The global construction & demolition waste recycling market size was valued at $126,897.2 million in 2019, and is expected to reach $149,190.9 million by 2027, registering a CAGR of 2.7% from 2020 to 2027. Construction & demolition waste recycling is the collection, transportation, and disposal of material and other waste that is produced while construction process. It involves recycling the waste material and making it fit to be reused and treating & disposing non-recyclable material in a safe and efficient manner.
Growth of the global construction & demolition waste recycling market is driven by proactive government measures to reduce illegal dumping. In addition, surge in population and increase in globalization have led to an increase in the overall C&D waste volume, worldwide. Urbanization is one of the major reasons to generate C&D waste. C&D waste is generated while building new infrastructures or renovation and demolition of old infrastructures such as buildings, bridges, and roads. Moreover, increase in infrastructural developments in emerging economies of Latin America, Africa, and Asia along with demolition activities carried out in developed nations to reconstruct advanced infrastructures in the same place has led to increase in enormous amount of C&D waste.
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However, awareness regarding the recycling and reusing of these materials is rising among the individuals. Moreover, reusing the recycled waste material saves excavation of new natural resources; thus, conserving the natural resources. Similarly, recycling and reusing the waste material reduce the dumping of waste in landfills, which helps prevent the environmental pollution. In addition, the total cost of the project is reduced as the secondary recycled material costs less as compared to that of the new one. These factors are expected to significantly contribute toward the growth of the global C&D waste recycling market. However, high cost of sorting, cleaning, and operating construction & demolition waste recycling solutions is expected to restrain the construction & demolition waste recycling market growth.
In addition, COVID-19 directly affected the construction activities, owing to lockdown in several nations worldwide. Several countries have implemented partial or complete lockdown, which drastically led to fall of construction activities. This led to decline in C&D waste generation and therefore its recycling. However, introduction of vaccines for COVID-19 and reopening of recycling facilities are anticipated to lead to re-initiation of construction & demolition waste recycling industry at their full-scale capacities.
Competition analysis
The major players profiled in the construction & demolition waste recycling market include 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, and Waste Management Inc.
These construction & demolition waste recycling companies have adopted strategies such as business expansion, acquisitions, joint venture and partnership to offer better services in the market.
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