Lightweight Precast Wall Panel Market to Expand at a CAGR of 7% By 2030 – Report by Market Research Future (MRFR)
Lightweight Precast Wall Panel Market Research Report Information by Type (EPS Beads, Ceramic Beads, Foam Concrete), By Application (Commercial Building, Industrial Building, Residential Building, Government & Schools, Others) And by Region (North America, Europe, Asia-Pacific, Middle east and Africa, and South America) – Forecast Till 2030
New York (US), May 04, 2023 (GLOBE NEWSWIRE) — Lightweight Precast Wall Panels Market Overview
The MRFR study reports imply that the “Lightweight Precast Wall Panels Market Research Report Information by Type, Region, and Application – Forecast Till 2030”, the global Lightweight Precast Wall Panels market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 7%. The reports further predict the market will acquire nearly USD 82.73 billion by the end of 2030. As per the documents, the Lightweight Precast Wall Panels market was valued at nearly USD 48.15 billion in 2022.
Market Scope:
The global Lightweight Precast Wall Panels industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating demand for affordable housing across the globe. In several emerging nations, there is a shortage of affordable housing. Conventional construction methods are often time-consuming and expensive, which is also considered one of the crucial parameters supporting the expansion of the market worldwide.
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Competitive Analysis
The listing of the prominent leaders across the global market for Lightweight Precast Wall Panels includes players such as:
- Dukane Precast
- Xella Group
- Elematic
- CSR Limited
- RASTRA
- Clear Corporation
- K Block Technology
- Cemex
- Betoniluoma
- Bpi
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 82.73 Billion |
| CAGR | 7% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Growing Demand From Affordable Housing To Fuel Market Demand Growing Demand From Energy Efficiency Of Their Buildings. |
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Market USP Covered
Market Drivers
The global Lightweight Precast Wall Panels industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating demand for affordable housing across the globe. In several emerging nations, there is a shortage of affordable housing. Conventional construction methods are often time-consuming and expensive, which is also considered one of the crucial parameters supporting the expansion of the market worldwide. Lightweight precast wall panels are desirable for affordable housing projects since they can be generated quickly and cost-effectively.
Market Restraints
On the contrary, some parameters may restrict the market’s development. The main parameter limiting the market’s development is the high initial costs.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Lightweight Precast Wall Panels market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis
Among all the types, the
Lightweight Precast Wall Panel Type Insights EPS Beads segment secured the top spot across the global market for lightweight precast wall panels in 2022, with the largest share of around 44.7%. Lightweight concrete wall panels are an innovative construction material providing a range of advantages such as ease of installation, sound insulation, and energy efficiency. The factors such as environmentally friendly building materials, an affordable alternative to traditional construction materials, and the increasing demand for energy-efficient are causing a rise in the segment’s performance.
Among all the applications, the Residential Building segment is anticipated to lead the global market over the coming years, given the growing construction industry and increasing demand for sustainable & eco-friendly building materials.
Regional Analysis
The global Lightweight Precast Wall Panels market is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global Lightweight Precast Wall Panels industry in 2022, with the largest contribution of around 35. 4% having a worth of nearly USD 15931 million. The reports further anticipate the market to thrive considerably during the assessment period at a healthy growth rate of around 2%. The region has leading growth contributors such as Australia, South Korea, India, Japan, China, and the Rest of Asia-Pacific. Out of which, China has secured the top spot across the regional market.
The North American regional market for Lightweight Precast Wall Panels is anticipated to record significant development over the assessment period given mainly to their properties, such as easy maintenance, rigidity, and durability. Furthermore, these panels are highly produced and consumed in the United States. Given the COVID-19 pandemic’s development, which led to a fall in production and consumption activities, the ascending growth trajectory of the U.S. market was considerably impacted in 2020. On the other hand, during this time, regional players became the targets of international players’ acquisition activities, which substantially expanded. The region has the U.S. as the leading growth contributor.
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The European regional Lightweight Precast Wall Panels Market is anticipated to showcase a substantial development of 2.4% during the assessment timeframe, given mainly to supply chain disruptions, decreased construction, travel limitations, and large-scale manufacturing. Furthermore, the factors such as a rise in the construction of houses, easing of restrictions, and other types of buildings have been seen in the countries since the pandemic. The region has Germany as the leading growth contributor.
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