The utilization of recycled construction raw materials has gained immense popularity among renowned construction and building developers. These materials provide numerous benefits, such as eco-friendliness, cost-effectiveness, higher flexibility in procurement, and easy availability. Industry experts say that recycled coarse concrete help bring down the costs incurred for conventional construction. Therefore, the cost-effectiveness advantage of recycling is sparking the interest of a lot of consumers.
The fast urbanization rate is giving rise to a number of infrastructure activities, thereby bridging the supply and demand gap. Several vendors working on providing recycling machines at an affordable price to the customers in various regions, enhancing recycled waste in multiple construction projects.
The extensive deployment of artificial intelligence technology, as well as IoT-based devices within the construction industry, is offering a host of lucrative opportunities to the players. The surging use of AI-based robots in sorting and segregating debris to offer high-value and high purity materials from mixed construction will favor the market. The expanding application range of AI integrated recycling facilities, IoT-based devices, and robotic technology are emerging as significant trends in the worldwide market.
The management and recovery of waste is a challenging task to be carried out in a sustainable manner owing to illegal dumping as well as resource hoardi
ng. To eliminate incorrect and unlawful trash disposal, various government bodies are establishing strict regulations and laws. Owing to data shortages alo
ng with poor data management techniques, it is tough to review the whole magnitude of illegal dumping. Estimates confirm that in 2017, spent over 65
million to manage and monitor illegal dumping activities. This is proving to be a very expensive method and can, therefore, arise as a significant challenge for the players in the years to come.
The construction waste management industry has been considerably affected by outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials coupled with thepandemic have restricted the growth rate of the global market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth. Also, the emergence of vaccines for the novel coronavirus and the reopening of several recycling units worldwide would result in the re-initiation of the construction waste management market at its full-scale capacity.