Dallas, March 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global lightweight aggregate concrete market is expected to grow from USD 32.95 billion in 2020 to USD 61.63 billion by 2028, at a CAGR of 7.9% during the forecast period 2021-2028.
The global lightweight aggregate concrete market is growing at a rapid pace from the past few years, due to its various advantages and properties. The lightweight aggregate concrete, walls, structural lightweight concrete slabs, and beams are considered to have more significant fire-endurance periods than other types of concrete. Construction companies are preferring to use it in order to provide a better quality of work and safety. Its main benefit is that it is eco-friendly and can be reused as many times. It is also earthquake resistant, insect-proof, sound insulation, and heat insulation.
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Lightweight aggregate is the construction material that has a bulk density lower than common construction aggregates. It is used in the production of lightweight concrete products such as structural concrete, concrete block, and pavement. Lightweight aggregate is the construction material that has a bulk density lower than that of common construction aggregates. It is used in the production of lightweight concrete products such as structural concrete, concrete block, and pavement.
The lightweight aggregate concrete market is witnessing the significant growth, owing to increasing construction activities across the globe. Due to its various advantages and properties, the demand for lightweight aggregate concrete has been growing immensely. The growing demand for the residential and commercial buildings, due to rising population is one of the vital factors for the growth. In addition to this, various government initiative for smart city development and infrastructure development, further driving the construction activities across the globe. However, brittleness and slow mixing time could hamper the market growth of lightweight aggregate concrete over the forecast period.
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Major players in the global lightweight aggregate concrete market are Cimentos de Portugal, SGPS, S.A. (CIMPOR), Cemex, LafargeHolcim Ltd, CRH plc, Italcementi, China Resources Cement, Votorantim, U.S. Concrete, Inc., Buzzi Unicem, HeidelbergCement Group, SCG, Litagg Corporation, and Lafargeamong others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global lightweight aggregate concrete industry.
• In July 2018, Cemex announced the launch of a new range of lightweight foamed concretes with a variety of densities of as little as 300kg/m3. This range is designed explicitly for void fill, stabilization and other lightweight applications.
• In April 2016, HeidelbergCement announced the integration plan for Italcementi to preserving Italcementi's long-standing industrial tradition and history while streamlining some functions and activities.
The natural materials segment led the lightweight aggregate concrete market with the highest market share and valued at USD 24.71 billion in the year 2020
The type segment is divided into natural materials and by-products. The natural materials segment led the lightweight aggregate concrete market with the highest market share and valued at USD 24.71 billion in the year 2020. This is mainly because of the low cost of production and wide availability of natural material for the production of lightweight aggregate concrete. Natural materials such as pumice, scoria volcanic ciders, and shales are commonly used for the production of lightweight aggregate concrete.
Structural concrete is likely to rise at the highest CAGR of 8.6% over the forecast period
The air-dry unit weight segment includes low-density concrete, moderate strength concrete, and structural concrete. Structural concrete is likely to rise at the highest CAGR of 8.6% over the forecast period. The lightweight structural concrete is known for reducing the overall dead weight on the concrete structure, which allows the designers to reduce the size of the column, footings, and other load-bearing materials. With its advance benefits, it is used in the construction of bridges and beams, columns, and other elements in the steel and concrete buildings.
Civil construction segment is accounted for the major market share of 48.65% in the year 2020
The application segment includes civil construction, infrastructure construction, and industrial construction. Civil construction segment is accounted for the major market share of 48.65% in the year 2020, owing to increasing usage of lightweight aggregate concrete for residential and commercial building constructions. In addition to this, rising infrastructural activities across the globe, positively impacting the growth of the market.
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Regional Segment Analysis of the Lightweight Aggregate Concrete Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region emerged as the largest market for the lightweight aggregate concrete market and valued at USD 14.00 billion in the year 2020. This is because North America has been using the lightweight aggregate concrete from the years for construction activities such as high-rise buildings and bridges in the countries such as the U.S. and Canada. In addition to this, top infrastructure development activities and technological advancement in the region, driving the growth of the market. Furthermore, the presence of key market players in the region is positively impacting the growth of the North America market. On the other hand, the Asia Pacific region is projected to register the highest growth during the forecast period. The growth is mainly due to rising construction activities in emerging countries such as India and China. Japan has been using lightweight aggregate concrete material from the last 30 years for construction of buildings. Furthermore, rising urbanization, as well as industrialization in the region, propelling the growth of the market over the forecast period.
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About the report:
The global lightweight aggregate concrete market is analyzed on the basis of value (USD billion), volume (kilotons), export (kilotons), and import (kilotons). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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