Report : Asia Pacific Reclamation Sand Market Forecast to 2030 - Regional Analysis - By Process (Wet Reclamation, Mechanical Reclamation, and Thermal Reclamation) and Application (Foundry, and Construction & Others)
At 6.6% CAGR, the Asia Pacific Reclamation Sand Market is Speculated to be Worth US$ 1,767.20 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the Asia Pacific reclamation sand market was valued at US$ 1,055.98 million in 2022 and is expected to reach US$ 1,767.20 million by 2030, registering a CAGR of 6.6% from 2022 to 2030. Depletion of natural sand resources and growing demand for sand in construction and industrial applications are among the critical factors attributed to the Asia Pacific reclamation sand market expansion.
Natural sand is considered a finite resource, and the extraction of sand from rivers and beaches has resulted in severe environmental damage. Governments and environmental agencies have imposed strict regulations on the extraction of natural sand, leading to a shortage of supply. As a result, the demand for reclamation sand has increased significantly. Reclamation sand is made from recycled materials such as crushed concrete, glass, and ceramics, which reduces the need for natural sand extraction. The use of reclamation sand not only helps to conserve natural resources but also reduces carbon emissions and waste disposal. The growing awareness of sustainable development practices has also contributed to the popularity of reclamation sand. Governments and construction companies are increasingly adopting sustainable practices to mitigate the impact of construction activities on the environment. Approximately 50 billion tons of sand is extracted annually for extraction and industrial activities, and the rate of replenishment of this resource is significantly slower; hence, reclamation sand is used as a substitute for natural sand. In addition to environmental benefits, reclamation sand also offers economic advantages. It is often cheaper than natural sand, which makes it an attractive option for construction enterprises. Moreover, the use of reclamation sand can help companies meet sustainability targets, which can improve their reputation and attract environmentally conscious clients. Thus, the depletion of natural sand resources is driving the reclamation sand market.
On the contrary, limited supply of reclamation sand hampers the growth of Asia Pacific reclamation sand market.
Based on process, the Asia Pacific reclamation sand market is segmented into wet reclamation, mechanical reclamation, and thermal reclamation. The thermal reclamation segment held 52.4% share of the Asia Pacific reclamation sand market in 2022, amassing US$ 552.92 million. It is projected to garner US$ 940.39 million by 2030 to expand at 6.9% CAGR during 2022-2030.
In terms of application, the Asia Pacific reclamation sand market is bifurcated into foundry and construction & others. The foundry segment held 93.6% share of the Asia Pacific reclamation sand market in 2022, amassing US$ 988.59 million. It is projected to garner US$ 1,659.08 million by 2030 to expand at 6.7% CAGR during 2022-2030.
Based on country, the Asia Pacific reclamation sand market is categorized into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. China held 62.6% share of Asia Pacific reclamation sand market in 2022, amassing US$ 661.33 million. It is projected to garner US$ 1,136.08 million by 2030 to expand at 7.0% CAGR during 2022-2030.
Key players operating in the Asia Pacific reclamation sand market are Asahi Yukizai Corp, CQMS Razer Pty Ltd, Iluka Resources Ltd, JFE Mineral & Alloy Co Ltd, Mangalore Minerals Pvt Ltd, MAT Foundry Group Ltd, Pioneer Construction Materials Pty Ltd, and TOCHU Corp, among others.
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