Synthetic Aggregates Market: Overview
Synthetic aggregates are lightweight aggregates composed of recycled plastics and coal fly ash. They are typically used as construction materials. These aggregates weigh less than 70 lbs/ft3 and are 30%-70% lighter than mineral aggregates. Synthetic aggregates are produced by utilizing waste from blast furnace or rotary kilns such as sewage sludge, incinerated sewage sludge, pulverized fuel ash, oil sands, and slag. They are heated at around 1000°F to 4500°F. Synthetic aggregates can also be produced from non-cementitious fly ash through coal burning process, recycled plastics, and recycled glass.
Synthetic Aggregates Market: Key Segments
Based on product type, the global synthetic aggregates market can be segmented into pyro-processed ceramic aggregates and plastic aggregates. Pyro-process aggregates are manufactured by heating natural materials such as shale and clay, while plastic aggregates are formed by heating industrial by-products and consumer plastics. Ceramic aggregates are widely used in the construction industry in the production of Portland cement for bridge deck applications. They are also used in concrete for high rise construction. Concrete produced by mixing synthetic aggregates is strong with less weight vis-à-vis that produced by traditional aggregates. Synthetic aggregates are also employed in seal chips, which are used in traffic areas. These aggregates offer superior skid-resistance and bonding with asphalt emulsion due to their porous structure.
Synthetic Aggregates Market: Trends & Demands
Rise in demand for sustainable construction materials with low CO2 emission, typically for the building & construction industry, is driving the global synthetic aggregates market. Increase in construction activities, such as highways and pavements, across the globe and growth in usage of concrete in buildings are boosting the synthetic aggregates market. Stiff competition from natural aggregates derived from sand, gravel, rocks, etc. is expected to hamper the market during the forecast period. Rise in demand for concrete products such as concrete roof shingles, ultra-light weight concrete, culvert pipe, concrete underground vessels, and pre-stressed or tilt-up concrete is anticipated to provide lucrative opportunities to manufacturers of synthetic aggregates during the forecast period.
Synthetic Aggregates Market: Regional Outlook
In terms of region, the global synthetic aggregates market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the leading consumer of synthetic aggregates, followed by Europe and Asia Pacific. Rise in demand for aggregates derived from recycled waste to curb carbon emissions is boosting the synthetic aggregates market in North America. Increase in demand for lightweight concrete in the U.K. Germany, France, and countries in Eastern Europe is anticipated to drive the demand for synthetic aggregates in Europe during the forecast period. Concrete mixed with synthetic aggregates produces lightweight concrete, which offers benefits such as improved structural efficiency, ease of transport, less labor force, reduced dead load of a structure, ease of renovation and repair, and better thermal insulation. This is augmenting the demand for synthetic aggregates in Europe. Asia Pacific is projected to provide lucrative opportunities to manufacturers of synthetic aggregates in near future due to the rise in urbanization and growth in disposable income of consumers. Expansion in the building & construction industry in developing economies of Asia Pacific such as China, India, and Vietnam is likely to propel the demand for synthetic aggregates in the near future. The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. Increase in adoption of green construction materials and green and energy efficient buildings is expected to drive the synthetic aggregate market in Latin America and Middle East & Africa. Growth in construction activities in the UAE, Qatar, and South Africa is anticipated to boost the market in Middle East & Africa during the forecast period.
Synthetic Aggregates Market: Key Players
Key players operating in the global synthetic aggregates market are Melvin Stone Company, Urbana Materials, Northern Kentucky Aggregates, and Wooster Materials.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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7. Which government regulations might challenge the status of key regional markets?
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