Wilmington, Delaware, United States, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The aerated autoclaved concrete (AAC) market was worth at US$ 14.7 billion in 2021. A CAGR of 7.01% is predicted from 2022 to 2031. By 2031, the global market for aerated autoclaved concrete (AAC) will reach US$ 29.1 billion. Construction may continue to favor AAC, a material that uses less energy and raw materials than traditional concrete in its production, with an increasing focus on sustainable construction practices.
Many regions have adopted stricter building codes to improve the safety and sustainability of structures. AAC's fire and seismic resistance makes it an excellent option for places with strict building codes.
AAC technology is constantly being improved, leading to the introduction of new products with enhanced properties, which contributes to the industry's growth. Achieving specific construction goals or improving the performance characteristics of a construction system can motivate adoption.
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Key Findings of the Market Report
- Aerated autoclaved concrete blocks are expected to increase at a CAGR of 7.25% during the forecast period.
- A CAGR of 7.24% is forecast for the residential segment over the forecast period.
- The Asia Pacific market is forecasted to expand at 7.54% CAGR over the forecast period.
- Among the regions, Europe accounted for the largest share, followed by Asia Pacific.
Global Aerated Autoclaved Concrete (AAC) Market: Growth Drivers
- Thermal insulation properties make AAC ideal for energy-efficient buildings. Green building materials are becoming increasingly important in construction, so AAC is becoming increasingly popular as an energy-efficient building material. Materials made from lightweight materials offer advantages such as ease of handling, reduced transportation costs, and efficiency in construction. Both commercial and residential construction can benefit from the lightweight nature of AAC.
- With urbanization on the rise, cost-effective and efficient construction materials are in greater demand. In addition to being lightweight, AAC is a great solution for quick construction and reducing structural loads. Infrastructure development residential and commercial construction are driving the construction industry's growth. Due to its versatility and ease of use, this material has been used in various construction applications.
- Due to its energy efficiency and low maintenance costs, AAC is an attractive choice for developers and end users. Fire-resistant characteristics make AAC a preferable choice in fire-prone areas. Building designs and construction increasingly focus on fire safety, increasing the demand for AAC. AAC's advantages are becoming more widely recognized by construction professionals and architects, leading to its use in more construction projects. Several initiatives besides education programs also aid the expansion of markets.
Global Aerated Autoclaved Concrete (AAC) Market: Regional Landscape
- Asia Pacific is expected to create a market for aerated autoclaved concrete market. Sustainability is becoming more accepted in the real estate industry. Increasing government investments and construction projects in developing regions such as India and China are expected to drive the AAC market. In the 2022 to 2023 budget, the Ministry of Housing and Urban Development (MoHUA) allocated USD 9.85 billion to construct houses and bring halted projects back on track.
- Construction industry development and rapid urbanization will drive demand for AAC in the market. Expanding industries and construction projects in the Asia Pacific are driving the AAC market. As sustainable and eco-friendly construction materials become more popular in the Asia-Pacific region, AAC is becoming more popular. For its thermal insulation properties, AAC can be used in construction projects because it is energy-efficient and lightweight.
- Governments throughout the Asia Pacific are promoting sustainability practices. The use of AAC in the construction industry has been encouraged through incentives, subsidies, and green building certifications in many countries. Because of these initiatives, AAC is becoming more popular in the region.
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Global Aerated Autoclaved Concrete (AAC) Market: Key Players
Many players are competing in the rapidly growing market for aerated autoclaved concrete, and many of them are trying to remain competitive. Manufacturers of aerated autoclaved concrete (AAC) utilize a variety of strategies to achieve this, including expanding manufacturing facilities worldwide and expanding their business reach.
To lead the global market and remain competitive over time, key players also integrate vertically across the value chain, complete mergers and acquisitions, and innovate products.
- Xella Group
- H+H International
- ACICO
- AKG Gazbeton
- Brickwell
- Shandong Tongde Building Materials
- Parin Beton Company
- SOLBET
- Shirke Industries
- UltraTech Cement Ltd.
- Eastland Building Materials Co., Ltd.
- UAL Industries Ltd.
- Biltech Building Elements Ltd.
- AERCON AAC
Key Developments
- In April 2023, BigBloc Building Elements started commercial production at its 5 lakh cubic meter per annum aerated autoclaved concrete (AAC) block plant in Palghar, Maharashtra. Among the states the company serves are Gujarat, Maharashtra, Madhya Pradesh, and Rajasthan. A revenue of 200 crores is estimated to be generated from the plant, and 350-400 people will be employed there.
- In June 2023, Viglacera Corporation JSC announced that AAC and ALC panels bearing the Viglacera brand have been shipped to Australia for the first time. Viglacera’s partners, who are construction contractors and distributors, are supplying many of the major projects in Australia with AAC products.
Global Aerated Autoclaved Concrete (AAC) Market: Segmentation
By Product
- Blocks
- Wall Panel
- Floor Panel
- Roof Panel
- Cladding Panel
- Others
By End Use
- Residential
- Commercial
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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