construction aggregates market is facing challenges in terms of transportation and logistics. Since recycled aggregates are derived from construction and demolition waste, their supply depends on the availability of raw material. Transportation of bulky debris from construction sites to processing facilities and then delivery of processed aggregates to construction projects increases overall costs. Moreover, the unsorted nature of input waste makes processing more difficult. Standardization of waste segregation practices can help address this issue to some extent.
SWOT ANALYSIS
Strength: Recycled aggregates help reduce the exploitation of natural resources for new aggregate production. They provide a sustainable solution for recycling waste.
Weakness: Dependence on construction and demolition activity for raw material supply can affect price and availability of recycled aggregates. Processing involves more effort as waste streams are mixed.
Opportunity: Growing preference for green construction presents an opportunity to increase market share of recycled aggregates. Supportive government policies for construction waste management can boost demand.
Threats: Stigma around quality and performance of recycled products is a challenge. Fluctuations in new development and site clearance activity impact raw material supply.
Geographical regions of concentration:
North America currently dominates the recycled construction aggregates market in terms of value, led by demand from the United States. Asia Pacific is also a major regional market, with China having the world’s highest concrete consumption which drives aggregates need. Europe is another key region for recycled aggregates, as supportive regulations push diversion of construction waste from landfills.
Fastest growing regions:
The recycled construction aggregates market is estimated to witness fastest growth in the Asia Pacific region over the forecast period till 2030. This is due to rapidly increasing urban infrastructure development projects and building construction in populous nations such as China and India. Strict environmental norms to curb waste generation will further aid market expansion. Another high growth region would be the Middle East and Africa, supported by rebound in oil & gas industry and large-scale infrastructure projects.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
