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The Ferrocement Market grew from USD 2.77 billion in 2023 to USD 2.92 billion in 2024. It is expected to continue growing at a CAGR of 5.68%, reaching USD 4.08 billion by 2030.
The global ferrocement market is anticipated to flourish with an impressive CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing demand for lightweight construction materials in offshore construction. Structures made from ferrocement are comparatively less thick; therefore, they have less self-weight and facilitate rapid and easy installation at offshore construction sites. Apart from this, the increasing investments and expenditure on the development of infrastructure of both residential and commercial sectors, primarily due to increasing population, rising per capita income of individuals, and strong economic growth in both developed and developing countries, is further adding to the demand for ferrocement in the construction industry across the globe.
Ferrocement refers to a construction material made up of thin cement slabs reinforced with light wire steel mesh. A large number of small diameter wire meshes are uniformly spread in a cross-sectional form to make the concrete material strong. It is utilized to build relatively thin, strong, and hard structures of numerous shapes and sizes, such as water tanks, shell roofs, boats, etc. Ferrocement offers excellent mechanical characteristics at relatively lower prices and has better durability as compared to ordinary found at reinforced concrete. Additionally, ferrocement is resistant to shrinkage and has the capacity to undergo large deformations before high deflection or cracking. As a result, it is utilized in several applications such as Housing, Marine, Agriculture, Rural Energy, Water Supply & Sanitation, etc.
Moreover, ferrocement is considered an ideal material to repair and strengthen old and deteriorated buildings and other structures as it facilitates uniform distribution and a high surface-area-to-volume ratio of the wire mesh. As a result, it has high resistance to cracking and is highly preferred for repairing and renovation work in numerous industries. Apart from this, with the flourishing agriculture industry across the globe, the application of ferrocement in manufacturing agricultural tools such as grain storage tanks, water tanks, pipes, irrigation, drainage channels, silos, and underground pits are also bolstering. As a result, the global ferrocement market is expected to witness robust growth over the coming years.
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Market Segmentation
The global ferrocement market is segmented by application, by manufacturing process, competitional landscape, and regional distribution. Based on application the market is differentiated between housing, marine, agriculture, rural energy, water supply & sanitation, and others. By manufacturing process, the market is bifurcated into hand plastering, semi-mechanized, guniting, and centrifuging. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia Pacific, Middle East and Africa, South America.
Company Profile
Constro-tech Innovative Components, Star Ferro, Milinkovic Company, NBM&CW, and am-cor inc are some of the major market leaders
Report Scope
In this report, Global ferrocement market has been segmented into following categories, in addition to the industry trends which have also been detailed below
Global Ferrocement Market, By Application
Housing
Marine
Agriculture
rural energy
water supply & sanitation
Others
Global Ferrocement Market, By Manufacturing Process
Hand plastering
Semi mechanized
Guniting
Centrifuging
Global Ferrocement Market, By Region
North America
Europe
Asia Pacific
Middle east and Africa
South America.
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Attribute |
Details |
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Base Year |
2024-2032 |
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Historical Data |
2024-2032 – 2024-2032 |
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Estimated Year |
2022 |
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Forecast Period |
2023 – 2027 |
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Quantitative Units |
Revenue in USD Million, volume in units, and CAGR for 2024-2032-2024-2032 and 2022-2027 |
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Report coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
· By application · By manufacturing process · By region |
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Regional scope |
North America, Europe, Asia Pacific, Middle east and Africa, South America. |
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Key companies profiled |
Constro-tech Innovative Components, Star Ferro, Milinkovic Company, NBM&CW, Am-Cor Inc. |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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