|Forecast Period :||2018-2026|
|Base Year :||2018|
|Leading Market Segments :||Residential Segment|
|Value in 2018 :||$3840.64 Million|
|Research covered :||100+ Countries|
Global Statistics Representing Autoclaved Aerated Concrete Market Scenario
Autoclaved cellular concrete is a versatile lightweight construction material as it contains lots of closed air pockets and usually used as blocks. It is a precast concrete, made with fine aggregates, cement, and an expanding agent that is responsible for making the mixture like bread dough. Advantages of AAC includes, thermal insulation & structural capability, design & construction flexibility, increased durability & dimensional stability, excellent fire resistance, high sound reduction, and others. AAC offers thermal and acoustic insulation, providing better safety and lower energy cost of heating or cooling. As AAC can easily cut into any required shape, it is possible virtually to construct an entire house with AAC, including walls, floors, using reinforced aircrete beams, ceilings, and the roof.
Swiftly growing building and construction sector owing to government initiative promoting construction majorly drives growth of global autoclaved aerated concrete market. For instance, initiative by Government of India, National Housing Bank (NHB) announced setting up of Affordable Housing Fund for middle class population at low-cost.
Additionally, enhanced features of AAC such as energy efficiency, acoustic properties, durability, and simultaneously provides structure, insulation, and fire- and mold-resistance. This makes them ideal choice of material for contractors and developers. Furthermore, advantages over traditional material, low logistic, and strict government regulation towards construction have boost the growth of market. Increasing spending on construction, and financial benefits offered by AAC is expected to fuel the growth of market.
Global autoclaved aerated concrete market was valued at USD 3,840.64 million in 2018 and is expected to reach USD 6,658.37 million by 2026 at a CAGR of 7.12 % during the forecast period, 2019–2026.
Global autoclaved aerated concrete market is segmented by product type, end-use and region.
On the basis of product type, autoclaved aerated concrete market is segmented into blocks, panels and others.
On the basis of end-use, market is categorized into residential, industrial, commercial and others. The residential segment is expected to witness a significant growth owing to urbanization and associated need for economical housings are projected to contribute towards the growth of residential sector during forecast period 2019-2026. According to India Brand Equity Foundation (IBEF), urban population is projected to increase to approx. 600 million from 434 million in 2015. Thus, residential segment is expected to increase by seven times of current scenario, thereby expanding avenues of opportunities for market.
Geographically, global autoclaved aerated concrete market is segmented into North America, Asia Pacific, Europe, Latin America, the Middle East & Africa.
Autoclaved aerated concrete market in Asia Pacific is estimated to witness expeditious growth of autoclaved aerated concrete market during the forecast period owing to rapid urbanization particularly in emerging economy, such as China and India. According to India Brand Equity Foundation (IBEF), cement production capacity was approx. 502 million tonnes in 2018. Robust growth of industrial as well as commercial businesses and technological advancement in building and construction sector with growing demand for green building and cost-effective material is further projected to drive the autoclaved aerated concrete market growth in Asia Pacific. Additionally, according to Department of Industrial Policy and Promotion (DIPP), cement products attracted Foreign Direct Investments (FDI) of approx. 5.26 billion between years 2000-2018. Thus, fueling the market.
North America autoclaved aerated concrete market is estimated to expand at steady pace during the forecast period. Factors attributed to the steady growth of market include, limited number of manufacturing facilities, and high preference for wood-based construction across the region. Moreover, establishment of state councils in several regions by World Green Building Council (WGBC) and auxiliary activities by administration to encourage green building construction are estimated to propel AAC market in North America and Latin America.
The market in Europe is expected to witness a potential growth in global autoclaved aerated concrete market owing to presence of local AAC manufacturing plants across Europe, with countries including U.K., Germany, Poland, and Russia. Huge demand from commercial sector and various business incentives offered by legislative bodies has led the market grow in Europe during the forecast period.
However, the Middle East and Latin America are projected to have a steady growth owing to need for better infrastructural and commercial development activities.
Some of the major players of autoclaved aerated concrete market include Biltech Building Elements Limited (India), Xella Group (Germany), Bauroc International AS (Estonia), AERCON AAC (USA), H+H International (Denmark), Eastland Building Materials Co (China)., Bulidmate (India), UltraTech Cement Ltd. (India), BIGBLOC Construction (India), Brickwell (India) and Hil Ltd (India).
Global Autoclaved Aerated Concrete Market Segmentation