Cellular Concrete Market to Attain a CAGR of 6.20% from 2023 to 2030 – Report by Market Research Future (MRFR)
Cellular Concrete Market Information Report, by Application (Building Material, Road Sub-bases, Concrete Pipes, Roof Insulation, Bridge Abutment, and others), By End-user (Residential and Non-residential) and By Region – Forecast To 2030
New York (US), April 07, 2023 (GLOBE NEWSWIRE) — Cellular Concrete Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), Cellular Concrete Market Information by Application, End-User, and Region – Forecast till 2030″, The cellular concrete market can garner a CAGR of 6.20% between 2023 and 2030, reaching a value of USD 1.2 Billion.
A type of lightweight concrete called cellular concrete is made of lime-pozzolan, cement-pozzolan, cement-silica, Portland cement, and chemicals that produce gas or foam. A common density range for cellular concrete is 300 kg/cubic meter to 1800 kg/cubic meter.
Because to limits on construction activity, the market for cellular concrete was restricted during the COVID-19 epidemic. Also, during the lockout, it was unable to produce cellular concrete products properly.
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Market Competitive Landscape:
The affluent vendors in the cellular concrete industry are
- Saint Gobain (France)
- Xella Group (Germany)
- Cellucrete (U.S.)
- Cematrix (Canada)
- Litebuilt (Australia)
- Laston Italiana S.P.A (Italy)
- Cellular Concrete Technologies (U.S.)
- Aerix Industries (U.S.)
- ACICO (Kuwait)
- B. G. Shirke Construction Technology Pvt. Ltd (India)
- Broco Industries (Indonesia)
- Conco (U.S.), JK Lakshmi Cement Ltd (India)
- CellFill, LLC (U.S.)
- Aircrete Europe (Netherlands)
- Among others.
|Market Size in 2030||USD 1.2 Billion|
|Forecast Units||Value (USD million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application, End-user, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Growth in remodeling and restructuring of homes
Growing residential and non-residential construction activities
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Market USP Covered:
Due to the expansion of the construction sector, there has been a noticeable increase in the demand for cellular concrete during the past several years. For the construction of partition walls in residential and commercial structures, cellular concrete is particularly useful. Moreover, the low density of cellular concrete speeds up construction and decreases the dead weight of the building. It can also be utilized for geotechnical and backfill purposes in infrastructure projects. Also, the benefits of cellular concrete include fire and termite resistance, which improves its serviceability. The cellular concrete industry is expanding as a result of its beneficial qualities, including heat insulation, thermal insulation, and resistance to freezing.
Rapid urbanization is occurring everywhere in the globe, particularly in emerging countries, and the world’s population is growing quickly. Around 9.5 billion people are predicted to live on the planet by 2050, up from over 7.5 billion in 2021. In emerging economies, the demand for residential and commercial building complexes is significantly increased by the growing population and urbanization. For instance, the Indian real estate industry might grow from USD 1.72 billion in 2019 to USD 9.30 billion in 2040, according to the India Brand Equity Foundation.
Building materials including blocks, floor panels, and wall panels are frequently fabricated using autoclaved aerated concrete, a kind of cellular concrete. The demand for this particular cellular concrete is especially high, which will be a great opportunity for the players.
Other building materials, especially those that have been utilized for a long time like gravel, autoclaved sand bricks, and plain concrete slurry, pose a serious threat to cellular concrete. This element can limit the market’s expansion.
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COVID 19 Analysis
The global spread of COVID-19 had a significant negative influence on people’s life as well as the wellbeing of the community at large. It started off as a human health issue before developing into a serious threat to trade, the economy, and the financial system on a worldwide scale. Cellular concrete building component manufacture was suspended because of lockdown during the COVID-19 outbreak. Construction of residential and non-residential structures was first affected by the economic recession.
The COVID-19 pandemic’s intensity has, however, greatly decreased as a result of the advent of several vaccinations. The number of COVID-19 cases has drastically decreased by the middle of 2022. As a result, the real estate sector has recovered significantly, and factories that produce cellular concrete have also fully resumed operations.
The cellular concrete market has been segmented based on the application and includes building material, road sub-bases, concrete pipes, roof insulation, bridge abutment, and others.
Due to the fact that the majority of cellular concrete products, such as blocks, panels, slabs, and lintels, are included in construction material, which now holds the biggest market share, it is anticipated that this trend will continue. The sector for road sub-bases, which is followed by the construction materials and concrete pipes, will have the greatest CAGR over the projection period.
The cellular concrete market has been segmented based on the end-users and includes sub-segments like residential and non-residential. The Non-residential dominates the end-user segment of the market. The governments belonging to both the developing and developed economies are focusing on the development of public infrastructure which will boost the demand for cellular concrete in this global segment. This concrete is used for the construction of commercial buildings and infrastructures such as office spaces, shops, restaurants, amongst others like hotels, industrial buildings, schools, and hospitals.
However, the usage of cellular concrete in the residential sector has increased significantly over the past 30 years, both for new construction and for building repairs and renovations. It is utilized in residential constructions as insulating plates, hollow blocks, and unreinforced wall blocks. It may also be used to make partition panels, reinforced walls, and roof and floor materials.
Cellular concrete is frequently used as a roofing insulation material. To provide the necessary insulation, cellular concrete is often used alone or in combination with insulation foam. On decks and floors where the designer demands thermal insulation and noise control, cellular concrete is employed. Because to its low density and excellent workability, it may be used to lay floors in high rises and residential complexes at a reasonable cost.
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Both in terms of market volume and market value, the APAC region dominates the cellular concrete industry. The Asia-Pacific market share was dominated by China. The demand for cellular concrete is anticipated to increase throughout the forecast period due to increasing investments and building activity in the nation. The region’s economy has been steadily improving, which has improved customers’ financial situations and increased demand for homes and other infrastructure projects in the nation. 2016 marked the beginning of China’s 13th Five Year Plan and was a significant year for the country’s engineering, procurement, and construction (EPC) sector. Also, during the year, the nation experimented with innovative business methods both domestically and abroad.
Also, prohibitions on foreign investment in office buildings, high-end hotels, theme parks, international exposition centers, and land development have been removed. During the course of the projection period, it is anticipated that the rise in the infrastructure and transportation sectors would support the country’s cellular concrete market.
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