Key Trends and Analysis of the Recycled Construction Aggregates Market:
North America accounted for a significant market share in 2019. The growing construction industry is a major factor contributing to the increasing demand for recycled construction aggregates in this region. For instance, as per The Associated General Contractors Of America, Inc., in 2018, the construction industry contributed 4.1% to the U.S. GDP. Also, as per the same source, in 2018, the total non-residential spending in the U.S. was US$ 761 billion and the total residential construction spending in the U.S. was US$ 546 billion.
Key Takeaways of the Market:
Among application, the residential segment accounted for a significant market share in 2019. According to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, the number of newly completed residential buildings in the U.S. was around 900 thousands of units in May 2014, which increased to 1,200 thousands of units in May 2019. Furthermore, as per the U.S. Department of Housing and Urban Development, in May 2019, the total number of new residential housing completions was 1,213,000, and 1,294,000 building permits were sanctioned. Such increasing construction activities are expected to boost demand for recycled construction aggregates during the forecast period.
Major 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.
Global Recycled Construction Aggregates Market - Impact of Coronavirus (Covid-19) Pandemic
The global recycled construction aggregates market is expected to witness steady growth in the near future owing to the adoption of lockdown and social distancing due to Covid-19 pandemic. However, application of recycled construction aggregates in construction industries over conventional raw materials is expected to witness major growth post pandemic in 2021. Recycled construction aggregates can reduce the spending on raw material, which in turn, is expected to facilitate demand for recycled construction aggregates post pandemic period.