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.
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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 CO?, 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
Report Metrics | Details |
Base year considered | 2022 |
Forecast Period considered | 2023-2028 |
Base year market size | $10.3 billion |
Market Size Forecast | $17.4 billion |
Growth Rate | CAGR of 9.3% for the forecast period of 2023-2028 |
Segment Covered | Type, Form, End-Use, and Region |
Regions covered | North America, Europe, Asia-Pacific, South America and the Middle East and Africa |
Countries covered | China, Japan, India, Australia, Germany, U.K., France, U.S., Canada, Mexico, Brazil, Chile, Argentina, Saudi Arabia, UAE, and Turkey |
Key Market Drivers | ? increasing need for decarbonization of the construction industry. ? Growing demand for sustainable construction. ? Use of recycled concrete in carbon capture and sequestration. ? Government regulations to address increasing environmental concerns |
Segmentation Analysis:
This report on the Global Recycled Concrete Market provides comprehensive insights and analysis, addressing the following key questions:
Some of the Key Market Players Are:
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