Cellular Concrete Market Size

Cellular Concrete Market size

Cellular Concrete Market size exceeded USD 2 billion in 2020 and will showcase a growth rate of around 5.4% CAGR from 2021 to 2027. Growing usage of these materials in road construction, void filling, and other applications is likely to boost the industry growth. The continuous R&D investments and rising usage in non-load bearing residential substructures will further support the demand for cellular concrete.

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Growing road & bridges construction activities across the globe along with the increasing demand for green construction materials in the residential sector is expected to drive the market growth. The high investments in construction and infrastructure projects by several economies, such as the U.S., India, China, Germany, the UK, and others, are anticipated to offer new opportunities for industry expansion. For instance, the fiscal 2022 budget of the U.S. proposed USD 57.5 billion highway obligation ceiling. Additionally, the freight and highway projects in the U.S. will receive USD 1 billion funds in fiscal year 2022.

The ongoing COVID-19 pandemic has shown severe adverse impacts on the global economies and several industries. Some of the major geographical markets, such as the U.S., Brazil, and several European economies, have been hit the hardest by the pandemic. Countrywide lockdowns in several regions in the first half of FY2021 coupled with delays in several infrastructure development projects and slowdown in the construction industry have drastically declined the demand for foam concrete. Moreover, strict restrictions on the transportation of non-essential goods had impacted every stage of the cellular concrete market supply chain.