Autoclaved Aerated Concrete Market size was valued at USD 15.66 billion in 2023 and is likely to reach USD 34.23 billion by 2036, expanding at around 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of autoclaved aerated concrete is estimated at USD 16.44 billion. The growth of the market can be attributed to the robust growth of the infrastructure sector in the recent years, rising industrialization and urbanization, and increasing demand for lightweight construction materials around the world. According to the World Bank, in 2018, 55.272 percent of total population lived in urban areas, which reached up to 56.15 percent in the year 2020. The urban population of the world has only increased since 1960. Along with these, rapid increase in population is also giving rise to the high demand for affordable housing in metropolitan cities, which is another factor projected to boost market growth in the region. Furthermore, growing emphasis of governmental and non-governmental agencies in developing nations on soundproof and green buildings is expected to offer ample opportunities for market growth in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.2% |
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Base Year Market Size (2023) |
USD 15.66 billion |
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Forecast Year Market Size (2036) |
USD 34.23 billion |
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Regional Scope |
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The market is segmented by type into block, panel, tile, lintel, and others, out of which, the block segment is anticipated to witness the highest growth in the global autoclaved aerated concrete market on account of the rise in demand for AAC blocks in several non-residential and residential industries, and ease of installation of this product. Additionally, on the basis of end user, the residential segment is predicted to gather the largest share over the forecast period, which can be credited to the growing demand for environment-friendly building materials, and increasing number of living and working spaces in urban areas. Since 2017, the total number of green homes have increased by almost 20 percent. It is evaluated that the global green building industry alone is capable of reducing the energy consumption by more than 50 percent by 2050.
Our in-depth analysis of the global market includes the following segments
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By Type
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By End User |
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On the basis of geographical analysis, the global autoclaved aerated concrete market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. North America is anticipated to dominate majority revenue share by 2036, on the back of increasing number of construction activities in the commercial and medical sectors, and growing establishment of green buildings in the region. In 2018, construction activities worth more than USD 42.5 billion were put in place in the healthcare sector in the United States. The value rose up to USD 43.6 in 2019. Moreover, the market in Asia Pacific is assessed to occupy the largest share during the forecast period, which can be ascribed to the rising demand for AAC from the construction sector of countries, namely China, India and South Korea, and rapid rate of industrialization in the region. In addition, easy availability of raw materials and presence of cheap labor are also projected to boost the market growth in APAC in the coming years.
Author Credits: Rajrani Baghel
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