Views: 2 Author: Site Editor Publish Time: 2020-07-09 Origin: Site
The global autoclaved aerated concrete market was valued at USD 5737.87 Million in 2017, is expected to reach USD 9808.91 Million by 2024, growing at a CAGR of 8.0% from 2018 to 2024. The key factors driving the growth of the autoclaved aerated concrete market include increased emphasis on green and sound proof buildings, light weight of material and cost-effective building solution, and reduced additional material use with minimized waste and pollution.
AAC blocks segment was holding the largest share on the basis of type of the autoclaved aerated concrete market, in 2017. Demand for AAC panels type is anticipated to grow significantly in the coming years and is expected to register the highest CAGR, during the forecast period. The AAC panels provides fast, flexible, and cost-effective building solutions, meeting the requirements of residential, commercial and industrial sectors are the factors expected to boost the growth of global autoclaved aerated concrete market. Construction material an application of autoclaved aerated concrete was holding the largest share in terms of both value and volume, in 2017 and is forecasted to dominate the autoclaved aerated market, throughout the forecast period. The properties of AAC provide an edge over traditional clay bricks and are widely promoted and developed by many countries, has become material of choice as construction material.
Asia-Pacific was holding the largest market share of autoclaved aerated concrete market, in 2017 and is anticipated to dominate the market, throughout the forecast period. Further, Asia-Pacific’s autoclaved aerated concrete market is anticipated to grow at a significant rate and register the highest CAGR, during the forecast period. Increasing disposable incomes, increased affordability of innovative, green projects, and rising environment-related awareness are the factors contributing towards the growth of Asia-Pacific’s autoclaved aerated concrete market. Emerging economies such as China and India are consuming a high volume of AAC products, majorly attributed to the growing population and rapid rate of urbanization is leading to an increase in the number of building construction projects. Europe was the second largest market for autoclaved aerated concrete, in 2017 and is anticipated to maintain its position throughout the forecast period. The European autoclaved aerated concrete market is expected to witness moderate growth over the forecast period. The major factor driving the growth of AAC market in this region is the growing demand for light weight and green building construction.
Some of the leading players in global autoclaved aerated concrete market include Xella Group, Aircrete Europe, Eastland Building Materials Co. Ltd., Laston Italiana S.P.A, UltraTech Cement Ltd., among others.