The report – ‘Recycled Construction Aggregates Market Forecast, Trend Analysis & Competition Tracking – Global Insights 2018 to 2027’, prepared my Fact.MR – predicts that markets will remain bullish in coming years. The main market drivers are urbanisation and related infrastructure development and an increased focus on environmental conservation.
According to the report, “[r]apid urbanisation, and proliferation in construction and infrastructure development activities allude significant amount of waste being generated worldwide, which has been a key environment concern among industrialists. Continued emphasis on the environmental conservation has further instigated the critical need for recycling and reusing construction materials”.
Globally, there continues to be a growth in demand in line with growth in residential construction and infrastructure development. According to ‘Global Construction 2030’, published by Global Construction Perspectives and Oxford Economics, the worldwide construction output is likely to reach $USD15.5 trillion ($AUD21.4 trillion) by 2030, with the US, China, and India accounting 57 per cent of global growth.
Developed vs developing countries
There is more of an emphasis on the environmental benefits of recycled construction aggregates and effective waste management in developed countries. In some regions, this is being translated into government policy and regulation. Under the Waste Framework Directive, the European Union aims to recycle around 70 per cent of construction and demolition materials by 2020.
One of the primary challenges facing the recycled aggregates industry in developing countries is the lack of government initiatives. This continues to hamper growth.
“The government interventions including policies for waste management is still in limbo in some of the developing countries,” the report stated. “Compared to pace of urbanisation in developing countries, the measures for construction and demolition waste management are sluggish.”
Further challenges, like the lower affordability of recycling and reuse of construction aggregates, continue to impede developing markets.