Global Ferrocement Market, By Application, By Manufacturing Proces, By Region, Competition Forecast
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, 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 available 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.
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.
Constro-tech Innovative Components, Star Ferro, Milinkovic Company, NBM&CW, and am-cor inc are some of the major market leaders of the Global ferrocement market.
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