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Various market factors shape the dynamics of the recycled construction aggregates market. One significant driver is increased awareness of sustainable construction. Global Recycled Construction Aggregates Market was valued at USD 102.1 Billion in 2018 and is projected to Register a CAGR of 6.68% during the forecast period. Government regulations and policies also determine the recycled construction aggregates market. In many areas, strict laws have been enacted to minimize waste generation and encourage recycling in building sites; these measures promote the utilization of recycled aggregating agents through the provision of financial incentives to constructors, including tax relief, among others; for that reason, companies are compelled by such regulations to incorporate their projects with secondary materials hence increasing demand for recycled construction aggregates.
The general performance and growth of the construction industry are essential factors influencing demand for recycled construction aggregates in markets. Therefore, when there is an increase in activities within the building sector, there is a rise in demand for building materials like aggregates. Market dynamics are also affected by availability as well as quality that characterizes recyclable construction aggregates. Recycling processes must follow certain guidelines to produce suitable concrete aggregate supplies. The quality of such output has an impact on its sales. Construction firms prefer suppliers who can provide them with enough high-quality recycled aggregate, meeting specific industry standards all year round.
Costs associated with inputs such as raw materials, energy, or transport costs affect prices charged on recycled construction aggregates, where they become more important than ever before. When extracting and processing traditional aggregates becomes prohibitively expensive, this makes alternative ways much more economically viable. Infrastructure development projects are another factor shaping market trends in terms of recycling building stones. Governments spend heavily on infrastructural programs, thereby leading to increased demand for building raw materials, including aggregate. Sustainable nature, together with the cost-effectiveness utilized during manufacturing process design, makes them ideal for large-scale infrastructure schemes. Technological advances regarding recycling operations contribute significantly towards innovative production processes within this segment. For instance, enhanced efficiency levels will enable the production of better-quality recycled aggregates. Thus, as long as reliable standards are in place, firms are likely to accept such secondary products therefore promoting sales for recycled construction aggregates.
Recycled Construction Aggregates Market Highlights:
Recycled Construction Aggregates Market Overview
The Global Recycled Construction Aggregates Market was valued at USD 102.1 Billion in 2018 and is expected to witness a 6.68% CAGR during the forecast period. Today, recycled aggregates are gaining more traction than natural materials. The aggregates materials can include brick, masonry, asphalt and unbound materials. Through supplement cement materials all these aggregates are blended well. These materials are highly cost-efficient than the first grade or natural products. The sustainability and durability of this product are attracting many end users.
Recycling and using the construction aggregates are beneficial for the environment. They are eco-friendly products that do not harm the environment in any way. Today, the awareness about recycled aggregates is higher among end-users. Thus construction industry is depending more on such products. Demolition of waster and reusing it has a wide range of advantages. The construction cost of the building is reduced by holding through this process.
Today, key regions such as Europe and the Asia Pacific are major users of the construction aggregates products. Many facilities treat these types of waste well to produce a quality construction material. The growing construction activities across the globe are increasing the supply and demand of the market. With more governmental initiatives about recycling, there are lots of new opportunities. All these are a factor that contributes to immense recycled construction aggregates market value.
Global Recycled Construction Aggregate Market: Regional Analysis
Globally, the recycled construction aggregates market has been segmented into five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Among these regions, Europe dominated the market in 2018 owing to the high demand for eco-friendly construction aggregates in the construction industry, favorable government policies to encourage factory automation, and increased demand for cost-effective and highly durable construction materials. In North America, the US is a major contributor to the recycled construction aggregate market. The major factor that fuels the growth of the market in the US is the presence of key market players. However, the lack of a skilled workforce and limited awareness regarding the advantages of recycled aggregates and changes in laws and regulations is hampering the market growth. On the other hand, Asia-Pacific is expected to register the highest CAGR during the forecast period.
Segmentation
The Global Recycled Construction Aggregate Market has been segmented based on Product Type, End-Use, and Region. By product type, the global recycled construction aggregates industries is segmented into crushed stone, sand & gravel, cement concrete, and asphalt pavement debris. The crushed stones segment held the largest share of the global recycled construction aggregates market in 2018 and is expected to witness the highest CAGR during the forecast period.
Based on end-use, the global recycled construction aggregates industries is segmented into residential, commercial, infrastructure, and others (industrial and monumental). The infrastructure segment held the largest market share of the global recycled construction aggregates market in 2018 and is expected to witness the highest CAGR during the forecast period.Recent Development
May 2020
Sun rock group is a top company that s integrating with other aggregates' production facilities. It is acquiring the shares of a chemical company that will support new developments. The sun rock groups are known for the production of asphalt mix, with this new acquisition the production rate of new aggregates will increase.
December 2019
Arcosa is involved in various mergers and acquisitions. The company is the top producer of aggregates. It uses natural cement and recycles it into supplementary materials. Its new partnership with cherries Ltd will enhance the overall supply and demand of the company.
Competitive Landscape
Market Research Future includes the following Key Players in the Recycled Construction Aggregate Industry research study: Delta Sand & Gravel (US), Heidelbergcement AG (Germany), Aggregate Industries Management Inc. (US), Green Stone Materials (US), CEMEX (Mexico), and LafargeHolcim Ltd (Switzerland) and others. Intense market competition, advances in technology, and progressive government policies are key factors that fuel market growth. The vendors compete based on product quality, cost, reliability, and workability. LafargeHolcim has been awarded an infrastructure contract by the British Columbia Ministry of Transportation and Infrastructure of over CAD 100 million for a major highway improvement project in Vancouver, Canada. LafargeHolcim also acquired Metro Mix, LCC a ready-mix concrete provider in Colorado.
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