Ferrocement Market: Predicted Rapid Growth with Trends, Competition, and Opportunity Analysis

MANHATTAN, N.Y. - March 10, 2023 - PRLog -- As per the TechSci Research report titled "Global Ferrocement Market- By Region, Competition Forecast & Opportunities, 2027", the demand for ferrocement from various industries is expected to drive robust growth in the global ferrocement market, with a projected CAGR from 2023-2027. Ferrocement is particularly suitable for constructing precast structures like beams and panels as it is easy to transport. Additionally, the construction process is not overly technical, and it requires less skilled labor. Due to the lightweight nature of ferrocement structures, it is an ideal choice for construction across industries such as agriculture, marine, water supply, rural energy, and sanitation, offering savings of up to 15% in steel usage and a 10% reduction in roof cost.

In the rural energy sector, ferrocement is widely employed in building biogas holders, panels for solar energy collectors, biogas digesters, and incinerators, to meet the increasing demand for energy, particularly in rural areas. Moreover, the cost-effectiveness of ferrocement has prompted several developing nations to utilize it for enhancing their infrastructure. Ferrocement is also resistant to water and impact, making it an excellent choice for constructing marine structures like docks, boats, water tanks, barrages, floating buoys, and fishing vessels. The construction process of ferrocement structures is relatively simple, requiring readily available materials and minimum skilled labor, which further reduces manufacturing and labor costs.

The global ferrocement market is categorized based on the application, manufacturing process, regional distribution, and competitive landscape. The application segment is divided into housing, marine, agriculture, rural energy, water supply & sanitation, and others. The housing segment is expected to dominate the market due to the rapid development of residential and commercial infrastructure. Moreover, governments of several developing nations aim to build low-cost housing, particularly for people residing in rural areas. However, the rural energy segment is anticipated to grow at the fastest rate over the next five years, owing to the increasing demand for energy. Ferrocement is widely used in the manufacturing of biogas digesters and solar energy collector panels. The manufacturing process is bifurcated into hand plastering, semi-mechanized, guniting, and centrifuging. The hand plastering segment is expected to hold the largest share in the global ferrocement market as it offers a simple construction process that doesn't require highly skilled labor, which ultimately reduces costs. Additionally, it provides a uniform and smooth base with an improved appearance.

Major market players operating in Global ferrocement market are:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

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