(MENAFN- GlobeNewsWire - Nasdaq) Rockville , May 22, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global recycled construction aggregates (rca) market is estimated at US$ 35.6 billion in 2022 and is anticipated to magnify at a CAGR of 7.2% during the forecast years of 2022 to 2032.
Recycled construction aggregates are used for laying building foundations, roads, highways, and the construction of railway track ballast and garden beds. Growing infrastructure development and construction across the world is paving the way for high sales opportunities in this market.
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For instance, the legislation includes about US$ 550.0 billion in new federal investment for America's water infrastructure, roads & bridges, and others. Similarly, the Indian government invested US$ 1.4 trillion in infrastructure development from 2019 to 2023. Further, the government has proposed an investment of US$ 750 billion for railways infrastructure development from 2018 to 2030.
Such surging infrastructure development requires construction aggregates; however, virgin construction aggregates are costly and require intense mining. On the contrary, recycled construction aggregates are cost-effective and sustainable in nature, and their adoption in construction is an approach to a greener future.
Key Takeaways from Market Study
The recycled construction aggregates market was valued at US$ 33.3 billion in 2021 North America reflects potential growth opportunities and is estimated to project a CAGR of 6.2% from 2022 to 2032 Based on end use, roads and bridges accounted for a major market share of 85.8% in 2021, and the segment is estimated to expand at a CAGR of 7.2% through 2032. The historical CAGR for the market from 2017 to 2021 was 5.6% Crushed stones holds major dominance over the RCA market under the type segment. APAC is estimated to reflect high growth and offer lucrative sales opportunities for market players during the assessment period.
“Surging infrastructure development coupled with booming residential construction across emerging economies to drive high sales opportunities,” says a Fact.MR analyst.
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Analysis of Eminent Market Players
Companies are focused on adopting innovative marketing strategies to stay competitive in this fragmented market. Market players are aiming to win huge infrastructure development contracts to capture high sales opportunities by working on pricing.
Pricing has become a key differentiating strategy that can significantly impact a company's growth trajectory. Digital platforms also assist companies in expanding their business and reaching remote customers by improving brand recognition.
Delta Sand & Gravel Co. HeidelbergCement AG Aggregate Industries Management, Inc. Green Stone Materials CEMEX, Vulcan Materials Company CESPA LafargeHolcim Ltd. CRH Plc. Tarmac
RCA Industry Research Segmentation
By Type : Sand and Gravel Crushed Stones Cement Concrete Asphalt Pavement Debris
By End Use : Roads and Bridges Residential Industrial
By Region : North America Latin America Europe APAC MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global recycled construction aggregates market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (crushed stones, sand & gravel, cement concrete, asphalt pavement debris) and end use (roads & bridges, residential, industrial), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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