Recycled Concrete Aggregates Market Size, Share, Demand & Trends by 2032
As per a recent market analysis by Future Market
Insights (FMI), the global recycled concrete aggregates market is
expected to be worth US$ 8,775.81 million in 2022, rising to US$ 16,785.4
million by 2032. From 2022 to 2032, the demand for recycled concrete aggregates
is expected to increase at a steady CAGR of 6.7 percent.
Growing environmental awareness, as well as the
importance of recycled materials in the construction industry, are expected to
drive demand for recycled concrete aggregates. The construction industry is
expected to present several growth prospects for the recycled concrete
aggregates market's key players. This is owing to its ability to create jobs,
which can assist the industry in shifting toward sustainability and
digitization.
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The sales of recycled concrete aggregates are quickly
increasing as a result of increased residential construction and infrastructure
development. Furthermore, developing-country governments are implementing a
wide range of housing programmes and residential projects, creating a demand
for low-cost, recycled construction aggregates.
The demand for recycled concrete aggregate is
increasing since it is more environmentally friendly than processing
construction aggregate, which has a negative influence on the environment. As a
result, construction companies prefer recycled concrete aggregates, fueling
market expansion. Furthermore, recycled concrete aggregate is used as a filter
material to add volume, strength, and resistance to erosion.
The structure, fundamental gravity, and surface
roughness of the product are determined by recycled concrete aggregates. It is
less expensive than cement and may be used in large quantities, which is one of
the primary factors affecting recycled concrete aggregate sales over the
predicted period.
“The adoption of recycled concrete
aggregates is growing as a feasible substitute for conventional sources and is
becoming a popular trend in industrialised nations.”- FMI
Analyst.
Key Takeaways:
- The
unprocessed category dominated the market in 2021, accounting for 60% of
sales of recycled concrete aggregates worldwide.
- With
31% of global sales in 2021, the roadway and pavement segment dominated
the market.
- North
America dominated the recycled concrete aggregates market and accounted
for the greatest revenue share of around 41% in 2022 as a result of the
rising demand for recycled concrete aggregates as a sustainable source
throughout the region.
- The
market for recycled concrete aggregates has the biggest development potential
in the Europe region.
- Due
to a lack of experience, a lack of understanding of the advantages of
recycled aggregates, as well as changes in laws and regulations, the
Middle East and Africa are now facing slow growth.
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Competition Landscape in the GCC Countries
Medical Tourism Market
The market for recycled concrete aggregates is highly
fragmented, with multiple regional and local companies providing solutions in a
specific geographic area.
The market has experienced an increase in the number
of developing enterprises and new market entries due to the nature of the
sector and the lack of unduly demanding technical and capital requirements. The
sector is also governed by environmental regulations, which differ by
area.
Established enterprises with a strong compliance
policy have a significant presence in established countries, while mid-sized
and new players in emerging markets continue to seek services to help them stay
in compliance. Manufacturers are most likely to create collaborations with
major construction corporations and government organisations in order to
increase sales.
Major players present in the recycled concrete
aggregates market are Lehigh Cement, Vulcan Materials Company, FERMA CORP,
LafargeHolcim, Top Grade Site Management, LLC, Delta Sand & Gravel Co.,
CEMEX S.A.B. de C.V., Southern Crushed Concrete, Big City Crushed Concrete,
Independence Recycling of Florida.
Recent Developments in the GCC Countries
Medical Tourism Market:
- CRH
spent $3.5 billion to acquire Ash Grove Cement Company in Overland Park,
Kansas.
- CEMEX
supplied roughly 55,000 cubic yards of ready-mix concrete for Plaza Coral
Gables phase one, which is scheduled to be completed in 2020. CEMEX is
also planning to provide more than 170,000 cubic metres of hydraulic
concrete for a 50-kilometer stretch of the main commerce route connecting
Mexico and the United States.
- LafargeHolcim
has been awarded a CAD 100 million infrastructure contract by the British
Columbia Ministry of Transportation and Infrastructure for a major highway
repair project in Vancouver, Canada. LafargeHolcim also acquired Metro
Mix, LCC, a Colorado ready-mix concrete manufacturer.
- Aggregates
USA, LCC was purchased by Vulcan Materials Company. In addition to three
granite quarries, the deal includes sixteen train distribution yards in
South Carolina, Florida, and Georgia.
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