by Construction aggregates include sand, gravel, crushed stone, slag, recycled concrete, and geosynthetic aggregates which are used with a binder like cement, lime or asphalt to form concrete, mortar, screed or non-specialty asphalt. Recycled construction aggregates are made from materials from construction and demolition projects such as crushed concrete, masonry materials, reclaimed asphalt, rock, stone, gravel, crushed glass and roofing shingles. Recycled construction aggregates offer advantages such as reduced usage of raw materials, lower transportation costs, reduction in waste quantities going to landfills and conservation of natural resources.
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:
Growing concerns pertaining to environmental pollution caused due to excessive mining activities and increasing emphasis on sustainable construction practices are the major factors accelerating the demand for recycled construction aggregates. As per studies, usage of recycled construction aggregates in road base and sub-base applications can reduce the environmental impact and cost up to 40%, as compared to production of virgin aggregates. Governments in various countries are promoting the use of recycled construction aggregates through policy support and investments. Rising adoption of green building standards such as LEED further contributes to the growth of recycled construction aggregates market. With increasing awareness and emphasis on circular economy, the recycled construction aggregates market is expected to witness substantial growth over the forecast period.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants is low in the Recycled Construction Aggregates Market as it requires high initial investments and it is difficult for new players to gain market share from existing key players.
Bargaining power of buyers: The bargaining power of buyers is moderate as recycled construction aggregates have limited substitutes and buyers have several suppliers to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as suppliers have established relationships with buyers and supply agreements. However, presence of multiple suppliers limits their bargaining power.
Threat of new substitutes: The threat of new substitutes is low as recycled construction aggregates have environmental benefits and there are limited substitutes available.
Competitive rivalry: Intense competition exists among existing players.
SWOT Analysis:
Strength: Recycled construction aggregates have environmental benefits and help reduce landfill waste. They provide cost savings compared to virgin aggregates.
Weakness: Quality of recycled aggregates can vary and it requires complex sorting and processing. Transportation of aggregates adds to costs.
Opportunity: Increasing infrastructure projects and construction activities present an opportunity for growth. Government support and regulations favoring use of recycled materials also provide opportunities.
Threats: Fluctuations in raw material prices and supply can impact operations. Strict environmental laws pose compliance challenges.
Key Takeaways:
The Global Recycled Construction Aggregates Market Size is expected to witness high growth at a CAGR of 9.5% over the forecast period 2023 to 2030 due to increasing infrastructure development and construction activities globally. The market size is estimated to reach US$ 86.04 Bn by 2030 from US$ 46.87 Bn in 2023.
Regional analysis: North America dominates the market currently owing to stringent environmental regulations and high recycling rates in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period led by China, India and other developing nations expanding their infrastructure and real estate sectors.
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. The market is dominated by large players owing to high initial investments required.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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