RECYCLED CONSTRUCTION AGGREGATES MARKET ANALYSIS

Recycled Aggregate Concrete (RAC) is usually the concrete produced from construction and demolition wastes, which either partially or completely replaces conventional Natural Aggregates (NAs). Examples of recycled aggregate include recycled concrete from construction and demolition waste material and railway ballast, primarily consisting of concrete but also including aggregate materials such as sand, gravel, slag, and crushed stones. These aggregates are collected and reused for construction activities.

The global recycled construction aggregates market is projected to surpass 88.4 Bn by the end of 2030 in terms of volume, exhibiting a CAGR of 9.5% during the forecast period (2023 to 2030).

 Drivers

Expanding Construction Industry is Driving the growth of market

The expanding construction industry is expected to drive the growth of the global recycled construction aggregates market during the forecast period. For instance, according to Global Construction Perspectives and Oxford Economics, global construction output is forecast to be 35% higher over the next decade to 2030 compared to the previous decade to 2020. A cumulative total of US$ 135 trillion in construction output is forecast in the decade to 2030.

Figure 1. Global Recycled Construction Aggregates Market Revenue Share (%), By Region, 2021

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Among regions, Asia Pacific held the dominant position in the global recycled construction aggregates market in 2021, reporting 42% market share in terms of volume, followed by North America. This is due to increased number of infrastructure activities in this region. China contributes around 60% of the market share in this region.

Market Restraint

The recycled construction aggregates market is severely affected due to declining construction activities during severe rains and winters, worldwide. These factors are expected to restrain the growth of the global recycled construction aggregates market during the forecast period.

Market Opportunities

The key players in the global recycled construction aggregates market are focusing on mergers and acquisitions to expand their presence, and thereby increase their consumer base. For instance, in July 2021, Vulcan Material Company acquired USA Concrete, a leading supplier of ready mixed concrete and aggregates.

Market Trends

Rising awareness regarding the depletion of natural resources has boosted the demand for recycled materials for construction activities. Therefore, the demand for recycled construction aggregates is expected to increase during the forecast period.

Figure 2. Global Recycled Construction Aggregates Market Revenue Share (%), By Application, 2021

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On the basis of application, the recycled construction aggregates market is segmented into commercial, residential, industrial, and infrastructure. In 2021, the infrastructure segment accounted for 40% of the volume share

Global Recycled Construction Aggregates Market - Impact of Coronavirus (COVID-19) Pandemic

The global recycled construction aggregates market is expected to witness significant growth in 2021, post the COVID-19 pandemic. The construction industry witnessed significant growth in 2021. Furthermore, various countries such as the U.S., started construction activities in the second quarter of 2020. This suggests that the demand for recycled construction aggregates did not faced a major decline during the pandemic and is expected to recover by the end of 2020 in developed economies

Key Developments

• In July 2022, EU Innovation Fund shortlisted Heidelberg’s ANRAV CCUS for grant agreement preparation, indicating that ANRAV intends to be the first full-chain CCUS project in Eastern Europe. It will help connect carbon capture facilities at the firm business, Devnya Cement.
• For instance, in October 2022, according to data from India Brand Equity Foundation (IBEF), under the Union Budget 2021-22, the Smart Cities Mission Scheme in India has been awarded ~US$ 868 million as compared to US$ 457 million in FY21. Thus, smart city development is resulting in growing revenue generation opportunities for the Asia Pacific recycled construction aggregates market.

Competitive Section

The key players operating in the global recycled construction aggregates market are Tarmac, Delta Sand & Gravel Co., LafargeHolcim Ltd., Aggregate Industries Management, Inc., CEMEX, Vulcan Materials Company, CESPA, Green Stone Materials, CRH Plc., and Heidelberg Cement AG.