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Autoclaved Aerated Concrete: 2024 Market Innovations in Sustainable Building Materials
Autoclaved Aerated Concrete Market Size
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According to The Business Research Company's, The autoclaved aerated concrete market size has grown strongly in recent years. It will grow from $15.59 billion in 2023 to $17.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to energy efficiency concerns, rapid economic growth, increased infrastructure spending, growing demand for affordable housing, weight and structural advantages.
The autoclaved aerated concrete market size is expected to see strong growth in the next few years. It will grow to $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to increasing adoption of green building standards, rising urbanization, government initiatives for sustainable construction, rising awareness of fire safety, increasing industrialization. Major trends in the forecast period include advancements in autoclaved aerated concrete (aac) technology, aac in prefabricated construction, innovative aac product variations, digitalization in aac manufacturing, aac in high-rise buildings.
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Market Drivers and Trends:
The increasing construction of green buildings is expected to propel the growth of the autoclaved aerated concrete market. Green buildings are more energy-efficient and sustainable so that they have a lower carbon footprint and a minimal impact on the environment. For instance, in October 2022, according to an article published by the US Green Building Council (USGBC), a US-based non-profit organization that promotes sustainability in building design, construction, and operation, over 36,835 projects covering 4.63 billion gross square feet earned Leadership in Energy and Environmental Design (green building) certification until 2021. Moreover, in the first three quarters of 2022, over 5,000 additional projects were certified, with the highest concentration in the United States and Canada (74%), followed by East Asia (9%) and Europe (6%). Therefore, the increasing green building construction is driving the growth of the autoclaved aerated concrete market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Aerated Concrete Industries Company, Aercon Florida LLC, Akg Gazbeton Isletmeleri AS, Bauroc AS, Biltech Building Elements Limited, Brickwell Manufacturing Private Limited, Buildmate Projects Pvt. Ltd., Eastland Building Materials Co. Ltd., Health and Happiness International A/S, JK Lakshmi Cement Ltd., Masa GmbH, Parin Beton Amood Company, UAL Industries Ltd., UltraTech Cement Ltd., Haniel Bau-Industrie GmbH, Solbet Sp. z o. o, Lafarge Tarmac, Xella International GmbH, Eco Green Products Pvt. Ltd., Hyderabad Industries Limited, Renaatus Procon Private Limited, Thomas Armstrong Limited, AerBlock LLC, Aerix Industries Pvt. Ltd., CSR Hebel, DOMAPOR Baustoffwerke Beteiligungsgesellschaft mbH, HESS AAC Systems B. V., KLB Klimaleichtblock GmbH, RPP Group of Companies, Siporex India
Autoclaved Aerated Concrete Market 2024 Key Insights:
• The autoclaved aerated concrete market size is expected to see strong growth in the next few years. It will grow to $24.22 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Green Building Construction Driving Growth In The Autoclaved Aerated Concrete Market
• Technological Advancement Revolutionize The Autoclaved Aerated Concrete Market
• Asia-Pacific was the largest region in the autoclaved aerated concrete market share in 2023 and is also expected to be the fastest-growing region in the forecast period
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