Autoclaved Aerated Concrete Market will rise to US$11.44 bn by 2024
The autoclaved aerated concrete market in Europe and Asia Pacific is highly competitive owing to the presence of a large number of AAC manufacturers, observes a recent report by Transparency Market Research. On the other hand, the North America market features a low level of competition owing to the limited number of players due to subdued demand. Strong regional presence of companies such as Xella Group, H+H International, SOLBET, ACICO, AERCON AAC, and UltraTech Cement Ltd. have allowed them lead the market’s competitive scenario.
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Transparency Market Research estimates that in terms of revenue, the global market for autoclaved aerated concrete (AAC) was valued at US$6.11 bn in 2015. The market is expected to exhibit a 7.3% CAGR between 2016 and 2024, owing to which, it will rise to a valuation of US$11.44 bn by 2024. In terms of product variety, the segment of AAC blocks dominated the global market with a 48.78% of the market in 2015. Geographically, Europe dominated, holding more than 34% of the global market in 2015.
Reinforcement of Environment Protection Laws Prompt Construction Companies to Adopt AAC
AAC has gained an increasing level of popularity in the global market owing to the heightened focus on environment-friendly construction materials. Production of AAC is energy-efficient and the material is chemically inert, nontoxic, and weighs only about one-fourth the weight of conventional concrete. Owing to these factors, AAC has become one of the primary choices of the construction industry for developing green building projects. The low weight of AAC structures leads to a significant reduction on the materials’ cost of transportation. Moreover, AAC makes excellent use of fly ash (approximately 60% by weight of a typical AAC product), many million tons of which are produced every year by the thermal power generation industry.
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Owing to these factors, AAC blocks are increasingly replacing traditional red bricks across the globe. Compared to the process of manufacturing of red bricks, which is highly taxing to the environment as it consumes fertile land and emits greenhouse gases, AAC has a significantly low level of negative impact on the environment. The factor is expected to remain one of the key growth drivers of the global AAC market in the next few years. With environment protection amendments and rules becoming stricter with every passing day, AAC will garner a central position in the global market in the near future.
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