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.
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.
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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.
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.
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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Key Findings of the Study
The report provides an extensive analysis of the current and emerging cellular concrete market trends and dynamics.
By density, the low density segment dominated the cellular concrete market, in terms of revenue in 2021 and bollards is projected to grow at a significant CAGR during the forecast period.
By type, the aerated segment registered higher revenue in 2021.
By application, the infrastructure segment is anticipated to grow at a higher CAGR during the forecast period.
LAMEA is projected to register highest growth rate in the coming years.
The key players within the cellular concrete are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the cellular concrete industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth cellular concrete market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
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