Global Recycled Concrete Market to Grow at a CAGR of 9.3% During Forecast Period 2023-2028

Rising global demand for sustainable construction materials propels the recycled concrete market, growing at 9.3% annually. With the ability to replace 30% of virgin concrete volume, it offers eco-friendly solutions without compromising strength.

BOSTON, April 30, 2024 /PRNewswire/ -- According to the latest BCC Research study, the demand for Global Recycled Concrete Market is growing from $11.1 billion in 2023 to $17.4 billion by the end of 2028, at a compound annual growth rate (CAGR) of 9.3% from 2023 through 2028.

The report explores how recycled concrete is used in homes and businesses globally. It discusses market trends, forecasts, and key players, all in simple terms. Plus, it explains how currencies are converted to U.S. dollars for clarity.

In North America, the importance of recycled concrete for sustainability is recognized, driving its significant growth. Government associations like US DOT, PCA, EPA, and FHWA are standardizing practices. With the concrete industry contributing over 8% of global carbon emissions, recycling offers a competitive advantage. Innovations like mineral carbonation technology show promise for reducing emissions further. Major emitters like China, the U.S., and India need to adopt eco-friendly practices to address the critical global challenge of carbon emissions.

To gain further insight into the report Global Recycled Concrete Market, click here for more information.

Driving Forces in the Global Recycled Concrete Market

Increasing Need for Decarbonization of the Construction Industry: Construction is a big emitter of greenhouse gases, so there's pressure to cut emissions. Recycled concrete helps by reducing the energy needed for new concrete and lessening the demand for fresh materials.

Growing Demand for Sustainable Construction: Sustainability is essential in construction now. Recycled concrete saves resources, cuts waste, and attracts eco-conscious clients.

Use of Recycled Concrete in Carbon Capture and Sequestration: Recycled concrete absorbs CO₂, helping with carbon capture efforts. Builders can use it to show they're serious about the environment.

Government Regulations Addressing Environmental Concerns: Governments are making rules to protect the environment, pushing builders to use recycled materials like concrete. Following these rules shows a commitment to responsible building.

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Report Synopsis 

Segmentation Analysis: 

• Product Type: Recycled concrete aggregates come in various forms: crushed stone for road construction, asphalt pavement debris for new asphalt mixtures, sand and gravel for concrete production, and cement concrete debris for various construction applications.
• Form: Aggregates are available in two forms: unprocessed, directly obtained from demolition sites, and processed, undergoing crushing and screening for specific size and quality requirements.
• End Use: Recycled concrete aggregates find application in residential construction, industrial purposes such as infrastructure development and factory floors, and in infrastructure projects like roads and bridges.
• Region: Different regions exhibit varying levels of adoption: Asia Pacific emphasizes environmental awareness and infrastructure development, Europe focuses on sustainable construction, North America promotes resource conservation, MEA countries gradually adopt recycled aggregates despite challenges, and South American countries explore their benefits for construction.

This report on the Global Recycled Concrete Market provides comprehensive insights and analysis, addressing the following key questions: 

1. What is the projected market size and growth rate of the market?
   The market is projected to grow from $10.3 billion in 2022 to $17.4 billion in 2028 at a compound annual growth rate (CAGR) of 9.3% during the forecast period.
   
   
2. What are the key factors driving the growth of the market?
   The increasing need for decarbonization of the construction industry, the low cost of recycled concrete, the demand for sustainable construction, and the potential to preserve natural resources are key factors driving the market.
   
   
3. What segments are covered in the market? 
   The segments covered in the market are product type, form, and end-use. The product type segmentation includes crushed stone, asphalt pavement debris, sand & gravel, and crushed concrete debris. The end-use segmentation includes infrastructure, industrial, and residential. The segmentation by form includes unprocessed and processed.
   
   
4.  Which product type segment will dominate the market by the end of 2028?
   The crushed concrete segment will dominate the market by the end of 2028.
   
   
5.  Which end-use segment will dominate the market by the end of 2028?
   The infrastructure segment will dominate the market by the end of 2028.
   
   
6.  Which region will dominate the market by the end of 2028?
   The market has been classified into five regions, namely Asia-Pacific, North America, Europe, MEA, and South America. Asia Pacific holds the highest market share due to the growing construction industry. The increasing focus on ensuring environmental sustainability is also propelling the CDW recycling industry in the region, hence increasing the availability of recycled concrete sources.

Some of the Key Market Players Are:

•  ARCOSA INC.
• BIG CITY CRUSHED CONCRETE
• CEMEX S.A.B. DE C.V.
• CRH
• GREENSTONE MATERIALS INC.
• HEIDELBERG MATERIALS
• HOLCIM
• SOUTHERN CRUSHED CONCRETE LLC
• TOP GRADE SITE MANAGEMENT LLC
• VULCAN MATERIALS CO.

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