The autoclaved aerated concrete market growth can be attributed to the increasing investments in the construction sector worldwide and the widescale construction activities in developing nations. Due to the growth in the construction sector, the market is expected to reach from $4,498.5 million in 2019 to $8,314.9 million by 2030, while displaying a CAGR of 6.0% during the forecast period (2020–2030). Other factors contributing to this market growth include increasing focus on sound-proof and green buildings, surging requirement for lightweight construction materials, rising urbanization and industrialization, and growing preference toward low-cost houses.
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People across the world are opting for low-cost houses and this can be achieved by employing low-cost construction materials, such as autoclaved aerated concrete (AAC) blocks. These blocks are manufactured at a cost lower than the clay bricks. Additionally, the AAC blocks can be easily transported in difficult terrains at a reduced cost, due to their lightweight that cuts down the transportation cost. With an increasing demand for affordable housing, the demand for AAC blocks is expected to increase during the forecast period.
Globally, the Asia-Pacific (APAC) region is expected to lead the autoclaved aerated concrete market in coming years. Additionally, the regional market is also projected to demonstrate the fastest growth in the same period. This can be ascribed to the increasing number of construction activities in APAC nations. Additionally, rapid urbanization, increasing purchasing power, government initiatives to provide affordable housing, and surging population is expected to propel the growth of the APAC market.
Thus, expansion of the construction industry and increasing demand for lightweight and environment-friendly building materials are projected to boost the market in foreseeable future.
Read more: https://www.psmarketresearch.com/market-analysis/autoclaved-aerated-concrete-market
