Autoclaved Aerated Concrete Market Size

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.