The building materials segment is projected to play a key role in the cellular concrete market; this segment is projected to grow at a higher rate in 2015.
Cellular concrete provides structure, insulation, and fire and mold-resistance. Cellular concrete products include blocks, wall panels, floor and roof panels, and lintels. It is a low-density fill material primarily used in geotechnical applications. The lightweight cellular concrete is made by mixing pre-formed stable foam and cement-based slurry. MarketsandMarkets projects that the global cellular concrete market size will grow from USD 337.6 Million in 2015 to reach USD 449.8 Million by 2020, at a CAGR of 5.9%.
The infrastructure sector is estimated to account for the largest market share in the cellular concrete market and this trend is projected to continue during the forecast period. This segment is also expected to grow at the fastest rate during the forecast period. The increase in development in the construction industry and eco- friendly building material is expected to boost the growth of the infrastructure sector in cellular concrete market. The residential building segment is forecast to be the second-largest segment in the cellular concrete market in the coming years.
Building material is projected to be the largest application in the cellular concrete market. The rising demand for lightweight building materials across the world is expected to drive the cellular concrete market. The road sub-bases segment will register the highest CAGR from 2015 to 2020, followed by building materials and concrete pipes.
Cellular concrete is replacing the traditional materials in the construction industry and it is easily available in the market, owing to their lightweight and better-quality properties. The growth in the cellular concrete market will be stimulated by expanding applications in construction components, blocks, void filling, and roof insulation. The cellular concrete market is restrained by the substitutes of the material and the material is easily replaceable.
Emerging economies are focusing on rapid industrialization over the last few decades. The European region is expected to account for the largest share in the cellular concrete market from 2015 to 2020. Asia-Pacific is projected to be the fastest-growing region for the market during the forecast period. Countries such as China and India are transforming their economies from being agriculture-based to manufacturing and other industry-based economies. Increasing urbanized population in China and India and growth in disposable income are driving the cellular concrete market in Asia-Pacific.
Related Reports:
Cellular Concrete Market by Application (Building Material, Road Sub-bases, Concrete Pipes, Void Filling, Roof Insulation, Bridge Abutment, and others), by End-user (Residential Building, Commercial Building, Infrastructure, Others) - Global Forecasts to 2020
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