Recycled Concrete Aggregates Market Growth & Trends
The global recycled concrete aggregates market size is anticipated to reach USD 13,009.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2022 to 2030. The market is predominantly driven by the growing usage of recycled materials in order to conserve natural resources. Concrete pavement companies consider the recycling of concrete pavements and the use of processed recycled concrete aggregate within new pavement structures as a standard and essential practice due to various economic, environmental, and societal (sustainability) benefits.
Concrete aggregate made from recycled materials reduces the harmful environmental effects of cement manufacturing, creating a more sustainable product. Concrete’s popularity as a building material and the increased demand for non-renewable raw materials, such as aggregate, are causing an increase in demand for non-renewable raw materials. Recycled concrete aggregates are widely used in the roadway and pavement, bridges bulk fills and riverbank protection, concrete manufacturing, and in other contractions activities. Thus, the demand for recycled concrete aggregates is increasing across the globe as a sustainable source of materials.
Key concrete aggregate manufacturers are promoting recycled materials as sustainable and environmentally friendly, which has a positive impact on the market. Additionally, the on-site recycling service offered by several manufacturers creates huge opportunities for the market. A major impact of the COVID-19 pandemic has been felt by the construction sector, a sensitive sector to economic cycles. There have also been disruptions in the industry as many countries have closed their construction sites. In addition, most of the open sites have faced disruptions in supply chains and operational restrictions.
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Recycled Concrete Aggregates Market Report
Recycled Concrete Aggregates Market Report Highlights
- On the basis of product, the unprocessed recycled concrete aggregates segment dominated the market with a value share of 63.6% in 2020 and is anticipated to grow at a CAGR of 6.5% during the forecast period 2021–2028. This is due to the high demand for RCA for bulk fills, landfills, backfill material, riverbank protection, base fill for drainage structures, and road construction
- Based on application, the concrete manufacturing segment is expected to witness a CAGR of 7.6% from 2021 to 2028 due to the increasing demand for high-quality concrete manufacturing across the globe
- North America dominated the market with a value share of around 40.7% in 2020. Government initiatives, as well as a large number of recycling material manufacturers, are the keys to the high demand for recycled concrete aggregates in the region
- In February 2021, LafargeHolcim has acquired Edile Commerciale and Cemex Rhone Alpes, both ready-mix concrete and aggregate suppliers located in Milan, Italy, and Lyon. With 35 ready-mix concrete plants, it strengthens its position in two of the most dynamic and attractive regions of Europe, both with strong demographic trends and major infrastructure projects
