Recycled Construction Aggregates Market: Prominent Alternative of Construction Materials
- Recycled construction aggregates is one of the highly viable options for the construction industry to meet the requirement of sand, gravel, crushed rock & stones. The construction industry uses mined material and concrete for the construction of road, rails, bridges, residential buildings, and commercial complexes across the globe. This continuous extraction of natural resources is leading to a rapid deletion of non-renewable sources.
- Increase in construction activities across the globe has resulted in large quantity of concrete, gravel, and debris. Recycling of these essential materials such as concrete and gavels is a smart way to cater to the demand for material required in residential or commercial construction.
- The construction industry has shifted from conventional practices to the usage of recycled materials for construction of buildings, commercial places, and infrastructure. This trend is likely to provide lucrative opportunities for companies operating in the recycled construction aggregates market during the forecast period.
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Key Drivers of Recycled Construction Aggregates Market
- Recycled construction aggregates is a broad category materials that includes crushed stones, cement concrete, sand, and gravel. It has become an essential and effective alternative source for usage in residential construction and other infrastructure projects. Rapid expansion of the construction industry across the globe is expected to boost the demand for recycled construction aggregates during the forecast period.
- Rapid urbanization is boosting the demand for modern architectural designs for the construction of private and commercial buildings in various countries. This is projected to propel the demand for eco-friendly recycled construction aggregate materials in the next few years.
- Most countries such as the U.S., Canada, and Germany are emphasizing on reducing the extraction of natural resources such as sand & gravel, crushed stone, and other natural materials to protect damage to the environment across the country. These countries have enacted strong compliance policies for the development of recycled construction aggregates in the next few years.
Infrastructure Segment to Offer Attractive Opportunities
- Based on End-use, the recycled construction aggregate market can be categorized into residential, commercial, and infrastructure. Recycled construction aggregate is gaining momentum as a preferred material in infrastructure projects, especially for roads and bridge projects. Recycled construction material is getting an impetus from various infrastructure construction projects.
- Development projects majorly include construction of smart cities, smart buildings, and other infrastructure projects. This is projected to boost the demand for recycled construction aggregates during the forecast period.
High Capital Investment and Lack of Awareness to Hamper Market
- The recycled construction aggregates market is likely to face key challenges from several factors during the forecast period. High capital investment is required for setting up a recycling plant. This may act as key entry barrier for new players in the market.
- Adoption of recycled construction aggregates requires considerable awareness about the use of recycled products for residential and non-residential construction among the large population. However, lack of awareness regarding the usage of recycled construction aggregates may hamper the market in the near future.
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Asia Pacific Expected to Hold Major Share of Global Recycled Construction Aggregates Market
- Geographically, the recycled construction aggregates market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of recycled construction aggregates. It is followed by Europe and North America. Rise in demand for recycled construction aggregates in China, Japan, and South Korea is expected to create high demand for recycled construction aggregates during the forecast period. Additionally, rise in demand for ecofriendly recycled materials in the building & construction industry across developing economies of Asia Pacific such as China, India, Indonesia, and Vietnam is estimated to create lucrative opportunities for recyclers and producers of recycled construction aggregates operating in the region.
- Rise in government investment in the construction industry in developing economies of Asia Pacific is a key factor anticipated to boost the market in the region during the forecast period
- Increase in demand for eco-friendly construction aggregates is propelling the recycled construction aggregates market in Europe and North America due to the massive impetus on the development of recycled construction aggregates in Europe. Rise in import of recycled construction aggregates in Latin America and Middle East & Africa due to its low cost benefits is likely to boost the market in these regions.
Key Players in Recycled Construction Aggregates Market
Large numbers of key recyclers operating in the global recycled construction aggregates market. Players operating in the recycled construction aggregates market include
- Delta Sand & Gravel
- Heidelbergcement AG
- Aggregate Industries Management Inc.
- Green Stone Materials
- LafargeHolcim Ltd.
Global Recycled Construction Aggregates Market: Research Scope
Global Recycled Construction Aggregates Market, by Product
- Crushed Stone
- Sand & Gravel
- Cement Concrete
- Asphalt Pavement Debris
Global Recycled Construction Aggregates Market, by End-use
- Others (Industrial, Monumental)
Global Recycled Construction Aggregates Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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