The global autoclaved aerated concrete market is predicted to attain a revenue of $8,314.9 million by 2030, rising from $4,498.5 million in 2019, exhibiting a 6% CAGR during 2020–2030, as per a report by P&S Intelligence. The key factors leading to the growth of the market are the increasing number of large-scale construction projects in emerging economies and rising investments in the construction sector. On the basis of type, the market is divided into lintels, panels, blocks, and tiles.
Among all these, the blocks division is projected to witness the fastest growth during the forecast period, owing to the ability of these products to be stacked with a thin-bed mortar in a running cloud. In addition to this, due to their easy and quick installation and high thermal efficiency, these blocks are ideal for high-rise buildings, construction of rail-road bridges, and pavement construction. Autoclaved aerated concrete blocks are further preferred highly because of their constructive factors and stability.
The autoclaved aerated concrete market is categorized into concrete pipes, void filling, construction material, bridge sub-structure, roof insulation, and road sub-base, when application is taken into consideration. Out of these, the construction material category accounted for the major share of the market in the past, and it is predicted to occupy the largest share of the market during the forecast period as well. The high requirement for the material from the infrastructure sector is driving the category’s growth.
The Asia-Pacific region has been leading the autoclaved aerated concrete market during the historical period (2014–2019) and is also projected to grow at the fastest pace during the forecast period. This is because of the expanding local real-estate construction industry and rising government investments on construction of large-scale infrastructure projects. Furthermore, the increasing disposable income of people, rising urban population, and increasing population in developing countries are also driving the demand for autoclaved aerated concrete in the region.
The rapid industrialization and urbanization, along with the expansion of the infrastructural sector, is a major driving factor of the autoclaved aerated concrete market. The various advantageous properties of autoclaved aerated concrete, including ability to sustain fire and earthquake, low cost, and diverse block sizes, are making it highly popular in the construction industry. As developing countries are widely focusing on building highways, residential areas, and on road connectivity, the demand for autoclaved aerated concrete is further expected to rise.
In addition to this, the autoclaved aerated concrete market is also being driven by the increasing requirement for lightweight construction materials. Conventionally, most of the structural frameworks of buildings are done using bricks that are made out of clay. These bricks however, have a number of disadvantages, which is why the focus is now shifting on autoclaved aerated concrete blocks. These products are light in weight and are an eco-friendly option for constructing buildings and houses.
In conclusion, the market is growing due to the swift urbanization and industrialization, expanding infrastructural sector, and need for lightweight construction materials.