Country-wise Insights
- The Asia-Pacific market for recycled concrete is expected to experience significant growth, increasing from $6.3 billion in 2023 to $10.0 billion by the end of 2028. This represents a compound annual growth rate (CAGR) of 9.7% during the forecast period of 2023 to 2028.
- The European market for recycled concrete is predicted to increase from $2.0 billion in 2023 to $3.0 billion by the end of 2028. This growth is expected to occur at a compound annual growth rate (CAGR) of 8.6% during the forecast period of 2023 to 2028.
Benefits of Recycled Concrete
Contractors can significantly reduce costs and promote sustainable construction practices by incorporating recycled concrete into their projects, making concrete recycling increasingly popular.
- Cost savings - Recycling concrete is cheaper than buying new materials, as it saves on disposal and transportation costs. This can help reduce overall project expenses and increase profitability for construction companies.
- Environmental benefits - Concrete recycling has a notable and positive impact on the environment. By repurposing waste materials, this process reduces the demand for newly extracted raw materials, which helps to conserve natural resources. Additionally, it significantly reduces the amount of waste sent to landfills. This not only saves valuable space but also minimizes environmental pollution caused by waste accumulation.
- Energy savings - The process of recycling concrete consumes less energy as compared to extracting and processing new raw materials. By using recycled concrete, energy consumption is significantly reduced in various stages such as mining, manufacturing, and transportation. This energy-efficient approach contributes to a more sustainable construction industry and helps bring down the overall carbon footprint.
- Durable - Recycled aggregates are just as durable and effective as freshly quarried materials. Recycled aggregates make effective bases, fillers, and drainage. Good sourcing and processing by professionals ensures quality is maintained.
Challenges of Recycled Concrete Aggregates Market
The global market for recycled concrete aggregates (RCAs) is facing challenges that limit its expansion. The primary issue is the lack of awareness among consumers and construction companies about the benefits of using RCA. Additionally, the inconsistency in the quality of recycled concrete material, lack of standardization and certification processes, and availability of raw materials are constraints in the RCA market. Addressing these factors will be crucial for the continued adoption of RCAs in the construction industry. The global market for recycled concrete aggregates (RCAs) is facing several challenges that are hindering its expansion. One of the primary challenges is the lack of awareness among consumers and construction companies about the benefits of using RCAs. Many consumers and construction companies are still unaware of the environmental and economic advantages that RCAs offer, which can limit their adoption.
Leading Key Companies in the Recycled Concrete Market
CRH plc - CRH is an international company that has been providing diversified building materials since 1970. The company is based in Dublin, Ireland and manufactures and supplies a wide range of products for the construction industry across North America, Europe, and some regional locations in Asia. It has operations in 29 countries on four continents, with 3,160 locations in total. CRH has a strong building materials business in North America and Europe, with operations in 48 US states, 23 European countries, and seven Canadian provinces.
VULCAN MATERIALS CO. - Vulcan Materials Co. produces construction materials including aggregates, asphalt, and RMC for various structures. It operates globally through four segments: aggregates, asphalt, concrete, and calcium. As of Dec. 2022, the company has 404 active aggregate facilities, 71 asphalt facilities, 142 concrete facilities, and one calcium facility. In 2022, the company met its environmental sustainability goals by securing 5% of all electricity from renewable energy sources. It also supplied 2.1 million tons of recycled asphalt pavement and 1.7 million tons of recycled concrete for projects. Vulcan Materials Co. reported that its worldwide sales and gross profit increased by 32% and 13%, respectively, in 2022.
TOP GRADE SITE MANAGEMENT LLC - Top Grade Site Management was founded in 2004 and provides construction site management services. It also processes and delivers various types of construction aggregates, including granular materials, fine and coarse aggregates, topsoil, dust, and compost. Additionally, the company offers recycled asphalt and concrete materials for various purposes.
Future of Recycled Concrete Market
According to the report by BCC Research, the global market for recycled concrete was valued at $11.1 billion in 2023. The market is expected to grow steadily at a rate of 9.3% from 2023 to 2028 and reach over $17.4 billion by the end of 2028. Recycled concrete offers a sustainable solution to the environmental challenges of traditional concrete production. Its benefits include resource efficiency, enhanced durability, and cost-effectiveness. However, challenges such as quality control and regulatory constraints persist. Despite these hurdles, the industry is rapidly evolving, driven by innovation, regulatory support, and increased awareness. As construction practices continue to embrace sustainability, recycled concrete stands as a beacon of hope, revolutionizing industry while paving the way towards a more resilient and eco-friendly future.
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