Market Synopsis:
Cellular concrete is a lightweight material produced by mixing cement with other materials. It is extensively used by the construction industry leaders owing to its advantages such as fire resistance, thermal insulation, etc. According to Market Research Future (MRFR)’s study, the global cellular concrete market is expected to register 5.5% CAGR across the forecast period 2017 to 2023.
The growth of the construction industry is expected to encourage the expansion of the cellular concrete market over the next couple of years. In addition, the efforts directed towards the reduction of carbon footprints, in conjunction with the adoption of green buildings, is anticipated to boost the demand for cellular concrete in the nearby future. The rising demand for eco-friendly building materials is expected to be proven beneficial for market growth.
Increasing investments in the development of public infrastructure by the governments of developed and developing economies are expected to catapult the cellular concrete market on upward trajectory. In addition, the increasing residential projects are further poised to favor market expansion in the forthcoming years.
Competitive Dashboard:
Saint Gobain (France), Cellucrete (U.S.), Xella Group (Germany), Cematrix (Canada), Laston Italiana S.P.A (Italy), Litebuilt (Australia), CellFill, LLC (U.S.), Cellular Concrete Technologies (U.S.), ACICO (Kuwait), Aerix Industries (U.S.), B. G. Shirke Construction Technology Pvt. Ltd (India), Conco (U.S.), Broco Industries (Indonesia), JK Lakshmi Cement Ltd (India), and Aircrete Europe (Netherlands) are some of the major producers operating in the global cellular concrete market. These players are expected to contribute extensively to the development of the market over the next couple of years.
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Market Segmentation:
On the basis of application, the global cellular concrete market has been segmented into building material, concrete pipes, roof insulation, road sub-bases, bridge abutment, and others. Among these, the building material segment is currently leading the market and is anticipated to hold its leading position over the next couple of years. Factors such as low cost, minimum time requirement for building, etc. are poised to drive market growth in the foreseeable future. The road sub-bases segment, on the other hand, is expected to register the highest CAGR across the review period.
Based on end-user, the cellular concrete market has been divided into residential and non-residential. The non-residential segment is expected to dictate the growth of the global market in the nearby future. Increasing investments in the development of public infrastructure by the governments are likely to influence the growth of the segment greatly in the upcoming years.
Regional Analysis:
The geographical study of the global cellular concrete market spans across Asia Pacific (APAC), Europe, North America, and the Rest of the world (RoW). Asia Pacific cellular concrete market is expected to expand at the highest CAGR over the evaluation period. The consolidation of developing nations such as China and India are projected to have a favorable impact on the growth of the cellular concrete market. The rising government investments in these regions in the establishment of public infrastructure is projected to lead the growth of the regional market.
North America is a crucial revenue pocket which is poised to expand at a rapid pace in the coming years. Increasing residential and non-residential construction projects in the region are prognosticated to merger as the driving factors of the regional cellular concrete market.
Industry News:
In September 2019, Canada based Cematrix has announced the acquisition of Pacific International Grout Co. by the Corporation’s US subsidiary which was announced on January 2019.
In April 2019, Germany based Xella Group has announced that the plant in Teodory which was taken over the company and went extensive modernization is up for re-opening.
In March 2019, Xella Group announced the opening of a new plant in Pontenure for plaster and mortar.
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