Market Highlights:
For the ongoing forecast period of 2023-2030, the market is projected to reach a final market value worth USD 451.7 million. The global cellular concrete market is likely to attain a global market CAGR of 6.20%.
Available easily in the market, cellular concrete is replacing traditional concrete materials in the construction industry and it is. It is a lightweight construction material made of Portland cement, water, foaming agent, and compressed air. It is also known by other names, such as, aerated concrete, and Autoclaved Cellular Concrete (AAC). The growth in remodeling and restructuring of the homes is also expected to fuel the demand for the cellular concrete market. Additionally, growing focus towards environmentally sustainable green building construction materials, which reduces overall overhead expenses has boosted industry growth. However, cellular concrete has stiff competition from other construction materials, especially from the traditionally used materials such as plain concrete slurry, autoclaved sand bricks, and gravel. This factor may restrict the growth of the market.
The governments across all regions are seen promoting and developing their construction sector. The emerging nations are the ones that are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the growth of cellular concrete market. India has lately had initiatives such as change in arbitration norms for construction companies, the passage of the Real Estate (Regulation and Development) Act 2016, and the amendment to Benami Transactions Act. The government has announced them to boost the construction industry in the country.
Geographically, Asia Pacific region is the fastest growing market for the cellular concrete. Increasing spending capacity, and improved living standard, drive the growth of the market in region. China, Japan, India, and Singapore are the major markets in Asia Pacific. North America regions are expected to contribute significantly during the forecast period.
Market Research Analysis:
For the purpose of this study, the global cellular concrete market has been divided based on application, and by end-user. On the basis of applications, building material accounts the largest market share and is expected to remain dominant over the forecast period as most of the cellular concrete products are equipped in it such as blocks, panels, slabs, and lintels. The road sub-bases segment will register the highest CAGR during the forecast period, followed by building materials and concrete pipes.
On the basis of end-user, non-residential dominates the end-user segment of the market and is expected to grow at the highest CAGR during the forecast period. Non-residential sector compromises hotels, corporate offices, and education institutes. Non-residential sector is expected to contribute, significantly, during the forecast period. In many emerging economies such as China, India, Indonesia, Thailand, Brazil, and Mexico, many people are shifting from rural to urban areas. Hence, increasing population and lack of housing structures, force these governments to invest more into the construction sector. This may create an opportunity for cellular concrete market in these regions.
Scope of the Report
This study provides an overview of the global cellular concrete market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global cellular concrete market by its application, by end-user and region.
Key Players
The prominent players in the cellular concrete market include 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.), and Aircrete Europe (Netherlands).
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