May 12, 2022 17:00 ET | Source: Fior Markets Fior Markets
Newark, NJ, May 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by MarketandResearch.biz, the global lightweight aggregates market is expected to grow from USD 2039.4 million in 2021 to USD 3,246.07 million by 2030, at a CAGR of 5.3% during the forecast period 2022-2030.
Lightweight aggregate is presently being investigated as a possible substitute for normal weight concrete (NWC) since it helps to reduce the structure's dead load, resulting in less strain on the foundations and a smaller structural element volume. As a result of these considerations, the entire building cost is reduced. In addition, because the lightweight aggregate has a lower bulk density and specific gravity than regular aggregate, it has the potential to be used in lightweight aggregate creation with adequate workability. These reasons drive the market for lightweight aggregates by expanding its application in the building sector. Lightweight aggregate is a coarse aggregate used to make lightweight concrete products such as concrete blocks, structural concrete, and pavement. The lightweight aggregate used in concrete can have any form, including rounded, cubical, angular, or any other shape. Because of the fast growth of infrastructure, particularly in commercial, housing, and industrial infrastructure, the lightweight aggregate market has expanded in developing and developed countries. The developed nations are attempting to improve infrastructure to make life easier for people and support a variety of construction projects, such as developing state-of-the-art structures for tourist attractions and extending the market.
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To enhance their market position in the global lightweight aggregates market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Fly ash is a beneficial ingredient in various applications, particularly in concrete products as a lightweight aggregate (LWA). As fly ash as a lightweight component in concrete products grows, the concrete industry has begun to rely on this energy-generating by-product. Lightweight Aggregates can be made up of a variety of materials. These aggregates provide volume and toughness to concrete blocks and panels. It's also utilized to make lightweight masonry. This lightweight concrete masonry is 20% lighter than traditional sand and stone modules. It's also more convenient to set up and move. It can be used for geotechnical purposes. Lightweight aggregates minimizes settlements by decreasing loads on weak subsoils. Lightweight aggregates have a thermal resistance four times that of sand or stone and are commonly used to backfill water mains with sufficient cover and insulate other frost-prone constructions. Insulation for slabs on grade and building foundations is provided by lightweight aggregate. All of these factors are driving the lightweight aggregates industry.
The type segment includes expansive clay, expanded shale, sintered fly ash, and others. In 2021, the expansive clay segment dominated the market with the largest market share of 41.23%. Lightweight concrete (LC) with expanded clay aggregates (EA) without structural function have found success in various applications. Examples are void filler, thermal and acoustic insulation, floor tiles, concrete artifacts like vases and precast benches, non-structural blocks, and precast bridge plates. These factors have significantly contributed to the growth of the market in 2021.
The application segment includes residential building, commercial building, infrastructure, and others. In 2021, the commercial building segment accounted for the largest share of the market, with 42.65%. Commercial buildings are structures that are used for commercial purposes. Office buildings, retail space, warehouses, and other commercial structures are all examples of commercial buildings. They are an essential aspect of doing business for both those who own and those who rent commercial properties. Retailers, restaurants, and offices can all be found in a commercial structure. The increasing demand for such applications has resulted in the market's growth in 2021.
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Regional Segment Analysis of the Lightweight Aggregates Market
Among all regions, the North American region emerged as the largest market for the global lightweight aggregates market, with a market share of around 37.86% and 738.25 million of the market revenue in 2021. In nations like the United States and Canada, lightweight aggregate concrete has been used for years in construction operations such as high-rise buildings and bridges. Additionally, the market is being driven by top infrastructure development activities and technology innovation. Furthermore, major market players in the region are boosting the industry's growth.
Key players operating in the global lightweight aggregates market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Markets and Research has segmented the global lightweight aggregates market is based on the below-mentioned segments:
Global Lightweight Aggregates Market by Type:
Global Lightweight Aggregates Market by Application:
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The global lightweight aggregates market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into 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.
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