Recycled Construction Aggregates Market Scenario Highlighting Major Drivers & Trends, 2018-2027
The recycled construction aggregates market is projected to register 6.0% CAGR in volume terms between 2019 and 2027.
[ClickPress, Thu May 16 2019] The report on the recycled construction aggregates market provides market dynamics including trends, drivers, and challenges that are likely to influence the current market scenario and future status of the recycled construction aggregates market. The report offers in-depth analysis, key insights, historical data, and forecast on the recycled construction aggregates market.
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The report also highlights competition in the market and important factors that are shaping the overall growth in the recycled construction aggregates market. Region-wise and segment-wise analysis of the recycled construction aggregates market is also included in the report to provide better understanding and outlook of the market for the forecast period.
Outpouring Construction & Demolition Waste Necessitate Adoption of Recycled Construction Aggregates
Rapid urbanization, and proliferation in construction and infrastructure development activities allude significant amount of waste being generated worldwide, which has been a key environment concern among industrialists. Continued emphasis on the environmental conservation has further instigated the critical need for recycling and reusing construction materials. According to the European Commission, construction and demolition waste account for nearly 25%-30% of the waste generated in the EU. Estimations from the US Environmental Protection Agency (EPA) state that, in 2015, around 548 million tons of construction and demolition debris was generated in the US. Significant efforts are being taken by governments in countries such as the US, the Netherlands, and Germany, apropos of construction and demolition waste recycling and reuse. Introduction of new standards by the EU for recycling and reuse of construction and demolition waste in drainage, building, roads, and other construction projects, has further created growth opportunities for the recycled construction aggregates market.
Resurgent Growth in Residential Construction and Infrastructure Development to Uphold Demand
Recycled construction aggregates continue to witness robust demand in line with growth of the residential construction and infrastructure development projects worldwide. According to the Global Construction 2030, published by Global Construction Perspectives and Oxford Economics, the worldwide construction output is likely to reach $15.5 trillion by 2030, with US, China, and India accounting 57% of the global growth.
Governments in developing countries are introducing a wide range of housing schemes and residential programs, which has created demand for cost-effective, recycled construction aggregates. Additionally, road construction activities have significantly contributed to natural resource depletion, which has necessitated adoption of recycled construction aggregates in the area.
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Inadequate Development Efforts of Governments in Developing Economies to Confine Sales
Recycled construction aggregates are emerging as an effective alternative to the conventional sources, with the use of recycled construction aggregates becoming a prominent trend in developed regions. However, lack of initiatives by governments in the developing countries such as China, Africa, and India is expected to remain a longstanding challenge, hampering the growth of recycled construction aggregates market. The impact of construction and demolition waste is becoming a major issue in developing regions, in parallel to the rapid urbanization. The government interventions including policies for waste management is still in limbo in some of the developing countries. Compared to pace of urbanization in developing countries, the measures for construction and demolition waste management are sluggish. Additionally, lower affordability of recycling and reuse of construction aggregates, coupled with slower penetration of construction waste such as broken bricks and concrete, will continue to remain key challenges to growth of the recycled construction aggregates in developing economies.
The report offers detailed profiles of all the leading players in the recycled construction aggregates market. Some of the major companies operating in the market are Delta Sand & Gravel Co., HeidelbergCement AG, Aggregate Industries Management, Inc., Green Stone Materials, CEMEX, Vulcan Materials Company, CESPA, LafargeHolcim Ltd., CRH Plc., and Tarmac.
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