The global autoclaved aerated concrete (AAC) market is estimated to garner a hefty amount of revenue by recording a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the robust growth of the infrastructure sector in the recent years, rising industrialization and urbanization, and increasing demand for lightweight construction materials around the world. According to the World Bank, in 2018, 55.272 percent of total population lived in urban areas, which reached up to 56.15 percent in the year 2020. The urban population of the world has only increased since 1960. Along with these, rapid increase in population is also giving rise to the high demand for affordable housing in metropolitan cities, which is another factor projected to boost market growth in the region. Furthermore, growing emphasis of governmental and non-governmental agencies in developing nations on soundproof and green buildings is expected to offer ample opportunities for market growth in the near future.
The market is segmented by type into block, panel, tile, lintel, and others, out of which, the block segment is anticipated to witness the highest growth in the global autoclaved aerated concrete market on account of the rise in demand for AAC blocks in several non-residential and residential industries, and ease of installation of this product. Additionally, on the basis of end user, the residential segment is predicted to gather the largest share over the forecast period, which can be credited to the growing demand for environment-friendly building materials, and increasing number of living and working spaces in urban areas. Since 2017, the total number of green homes have increased by almost 20 percent. It is evaluated that the global green building industry alone is capable of reducing the energy consumption by more than 50 percent by 2050. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global autoclaved aerated concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to witness noteworthy growth over the forecast period on the back of increasing number of construction activities in the commercial and medical sectors, and growing establishment of green buildings in the region. In 2018, construction activities worth more than USD 42.5 billion were put in place in the healthcare sector in the United States. The value rose up to USD 43.6 in 2019. Moreover, the market in Asia Pacific is assessed to occupy the largest share during the forecast period, which can be ascribed to the rising demand for AAC from the construction sector of countries, namely China, India and South Korea, and rapid rate of industrialization in the region. In addition, easy availability of raw materials and presence of cheap labor are also projected to boost the market growth in APAC in the coming years.
The global autoclaved aerated concrete market is further classified on the basis of region as follows:
Our in-depth analysis of the global autoclaved aerated concrete market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising demand for lightweight construction materials and rapid industrialization and urbanization around the world are the major growth drivers for the market.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.
Higher production cost of AAC than ordinary concrete and less tensile strength of AAC are estimated to hamper the market growth.
North America is estimated to provide more business opportunities to the market growth owing to the increasing number of construction activities in the commercial and medical sectors in the region.
The major players in the market are ACICO Industries Co. KSCP, Masa GmbH, Xella International GmbH, Isoltech srl, Aircrete Europe B.V., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end user, and by region.
The block segment is anticipated to hold the largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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