The global autoclaved aerated concrete (AAC) market size was estimated at US$ 19 billion in 2020 and forecasts to reach US$ 38 billion by 2030. The market forecasts to grow at a compound annual growth rate (CAGR) of more than 7.1% during the forecast period from 2021-2030.
Autoclaved aerated concrete (AAC), also known as autoclaved cellular concrete (ACC) or autoclaved lightweight concrete, is an environmentally acceptable green building material (ALC). Fly ash, a waste product from thermal power plants, is utilized as the basic ingredient for AAC. AAC provides several advantages over other building materials. The product has a one-of-a-kind mix of low weight, construction stiffness, reliability, and economic efficiency. AAC facilitates quick building. Thermal and acoustic insulation is included in the product, which improves safety and lowers heating and cooling energy expenses.
Factors Influencing
The growing trend of green buildings, cost-effective and lightweight material properties are propelling this market forward. Moreover, people are focusing more on materials that can prevent earthquakes or natural disasters. Thus, the adoption of ACC products over traditional clay bricks forecasts growth during the analysis period.
Global population growth necessitates infrastructural expansion. The construction activities for private residences, institutions, and other infrastructures are expected to surge during the forecast period. Thus, the rise of the global construction sector would boost the demand for a variety of raw materials, including aerated autoclaved cement (AAC). Moreover, rapid urbanization and industrialization are primarily responsible for this evolution in emerging economies such as China, Mexico, India, and Brazil. With expanding regional government initiatives and the expansion of the real-estate sector, demand for AAC is likely to rise in the coming decade.
COVID-19 Impact Analysis
The COVID-19 pandemic negatively affected the entire construction industry. As a result, it declined the demand for AAC and other building-related raw materials. As the construction activities resume, the global market for AAC will grow efficiently.
Regional Analysis
The Asia Pacific region is expected to lead in the global autoclaved aerated concrete (AAC) market during the forecast period. Growing local real estate construction industry in China and other countries is forecast to present a significant contribution. Moreover, authorities of various countries are investing highly in large-scale infrastructure building projects. In addition, rapid urbanization and rising population in the region would surge the demand for AAC material in the region.
Market Segmentation
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Competitors in the market
