February 01, 2021
According to the research report titled ‘Global Autoclaved Aerated Concrete (AAC) Market Size study with COVID-19 Impact, by Element (Blocks, Beams & Lintels, Cladding Panels, Roof Panels, Wall Panels, Floor Elements and Others), by End-Use Industry (Residential and Non-residential) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global autoclaved aerated concrete (AAC) market accounted for USD 17.7 billion in 2019 and is expected to expand with a CAGR of 6% through 2027.
Rising urbanization and industrialization leading to surge in infrastructural developments across the globe, and increasing demand for lightweight construction materials are the major factors fueling the growth of global autoclaved aerated concrete market. Also, rising preference for low-cost houses along with focus on green construction, and high demand for soundproof buildings are contributing to the industry growth.
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Moreover, several advantages of autoclaved aerated concrete, such as eco-friendly nature, lightweight, rigidity of construction, durability, cost-effectiveness, and speedy construction, are propelling the industry growth. Further, beneficial properties including acoustic insulation, thermal isolation, highly workable, fire resistance, water & moist resistance are positively impacting the global autoclaved aerated concrete industry outlook.
On the other hand, rising prevalence of covid-19 has caused delays and cancellation of construction projects, as well as economic instability in countries, thereby negatively impacting the worldwide autoclaved aerated concrete market forecast. Additionally, high cost of AAC and lack of awareness among individuals are other factors that may hamper the industry growth during the forecast period.
In terms of element, global autoclaved aerated concrete industry is bifurcated into floor elements, beams & lintels, roof panels, blocks, cladding panels, wall panels, and others. Based on end-use scope, the market is fragmented into non-residential, and residential.
From a regional frame of reference, worldwide autoclaved aerated concrete industry is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. Asia Pacific market captured significant revenue share in recent past and is likely to witness strong CAGR over 2020-2027, mainly due to surging population and rapid urbanization in the region.
Major players operating in global autoclaved aerated concrete market sphere include H+H International A/S, Aercon Florida LLC, Solbet Spolka Z O.O., Biltech Building Elements Ltd. (BBEL), Buildmate Projects Pvt. Ltd., AKG Gazbeton, Quinn Building Products Ltd., UAL Industries Ltd., CSR Limited, and JK Lakshmi Cement Ltd.