Global Ferrocement Market to Register Impressive Growth Through 2027
The rising application of ferrocement in the manufacturing of
rural energy equipment is expected to significantly drive the Global
ferrocement market over the forecast period, 2023-2027.
According to TechSci Research report, “Global Ferrocement Market- By Region,
Competition Forecast & Opportunities, 2027”, The global
ferrocement market is anticipated to record robust growth in the CAGR during
the projected period, 2023-2027, owing to its increasing demand from numerous
industries. Ferrocement is easy to transport as it is highly suitable to build
precast structures such as precast beams and panels. Moreover, its construction
method is not very technical, which is why it does not require a large number
of highly skilled labor. In addition to this, as structures made from
ferrocement are less in weight, uses offers 15% save in steel, and reduce the
roof cost by 10%, as a result, it is increasingly being employed in the
construction of several structures across industries like marine, agriculture,
rural energy, agriculture, water supply, and sanitation, etc. In the rural
energy sector, ferrocement is intensively being utilized for building biogas
holders, incinerators, panels of solar energy collectors, and biogas digesters.
The surging need for generating energy, particularly in the rural sector, is
adding to the growth of the global ferrocement market. Furthermore, as
ferrocement is economically viable, the government of several developing
nations is taking initiatives to enhance the country’s infrastructure,
particularly in the districts and towns. With this aim of building low-cost,
durable, and strong infrastructures, the demand for ferrocement is
proliferating.
Moreover, the growing employment of ferrocement in the marine
sector is further augmenting the global ferrocement market. Among the other
properties of ferrocement, it is highly resistant to water and impact as well.
Due to these properties of ferrocement, it is widely being utilized to build
marine structures like boats, fishing vessels, docks, barrages, water tanks,
floating buoys, etc. Apart from this, as ferrocement’s construction process is
not very complex so it can be constructed with minimum skilled labor and
readily available materials. Therefore, it reduces the manufacturing and labor
costs as well.
Browse over XX market data Figures spread through 70 Pages
and an in-depth TOC on the
"Global
Ferrocement Market"
The global ferrocement market
is segmented on the basis of application, manufacturing process, regional
distribution, and competitive landscape. Based on the application, the market
is divided into housing, marine, agriculture, rural energy, water supply &
sanitation, and others. Among these, the housing segment is expected to
dominate the market due to the rapid developments in the infrastructure of
residential and commercial buildings. Along with this, the governments of
several developing nations are looking forward to building low-cost housing,
especially for the people living in rural areas. However, with the surging need
for energy, the rural energy segment can be the fastest-growing segment in the
upcoming five years as ferrocement is widely being deployed in the
manufacturing of biogas digesters and panels for solar energy collectors. Based
on the manufacturing process, the market is bifurcated into hand plastering,
semi-mechanized, guniting, and centrifuging. The hand plastering segment is
expected to dominate the global ferrocement market as its construction process
is simple and doesn’t require much-skilled labor, which in turn helps in saving
the cost. Along with this, it also provides a uniform and smooth base with an
improved appearance. The market analysis also studies the regional segmentation
to devise regional market segmentation, divided among North America, Europe,
Asia Pacific, the Middle East and Africa, and South America.
Major market players
operating in Global ferrocement market are:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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“The construction sector has gained significant
momentum in the recent years, especially among the developing nations. This,
along with the surging need to upgrade old infrastructures, is providing
lucrative opportunities to the market players. As end-users are becoming more
aware about the economic viability of ferrocement and its wide range of
advantages over traditional concrete materials is providing a positive outlook
to the market. Furthermore, the fast-growing advancement in concrete materials
and it manufacturing technology is expected to provide a robust growth to the
global ferrocement market. New market players are suggested to invest in the
research and development of ferrocement technology to meet the evolving
consumer need’’ said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Global Ferrocement Market By
Application (Housing, Marine, Agriculture, Rural Energy, Water Supply &
Sanitation, Others), By Manufacturing Process (Hand Plastering, Semi
Mechanized, Guniting, Centrifuging), By Region, Competition Forecast &
Opportunities, 2027”, has evaluated the future
growth potential of Global ferrocement market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global ferrocement market.
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