November 18, 2021
As cited by the research report titled ‘Global Construction & Demolition Waste Market Size study, by Source (Residential, commercial, Industrial, Municipal) by Type (Soil, Sand & Gravel, Concrete, Bricks & Masonry, Wood, Metal, Other) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global construction & demolition waste market was worth USD 25.26 billion in 2020 and is projected to grow with a CAGR of 5.3% to accumulate USD 36.26 billion over 2021-2027.
Growing infrastructural development activities is a major factor driving global construction & demolition waste market growth. As per ice.org.uk, global construction market is likely to amass USD 8 trillion by 2030.
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In addition, increasing government initiatives and policies related to the recycling of construction & demolition waste are positively swaying the industry dynamics. According to epa.gov, around 600 million tons of construction & demolition waste was produced in the U.S. in 2018.
For the record, construction & demolition waste is generated during construction of infrastructures as well as the maintenance and demolition of existing infrastructures like buildings, roads, and bridges. Moreover, rising population and globalization has led to an increase in the overall volume of building and demolition debris, thus augmenting the overall market development.
Speaking of negatives, lack of standardized laws & restrictions related to illegal dumping of construction & demolition waste are likely to hinder market progression over the forecast timeline of 2021-2027.
Based on source type, global construction & demolition waste industry is segmented into residential, industrial, commercial, and municipal. Speaking of type, the marketplace is categorized into soil, concrete, wood, sand & gravel, bricks & masonry, metal, and others.
The geographical analysis of the industry is studied for the major regions like North America, Asia Pacific, Europe, Latin America, and the rest of the world. Experts cite that Asia pacific region is poised to grab significant market share owing to rising construction & building activities as well as increasing demolition projects.
Meanwhile, Europe market is anticipated to showcase considerable growth rate over the estimated timeline of 2021-2027, on account of favorable government rules & regulation related to recycling of construction waste across the region.
Prominent players influencing the global construction & demolition waste industry trends are Waste Connections Inc., Progressive Waste Solutions Ltd., FCC Environment Ltd., Daiseki Co. Ltd., Waste Management Inc., Republic Services, Axens SA, Veolia Environnement S.A., Suez S.A., and Clean Harbors Inc.