Burlingame, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, Recycled Construction Aggregates Market, By Product Type (Crushed Stone, Sand and Gravel, Cement Concrete, and Others), By Application (Commercial, Residential, Industrial, and Infrastructure ), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030,” According to the report, the global recycled construction aggregates market is estimated to be valued at US$ 42.8 billion in 2022 and is expected to exhibit a CAGR of 9.5% during the forecast period.
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Analysts’ Views on Global Recycled Construction Aggregates Market
Recycled construction aggregates refer to materials that have been previously used in construction projects and are then processed or reused for new construction applications. These aggregates are used as a sustainable alternative to traditional natural aggregates, such as crushed stone, sand, and gravel, which are commonly mined from quarries. Recycling process involves collecting, sorting, and processing waste materials derived from construction sites, demolitions, and road maintenance projects to produce usable aggregates with similar properties to their virgin counterparts; resulting waste material are often processed and transformed into usable construction materials again. Thus, there is an increasing demand for recycled construction aggregates.
Key Trends and Analysis of the Global Recycled Construction Aggregates Market:
Increasing adoption of sustainable construction practices is one of the key trends expected to drive growth of the global recycled construction aggregates market. For instance, the rising emphasis on environmental sustainability has led to the increasing number of green buildings and regenerative construction practices. This in turn has increased the demand for recycled construction aggregates to reduce environmental/ecological impact. For instance, the green building regulations of Canada including National Energy Code for Buildings are pushing the demand for sustainable construction aggregates. Such government initiatives are expected to drive the market growth.
Global Recycled Construction Aggregates Market – Drivers
High demand for recycled aggregates to propel market growth
With the increasing number of construction activities across the globe, the use/demand for recycled construction aggregates is also increasing with a rapid pace. For instance, in March 2023, Holcim and Seqens planned to build Recygénie, the world’s first fully recycled concrete building. Drawing on its formulation expertise, Holcim’s Innovation Center has developed a first-of-its-kind concrete in which all components are made of recycled materials. Built with this unique recycled concrete solution, Recygénie represents the breakthrough in circular construction. Construction is currently underway, with completion expected in Q4 2024.
Recycled Construction Aggregates Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2023 | Market Size in 2022: | US$ 42.8 Bn | |
| Historical Data for: | 2018 to 2022 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 9.5% | 2030 Value Projection: | US$ 88.4 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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 | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Government initiative or support to augment market growth
Several governments worldwide have adopted norms to promote the use of recycled construction aggregates. For instance, in June 2023, the Government of India, the National Highways Authority of India (NHAI), released a Sustainability Report which underlines effectiveness of various efforts made by NHAI for environment and energy conservation. NHAI has been using recycled materials for National Highway construction. NHAI has also been encouraging the use of Recycled Asphalt and Recycled Aggregates in the National Highway construction. Over the years, NHAI has taken significant steps towards adopting sustainable and eco-friendly practices.
Global Recycled Construction Aggregates Market – Restrain
Quality and logistic challenges to hamper market growth
One of the key factors expected to hamper growth of the global recycled construction aggregates market is the high cost of operations and quality concerns. For instance, recycled materials (such as recycled construction aggregates) might vary in composition and properties, leading to concerns about their performance in certain construction applications. Moreover, collecting and processing construction waste to produce recycled aggregates can be logistically challenging, as the need for specialized facilities and equipment can increase operational costs. These factors are expected to restrain the growth of the market during the forecast period.
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Global Recycled Construction Aggregates Market – Opportunities
Rapid growth of the construction industry is expected to offer significant growth opportunities for players in the global recycled construction aggregates market. For instance, with the rapid growth of the global construction industry, the use or demand for recycled construction aggregates is also increasing rapidly. According to the India Brand Equity Foundation (IBEF), India is expected to become the third largest construction market by 2025. In fact, India, China, and the United States are expected to account for almost 60% of all global growth in the sector by 2025 and almost 52% of all construction activities are already taking place in emerging markets. This in turn is expected to increase the demand for recycled aggregates worldwide.
Global Recycled Construction Aggregates Market - Key Developments
In April 2023, Holcim launched ECOCycle, their own proprietary circular technology platform to recycle construction and demolition waste materials into new building solutions. With ECOCycle, Holcim say they can recycle 100% of C construction and demolition D waste across a broad range of applications all the way to aggregates in concrete and fillers in road construction.
In June 2022, Holcim produced the world's first clinker made entirely of recycled minerals at its plant in Altkirch, France. The recycled clinker is fully compliant with European standards and will be used to produce 100 per cent recycled cement.
Key Market Takeaways:
Global recycled construction aggregates market is expected to exhibit a CAGR of 9.5% over the forecast period. The global recycled construction aggregates market is growing rapidly in response to the infrastructure development and urbanization and rising adoption of sustainable construction practices around the world.
On the basis of Product Type: Cement Concrete Segment is expected to dominate the market over the forecast period and this is attributed to the increasing number of construction activities across the globe.
On the basis of Application, Infrastructure Segment is expected to dominate the market over the forecast period and this is attributed to the increasing infrastructure investments.
On the basis of Geography, North America and Asia Pacific are expected to hold a dominant position over the forecast period due to rapid growth of the construction industry and growing demand for recycled construction aggregates in these regions.
Competitive Landscape:
Key players operating in the global recycled construction aggregates market include Tarmac, Delta Sand & Gravel Co., LafargeHolcim Ltd., CEMEX, Vulcan Materials Company, CESPA, Green Stone Materials, CRH Plc., Heidelberg Cement, and Aggregate Industries Management, Inc., among others.
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Detailed Segmentation:
- Global Recycled Construction Aggregates Market, By Product Type:
- Crushed Stone
- Sand & Gravel
- Cement Concrete
- Others
- Global Recycled Construction Aggregates Market, By Application:
- Commercial
- Residential
- Industrial
- Infrastructure
- Global Recycled Construction Aggregates Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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