The management of waste generated by the construction industry has become a cause of major concern. The use of recycled materials and chemicals instead of virgin materials is seen as supporting sustainable construction, while yielding a range of environmental and economic benefits.
New analysis from Frost & Sullivan (chemicals.frost.com), Strategic Analysis of the European Recycled Materials and Chemicals Market in Construction Industry, finds that the market earned revenues of €744.1 million in 2010 and estimates this to reach €1,322.5 million in 2016. The following product segments are covered in the research: recycled PVC, recycled Gypsum, recycled aggregate (concrete) and recycled glass.
"Increasing awareness about green trends is highlighting the importance of energy-saving technological solutions," notes Frost & Sullivan Industry Analyst Deepan Kannan. "Manufacturers who serve the twin needs of consumers – that of providing products which are both performance and price oriented – stand to make major gains."
In an effort to reduce dependence on finite raw materials and protect the environment, improved means of materials recycling and utilisation are being adopted. Such initiatives will propel the development and use of recycled materials and chemicals by the construction industry.
"Sustainable materials can help eliminate the negative impact of building and construction activities on the environment," states Kannan. "The widespread use of recycled material by the construction industry will result in multiple benefits including reduced waste, energy consumption and transportation costs as well as lowered pollution levels and conservation of natural resources and biodiversity."
The economic slowdown had a ripple effect on the construction industry. This, in turn, created immense pressure on the associated recycled materials market.
However, government incentives as part of the economic stimulus package served as lifeblood for the market, resulting in increased consumer spending on retrofitting applications. This has helped stabilise the market, while providing new growth opportunities.
Investing in technological innovation will be key to success. For instance, the introduction of new blends into the market can help manufacturers achieve product differentiation. Constant product optimisation and upgrades according to the changing demands of customers will enable companies to gain a competitive edge.
Increasing customer awareness will be equally important in maintaining market momentum. Currently, only about 30 per cent of the materials used in construction are recycled, even though there is the potential to increase usage to nearly 90 per cent. It is therefore critical to boost awareness among customers about the recyclable or reusable properties of many of the waste materials that end up in landfills.
"It is important for companies to provide innovative and comprehensive solutions and also maintain a cost conscious approach," advises Kannan. "Synergistic partnerships between the construction industry and conservation groups will help in promoting sustainable construction initiatives and fostering market development."
If you are interested in more information on this study, please send an email with your contact details to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com.
Strategic Analysis of The European Recycled Materials And Chemicals Market In Construction Industry is part of the Chemicals & Materials Growth Partnership Service programme, which also includes research in the following markets: Materials for Energy Efficient Buildings in North America, Strategic Analysis of the Global Photovoltaic Materials Market, Chemicals and Materials in Advanced Glazing Systems and Strategic Analysis of the European Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Analysis of the European Recycled Materials and Chemicals Market in Construction Industry / M579