Monday, 13 March 2023 12:33 PM
Company Update
WILMINGTON, DE / ACCESSWIRE / March 13, 2023 / Transparency Market Research Inc. - The global aerated autoclaved concrete market is likely to register a CAGR of 7.01% between 2022 and 2031. Aerated autoclaved concrete is a recently adopted precast building material that is lightweight, offers fire resistance, and provides great insulation. It also possesses the quality of eco-friendliness in its building materials, giving it all the more reason to gain popularity in the last couple of years. Aerated autoclaved concrete is produced by the waste generated from thermal power plants called flying ash, which is abundantly available.
Lightweight and fire-insulation properties of AAC are projected to help increase its popularity in the future market, thereby propelling market development. Besides this, aerated autoclaved concrete is also preferred for seismic resistance and ability to absorb sound, and these properties are expected to help this market attain high market value during the forecast period.
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According to TMR report, the global aerated autoclaved concrete market value stood at US$ 14.7 Bn in 2021 and is anticipated to reach US$ 29.1 Bn by the end of 2031. The rise in demand for energy-efficient construction solutions is estimated to serve as the key driver boosting market growth.
Key Findings of Study
- Rise in Demand for Energy-efficient Building Solutions: AAC is currently highly preferred for building and construction activities as the material has proven to be extremely sustainable, lightweight, and porous in nature. When compared to generally used concrete, aerated autoclaved concrete is five times lighter and offers a unique combination of durability and strength despite its lightweight nature. The rise in global adoption of sustainable solutions for building and construction activities is expected to help create significant business opportunities during the forecast period.
- Rapid Pace of Industrialization and Urbanization: Major shift from agriculture-based economy to industry-based economy is likely to augment the demand for commercial and industrial construction activities worldwide. This is further anticipated to promote the growth of the aerated autoclaved concrete market during the forecast period.
Key Drivers
- Rise in demand for energy-efficient building materials to replace traditional concrete is projected to aid in expansion of the aerated autoclaved concrete market
- Environment-friendly and cost-efficient characteristics of AAC are anticipated to increase its use in the future
- Government initiatives to promote affordable housing solutions and sustainable infrastructure are likely to promote business in the next few years
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Regional Growth Dynamics
- Asia Pacific held 48% of market share in 2021 and emerged dominant. It is further expected to continue to dominate during the forecast period owing to the rise in residential construction activities and high revenue generation from India, China, and Japan.
- Rise in per capita income of people in emerging economies in Asia Pacific, coupled with the increase in construction activities for residential and industrial sectors, is estimated to help this region attract significant revenues in the next few years
Key Players
Prominent players in the global aerated autoclaved concrete market include AERCON AAC, Biltech Building Elements Ltd., UAL Industries Ltd., Eastland Building Materials Co. Ltd., Ultratech Cement Ltd., Shirke Industries, SOLBET, Parin Beton Company, Shandong Tongde Building Materials, Brickwell, AKG Gazbeton, ACICO, H+H International, and Xella Group.
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AAC Market Segmentation
Product
- Blocks
- Wall Panel
- Floor Panel
- Roof Panel
- Cladding Panel
- Others
End-use
- Residential
- Commercial
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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