PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498749
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498749
Recycled Concrete Aggregates Market size was valued at USD 9,192.90 Million in 2023, expanding at a CAGR of 8.10% from 2024 to 2032.
Recycled concrete aggregates, or RCAs, are byproducts of breaking down and repurposing concrete buildings. Concrete from pre-existing structures, like buildings, roads, and bridges, is broken down and crushed to generate RCA in smaller, more manageable bits.
Recycled Concrete Aggregates Market- Market Dynamics
Growing emphasis on sustainability and environmental concerns is expected to propel market demand
Construction sectors have a reduced carbon impact when RCA is used. Compared to the manufacture of new concrete aggregates, the creation of RCA produces less CO2. By handling garbage from building and demolition projects, RCA lessens the demand for landfills and its negative effects on the environment. Because RCA requires less money for material and shipping, it is frequently more affordable than natural aggregates. It offers a more affordable option, particularly in areas where access to natural aggregates is restricted.
The market for RCA is fueled by the numerous governments that provide incentives for environmentally friendly building methods and enforce laws that encourage the use of recycled materials. The use of RCA is fueled by the continued demand for infrastructure development, particularly in metropolitan areas, which raises the requirement for building materials. Thanks to improvements in recycling technology, recycled aggregates (RCA) can now be processed more efficiently and have higher quality, which opens new applications for them. RCA is being used more and more because of improvements in construction methods and a focus on green building techniques.
Recycled Concrete Aggregates Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.10% over the forecast period (2024-2032)
Based on Product Type segmentation, unprocessed type segment was predicted to show maximum market share in the year 2023, owing to high demand from waste and landfills problems.
Based on Application segmentation, the roadway & pavement segment was the leading Application in 2023, due to the high construction of roadways and highways.
Based on End User segmentation, the commercial segment was the leading End User in 2023, owing to high demand from commercial construction development.
On the basis of region, North America was the leading revenue generator in 2023, owing to high construction infrastructure.
The Global Recycled Concrete Aggregates Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into two categories based on Product Type: unprocessed and processed. The unprocessed segment dominates the market. Increasing demand to fill landfills and base fills are expected to boost the segment growth.
The market is divided into four categories based on Application: bridges, concrete manufacturing, roadways & pavement, and others. The roadways & pavement segment dominates the market. The increasing number of construction activities on roadways with government support is spurring market growth.
The market is divided into three categories based on End Users: Industrial, commercial, and others. The commercial segment dominates the market and is expected to maintain its high dominance during the forecast period. The rise in the demand for concrete in commercial sector buildings, houses is anticipated to expand at a significant rate with rapid urbanization.
Recycled Concrete Aggregates Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the global market. The growth is fueled by strong regulations promoting sustainable construction practices and waste management encourage the use of RCA. Asia Pacific is estimated to offer potential growth opportunity for market growth.
The recycled concrete aggregates market is highly competitive in nature. Participants in the global market are focusing on expanding their production capacities, regional presence, and product offerings through mergers, acquisitions, and strategic partnerships. Further, companies are investing in research and development to produce high-quality RCAs with minimal environmental impact. Innovations include advanced crushing and screening techniques to ensure the quality and consistency of recycled materials.
In July 2022, EU Innovation Fund granted agreement preparation for ANRAV CCUS project in Eastern Europe.
In 2022, Vulcan Material company completed acquisition of USA Concrete, a major player in the U.S. market.