Rise in awareness about using power saving materials in infrastructure and increase in demand for aesthetic appeal in the same drive the growth of the global translucent concrete market
PORTLAND, Oregon, May 25, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Translucent Concrete Market by Application (Walls, Roofing, and Flooring) and End User (Residential and Non-residential): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global translucent concrete industry was estimated at $2,469.7 thousand in 2019, and is expected to hit $21,022.8 thousand by 2027, registering a CAGR of 39.9% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in awareness about using power saving materials in infrastructure and increase in demand for aesthetic appeal in the same drive the growth of the global translucent concrete market. On the other hand, high costs associated with translucent concrete manufacturing impede the growth to some extent. However, surge in focus on using energy efficient materials in construction is expected to create multiple opportunities in the industry.
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The walls segment to dominate by 2027-
Based on application, the walls segment contributed to more than four-fifths of the global translucent concrete market revenue in 2019, and is expected to retain its dominance by the end of 2027. The roofing segment, on the other hand, is projected to manifest the fastest CAGR of 58.8% from 2022 to 2027, owing to its inventive and artistic look.
The non-residential segment to lead the trail-
Based on end-user, the non-residential segment accounted for nearly three-fourths of the global translucent concrete market share in 2019, and is anticipated to rule the roost till 2027, owing to the growing inclination toward aesthetically pleasing set-up. At the same time, the residential segment would portray the fastest CAGR of 40.3% by 2027. This is due to rise in construction of walls of public infrastructure using translucent concrete
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Europe garnered the highest share in 2019, North America to grow at the fastest CAGR by 2027-
Based on region, Europe generated the major share in 2019, holding nearly three-fourths of the global translucent concrete market. Rise in awareness about energy conservation boosts the market growth in the region. Simultaneously, North America would portray the fastest CAGR of 51.3% from 2021 to 2027. Increase in the drift toward building aesthetically pleasing infrastructure drives the growth in this region.
Frontrunners in the industry-
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