global cellular concrete market size was valued at $27.2 billion in 2021, and is projected to reach $48.2 billion by 2031, growing at a CAGR of 5.7%

PORTLAND, UNITED STATES, UNITED STATES, July 12, 2023/einpresswire.com / -- According to a new report published by Allied Market Research, titled, "cellular concrete market ," The cellular concrete market size was valued at $27.2 billion in 2021, and is estimated to reach $48.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

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Market Size and Forecast

In addition, the market is analyzed among different application of cellular concrete, which includes building construction, and infrastructure. The market is mainly driven by rise in construction buildings and infrastructure. However, low compressive strength as compared to traditional concrete and fluctuating cost of materials, constraints the cellular concrete market growth.

The global population is rising at a rapid pace, along with a rapid urbanization across the world, especially in the developing nations. It is estimated that by the year 2050, there will be more than 9.5 billion people living in the world, compared to about 7.5 billion in 2021. The rising population and urbanization are playing a crucial role in driving demand for residential as well as commercial building complexes in emerging economies. For instance, according to India Brand Equity Foundation, the Indian real estate market is expected to grow from US$ 1.72 billion in 2019 to US$ 9.30 billion in 2040. Autoclaved aerated concrete, which is a type of cellular concrete is extensively used for fabricating building components such as blocks, floor panels and wall panels. Thus, the growth of real estate industry, fuels the demand for cellular concrete industry .

The cellular concrete are bifurcated based on density into high (1200kg/ cubic meter to 1800 kg/cubic meter), medium density (800kg/cubic meter-1000 kg/cubic meter) and low density (400kg/ cubic meter -600 kg/cubic meter). Among these, the low density segment accounted for the highest market share in 2021, owing to extensive use of aerated concrete in building construction. Furthermore, the aerated concrete segment under the type held the largest cellular concrete market share in 2021, owing to its suitability for various construction applications.

Regional Outlook

In 2021, Asia-Pacific dominated the global cellular concrete market, in terms of revenue. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR. This is attributable to rapid growth of construction industry in developing countries such as India and China in the past few decades.

Rise in global population and rapid urbanization propels the growth of the building construction sector; thereby, driving demand in cellular concrete market. Moreover, cellular concrete offers advantages such as heat resistance, fire resistance, thermal insulation, sound absorption and termite resistance. Such advantages significantly improve the serviceability of the building or structure constructed using cellular concrete. Thereby, positively influencing the growth of the market.

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Furthermore, on the basis of application, the infrastructure segment is anticipated to grow rapidly during the forecast period, owing to rise in number of public infrastructure projects in developing countries and large expenditure on infrastructure maintenance and repair in developed countries.

Competitive Landscape

Key manufacturers in the market offer a wide range of products to sustain the harsh competition in the market. For instance, Baurioc AS, a major manufacturer of aerated concrete products in Europe offers a wide range of blocks, U-blocks, lintels and wall elements.

However, various manufacturers in the cellular concrete market had to stop their business in countries such as China, U.S., and India, during the pandemic lockdown. This break directly impacted sales of cellular concrete manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for cellular concrete; and negatively influenced the growth of the market. After two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and there has been a rapid recovery amongst key players in the market.

Key companies profiled in the cellular concrete market forecast report include Acico, AERCON AAC, Aerix Industries, Aircrete Europe, Bauroc, Cellular Concrete Inc., Cematrix, Litebuilt, Inc., SOLBET, and Xella Group.

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Buildings are constructed using various components such as walls, roof and floor. Cellular concrete is a lightweight concrete which can be used in the form of blocks and panels for construction walls, roofs and floors. This significantly reduces the dead weight of the buildings, thereby reducing the construction cost of the project. Thus, cost efficiency offered by aerated concrete is a major factor driving the market growth. In addition, cellular concrete possesses various advantages features such as fire resistance, sound & heat insulation, and termite resistance, thereby increasing the serviceability of the building. Furthermore, construction components made of cellular concrete also boost the overall pace of construction. Such factors are fuelling the demand for cellular concrete.

David Correa
Allied Analytics LLP
+15038946022 ext.
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