Recycled construction aggregates are materials produced by crushing demolished construction and demolition waste materials such as concrete, masonry, and asphalt. They provide viable and eco-friendly alternatives to natural aggregates while reducing the need for disposal of construction and demolition waste. Recycled aggregates have properties similar to natural aggregates and can be used for varying construction applications such as road base and sub-base, concrete production, and others.
The global recycled construction aggregates market is estimated to be valued at US$ 46.87 Bn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: Opportunity for Sustainable Construction Materials
The market opportunity lies in the increasing demand for sustainable construction materials. With growing awareness about environmental protection and natural resource conservation, recycled construction aggregates are gaining popularity as they provide an eco-friendly alternative to natural aggregates. Using recycled aggregates in construction reduces the need for mining natural aggregates and landfilling of construction waste. Recycled aggregates can help cut operational costs for contractors and aid in achieving sustainability targets of construction projects. Countries worldwide are pushing for increased use of recycled materials in public construction projects which will further drive market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Moderate. High initial investments required for recycling equipment and facilities deter new companies from entering. However, support from regulations encourages sustainable practices.
Bargaining power of buyers: Moderate to High. Large construction companies can negotiate lower prices due to bulk purchases. Small buyers have limited influence.
Bargaining power of suppliers: Moderate. Well established recycled aggregates suppliers operate. New suppliers able enter by investing in recycling plants.
Threat of new substitutes: Moderate. Natural aggregates remain competitive. However, regulations push construction sectors to use recycled materials.
Competitive rivalry: High. Major players compete on price, quality, and sustainability goals to win projects.
SWOT Analysis
Strengths: Growing construction waste volumes ensure raw material supply. Regulations favor recycled materials use.
Weaknesses: Higher initial costs than natural aggregates. Quality consistency challenges in reusing waste.
Opportunities: Rising infrastructure spending and sustainability focus present opportunities. Demand expected to grow rapidly across regions.
Threats: Slow construction activity during economic downturns affects demand. Strict quality standards necessary for structural uses.
Key Takeaways
The global Recycled Construction Aggregates market size is expected to witness high growth. Supported by regulations favoring sustainable practices and rising infrastructure spending, the market size is projected to grow at a CAGR of 8.5% from 2023-2030 to reach a value of US$ 46.87 Bn by 2024.
Europe currently dominates the market owing to stringent construction waste regulations and landfill bans in countries like Germany and United Kingdom. The Asia Pacific region is expected to be the fastest growing market led by China, India and other developing nations undertaking massive infrastructure projects and adopting greener construction methods.
Key players operating in the recycled construction aggregates market are Apotheek Zur Rose, Viataal, Stichting De Apothekerscoöperatie, Holland Pharma. Major players are focusing on expanding recycling facilities, diversifying product portfolios with structural grade aggregates, and developing technologies to improve quality consistency to capitalize on the projected market growth.
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