The trends in the market for recyclable aggregates in construction have shown impressive growth over the years due to increased knowledge and commitment towards sustainable building practices. Recycled aggregates, as a result, have become a viable alternative for environmentally friendly constructions because of their eco-friendly nature amidst any environmental concerns about traditional building materials' impact on the environment. An integral part shaping this trend is rising pressures toward circular economy principles. The construction industry adopts a more circular approach where materials are reprocessed within closed loops reuse systems. It emanates from concerns about climate change as well as legal obligations concerning landfill avoidance requirements; hence, when such happens, they create demand for recycled construction aggregate markets.
Moreover, government policies and regulations also largely influence these market trends. Many countries have enacted strict laws regarding waste management while at the same time encouraging the use of recycled products in construction projects across the globe. Subsidies incentives and tax cuts, among others, mean that there has been encouragement to adopt recycling solution aggregates in construction areas. Cost-effectiveness has played a key role in bolstering demand for recycling material aggregates further; technological advancements applied during processing and manufacturing processes reduce production costs, making it more competitive with other conventional alternatives. It is this cost parity that has made many construction firms substitute the material mainly because of its growing demand and recognition for green buildings by clients.
Technological advancements have also changed market dynamics. Innovation in processing techniques and equipment is now enabling the production of good-quality recycled aggregates, which can be employed in a wider range of building works. Such strides have been very instrumental in removing any barriers to the widespread use of recycled sources so far as aggregate materials are concerned. Customers have a changing preference for environmentally friendly construction methods. Growing awareness of the environmental effects associated with construction activities has resulted in the need for structures employing waste products. This demand has revolutionized this industry, and builders, architects, and other stakeholders who want to cater to the expectations of eco-sensitive clients are resorting to sustainable solutions.
The Recycled Construction Aggregates Market Size was valued at USD 33,795.9 million in 2023. The recycled construction aggregates industry is projected to grow from USD 36,064.4 million in 2024 to USD 63,183.8 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.26% during the forecast period (2024 - 2032). Today, recycled aggregates are gaining more traction than natural materials. The aggregates materials can include brick, masonry, asphalt and unbound materials. Through supplement cement materials all these aggregates are blended well. These materials are highly cost-efficient than the first grade or natural products. The sustainability and durability of this product are attracting many end users.
Recycling and using the construction aggregates are beneficial for the environment. They are eco-friendly products that do not harm the environment in any way. Today, the awareness about recycled aggregates is higher among end-users. Thus construction industry is depending more on such products. Demolition of waster and reusing it has a wide range of advantages. The construction cost of the building is reduced by holding through this process.
Today, key regions such as Europe and the Asia Pacific are major users of the construction aggregates products. Many facilities treat these types of waste well to produce a quality construction material. The growing construction activities across the globe are increasing the supply and demand of the market. With more governmental initiatives about recycling, there are lots of new opportunities. All these are a factor that contributes to immense recycled construction aggregates market value.
Global Recycled Construction Aggregate Market: Regional Analysis
Globally, the recycled construction aggregates market has been segmented into five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Among these regions, Europe dominated the market in 2018 owing to the high demand for eco-friendly construction aggregates in the construction industry, favorable government policies to encourage factory automation, and increased demand for cost-effective and highly durable construction materials. In North America, the US is a major contributor to the recycled construction aggregate market. The major factor that fuels the growth of the market in the US is the presence of key market players. However, the lack of a skilled workforce and limited awareness regarding the advantages of recycled aggregates and changes in laws and regulations is hampering the market growth. On the other hand, Asia-Pacific is expected to register the highest CAGR during the forecast period.
Segmentation
The Global Recycled Construction Aggregate Market has been segmented based on Product Type, End-Use, and Region. By product type, the global recycled construction aggregates industries is segmented into crushed stone, sand & gravel, cement concrete, and asphalt pavement debris. The crushed stones segment held the largest share of the global recycled construction aggregates market in 2018 and is expected to witness the highest CAGR during the forecast period.
Based on end-use, the global recycled construction aggregates industries is segmented into residential, commercial, infrastructure, and others (industrial and monumental). The infrastructure segment held the largest market share of the global recycled construction aggregates market in 2018 and is expected to witness the highest CAGR during the forecast period.
Recent Development
May 2020
Sun rock group is a top company that s integrating with other aggregates' production facilities. It is acquiring the shares of a chemical company that will support new developments. The sun rock groups are known for the production of asphalt mix, with this new acquisition the production rate of new aggregates will increase.
December 2019
Arcosa is involved in various mergers and acquisitions. The company is the top producer of aggregates. It uses natural cement and recycles it into supplementary materials. Its new partnership with cherries Ltd will enhance the overall supply and demand of the company.
Competitive Landscape
Market Research Future includes the following Key Players in the Recycled Construction Aggregate Industry research study: Delta Sand & Gravel (US), Heidelbergcement AG (Germany), Aggregate Industries Management Inc. (US), Green Stone Materials (US), CEMEX (Mexico), and LafargeHolcim Ltd (Switzerland) and others. Intense market competition, advances in technology, and progressive government policies are key factors that fuel market growth. The vendors compete based on product quality, cost, reliability, and workability. LafargeHolcim has been awarded an infrastructure contract by the British Columbia Ministry of Transportation and Infrastructure of over CAD 100 million for a major highway improvement project in Vancouver, Canada. LafargeHolcim also acquired Metro Mix, LCC a ready-mix concrete provider in Colorado.
Intended Audience
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