by The global Recycled Construction Aggregates Market is estimated to be valued at US$ 42.8 Bn in 2022 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 Overview:-
Recycled construction aggregates refer to the materials that are produced from the reprocessing of construction and demolition waste. These aggregates offer several advantages such as reduced landfill space, reduced transportation costs, and lower carbon emissions. Due to the increasing focus on sustainable construction practices and the growing awareness about the environmental impacts of construction activities, the demand for recycled construction aggregates is witnessing significant growth. Moreover, the need for these products is associated with the increasing adoption of green building materials and the stringent government regulations regarding waste management in the construction industry.
Market Key Trends:-
One key trend in the recycled construction aggregates market is the growing adoption of recycled aggregates in road construction projects. Recycled aggregates, such as crushed concrete, crushed bricks, and crushed asphalt, are being widely used in various road construction applications. This trend can be attributed to the numerous advantages offered by recycled aggregates, such as improved pavement performance, reduced costs, and enhanced sustainability. Additionally, the use of recycled aggregates in road construction helps to conserve natural resources, reduce the need for virgin materials, and minimize the environmental impacts of road building activities. As a result, there is a growing demand for recycled construction aggregates in the road construction sector.
PEST Analysis:-
- Political: The political factors influencing the recycled construction aggregates market include government regulations and policies related to environmental protection and waste management. Governments around the world are increasingly focusing on promoting sustainable construction practices and encouraging the use of recycled materials.
- Economic: The economic factors driving the growth of the recycled construction aggregates market include cost savings associated with the use of recycled materials compared to virgin aggregates. Recycling construction waste helps in reducing disposal costs and conserving natural resources, making it an economically viable option for construction companies.
- Social: Social factors such as increasing awareness about the environmental impact of construction activities and the need for sustainable development are driving the demand for recycled construction aggregates. Consumers are becoming more conscious about the materials used in construction and are actively seeking eco-friendly alternatives.
- Technological: Technological advancements in the recycling industry have significantly improved the quality of recycled construction aggregates. Innovative processes and equipment have made it possible to produce aggregates with similar or even better properties than virgin materials, increasing their acceptance in the construction sector.
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 from 2023 to 2030. The market is driven by increasing government regulations promoting sustainable construction practices and the economic benefits associated with using recycled materials.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the recycled construction aggregates market. The region has stringent environmental regulations and a well-developed recycling infrastructure, which has contributed to the high adoption of recycled construction aggregates.
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 expanding their product portfolios and investing in research and development to further improve the quality and performance of recycled construction aggregates.
*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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