New York, United States, July 04, 2024 (GLOBE NEWSWIRE) -- The Global Lightweight Aggregate Concrete Market Size is to Grow from USD 4.90 Billion in 2023 to USD 8.85 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.09% during the projected period.
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Lightweight concrete with an expanding agent is the type of concrete used most frequently. In lightweight aggregate concrete, the expanding element helps increase volume by reducing the mix's overall weight. Lightweight aggregate is a form of coarse aggregate used to make lightweight concrete products such as structural concrete, concrete blocks, and pavements. The increased use of lightweight aggregate concrete in various construction projects is due to its exceptional qualities such as compressive strength, durability, fire resistance, compressibility, ease of shaping, nailing, cutting, drilling, etc. The construction market will be significantly influenced by the rising demand for this material. Anticipated growth is projected in the global lightweight aggregate concrete market in the upcoming forecast period. The rise in demand for lightweight aggregate concrete on a global scale is expected to be primarily driven by the growth in commercial and residential construction as a result of population expansion. Nonetheless, the expensive production of synthetic lightweight aggregates is a result of the high need for raw materials and energy consumption. Therefore, it is expected that the market growth will be impeded by the high cost in the forecast period. Although the advantages like weight loss, better insulation, and increased fire resistance are undeniable, some potential buyers may be hesitant due to the initial cost involved.
Browse key industry insights spread across 239 pages with 110 Market data tables and figures & charts from the report on the "Global Lightweight Aggregate Concrete Market Size, Share, and COVID-19 Impact Analysis, By Material (Natural Types and By-Products), By Application (Industrial Use, Civil Use, and Infrastructure), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The natural type segment is anticipated to hold the greatest share of the global lightweight aggregate concrete market during the projected timeframe.
Based on the material, the global lightweight aggregate concrete market is divided into natural types and by-products. Among these, the natural type segment is anticipated to hold the greatest share of the global lightweight aggregate concrete market during the projected timeframe. Pumice, scoria, volcanic cinders, and shales are commonly utilized as primary natural components in the production of lightweight aggregate concrete. Clay and slate, in addition to these components, are utilized in creating LWA to boost durability and decrease particle dimensions.
The civil use segment is anticipated to hold the greatest share of the global lightweight aggregate concrete market during the projected timeframe.
Based on the application, the global lightweight aggregate concrete market is divided into industrial use, civil use, and infrastructure. Among these, the civil use segment is anticipated to hold the greatest share of the global lightweight aggregate concrete market during the projected timeframe. This is due to the rise in construction projects and the development of infrastructure in commercial and non-commercial zones. Different governments, such as India, Australia, the U.S., and Canada, have put into place initiatives like first-time homebuyer grants, affordable housing developments, and tax breaks, to stimulate the construction industry and increase financial gains.
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North America is expected to hold the largest share of the global lightweight aggregate concrete market over the forecast period.
North America is expected to hold the largest share of the global lightweight aggregate concrete market over the forecast period. This is attributed to the quick expansion of construction projects and the rise in government funding for infrastructure improvements such as the Smart Cities Initiative. It is anticipated that these efforts will drive up product demand and in turn, enhance market revenue growth in North America. Key players such as Holcim and Lafarge will boost market expansion by incorporating technological advancements into their product line-up.
Asia Pacific is predicted to grow at the fastest pace in the global lightweight aggregate concrete market during the projected timeframe. The primary factors expected to boost product demand in the region are the rise in government infrastructure spending and growing foreign interest in the construction sector. The Indian government increased its spending on road and bridge infrastructure construction twofold. Asia Pacific economies are undergoing significant changes in the utilization of road pavement, with foreign investments and public-private partnerships (PPPs) playing crucial roles.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Lightweight Aggregate Concrete Market include Cimpor, Cemex, SCG, HEIDELBERG CEMENT, Litagg Corporation, CRH, Lafarge, Italcementi, Buzzi Unicem, U.S. Concrete, Votorantim, China Resources Cement, Holcim, Boral Limited, and others.
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Recent Developments
- In October 2021, Votorantim Cimentos, through its Spanish subsidiary Corporación Noroeste, declared the conclusion of the purchase of Cementos Balboa. Cementos Balboa operates a completely integrated cement facility in Alconera, Badajoz, with a production capability of 1.6 million tons. This purchase will aid in enhancing the company's operational efficiencies, speeding up its decarbonization strategy, and enlarging its distribution network with this facility, which is in line with its existing activities in Spain.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Lightweight Aggregate Concrete Market based on the below-mentioned segments:
Global Lightweight Aggregate Concrete Market, By Material
- Natural Type
- By-Products
Global Lightweight Aggregate Concrete Market, By Application
- Industrial use
- Civil Use
- Infrastructure
Global Virtual Warehousing Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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