PORTLAND, Ore., Oct. 22, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Construction & Demolition Waste Recycling Market by Source (Construction, Renovation, and Demolition), Service (Collection and Disposal), and Material (Concrete, Bricks, Metal, Wood, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global construction & demolition waste recycling market garnered $126.89 billion in 2019, and is projected to reach $149.19 billion by 2027, witnessing a CAGR of 2.7% from 2020 to 2027.
Drivers, restraints, and opportunities
Benefits related to cost-saving, stringent regulations regarding illegal dumping, and increase in urbanization propel the growth of the global construction & demolition waste recycling market. However, high processing cost and lack of planning in sorting and cleaning activities restrain the market growth. Contrarily, advent of green buildings presents opportunities in the next few years.
Covid-19 Scenario
- Owing to partial or complete lockdown imposed by governments, there have been disruptions in construction activities during the Covid-19 pandemic. This, in turn, affected the construction & demolition waste recycling activities.
- Moreover, recycling plants have been closed down during the lockdown. Once lockdown restrictions have been lifted, some plants have begun their activities with the minimum workforce.
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The demolition segment to maintain its lead position by 2027
On the basis of source, the demolition segment held the highest share, contributing to more than two-fifths of the global construction & demolition waste recycling market share in 2019, and is estimated to maintain its lead position by 2027. This is attributed to generation of waste and its recycling activities. However, the construction segment is estimated to portray at the highest CAGR of 3.6% during the forecast period, owing to increase in waste recycling activities in construction waste generated.
The concrete segment to contribute its highest share during the forecast period
Based on material, the concrete segment contributed to nearly one-third of the total share of the global construction & demolition waste recycling market based on revenue in 2019, and is expected to contribute its highest share during the forecast period. This is attributed to maximum revenue being generated in the form of concrete, thus, giving rise to revenue streams. However, the metal segment is expected to witness the fastest CAGR of 3.5% from 2020 to 2027. This is due to increase in recycling of metal waste instead of dumping it into landfills.
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Europe, followed by North America, to maintain its leadership status by 2027
Based on region, Europe, followed by North America, held the highest market share in 2019, accounting for nearly two-fifths of the total share of the global construction & demolition waste recycling market, and is estimated to maintain its leadership status during the forecast period. This is due to stringent laws implemented on waste generation in the countries. However, Asia-Pacific is projected to witness the highest CAGR of 3.9% from 2020 to 2027, owing to surge in awareness about waste recycling and increase in urbanization.
Leading market players
- Clean Harbors, Inc.
- Daiseki Co., Ltd.
- FCC Environment
- Progressive Waste Solutions Ltd.
- Remondis Se & Co. Kg
- Renewi plc
- Republic Services, Inc.
- Veolia Environment
- Waste Connection
- Waste Management Inc.
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