Key Highlights
According to a new market report published by Transparency Market Research titled ‘Autoclaved Aerated Concrete Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global autoclaved aerated concrete market was valued at around US$ 11.9 Bn in 2018 and is projected to reach nearly US$ 22.8 Bn by 2027, expanding at a CAGR of above 7% between 2019 and 2027.
Autoclaved aerated concrete (AAC), also known as autoclaved cellular concrete (ACC) or autoclaved lightweight concrete (ALC), is a lightweight precast building material whose adoption has been on the rise recently.
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Although the product has been used since 1923, it has garnered immense popularity recently, due to its ability to provide rigid structure, insulation, fire resistance, and economy of construction. AAC has a porous structure. It contains pockets of trapped air, which make it lighter than other building materials. The material can be employed for internal as well as external construction, due to its high thermal insulation and ease of installation. AAC is used as an eco-friendly green building material in residential, commercial, and other types of construction. It is manufactured using fly ash, which is an unavoidable waste of thermal power plants and is available in abundance. Also, AAC is an energy-efficient building material, and it reduces the total cost of construction. Energy consumed for the production of AAC is less as compared to that for other building materials. AAC consumes approximately 50% less energy than concrete. Tiny air pockets and thermal mass of AAC offer thermal insulation, which reduces construction costs related to heating and air-conditioning. AAC reduces heating and cooling requirements by up to 30% due to its thermal insulation properties, resulting in continued financial benefits during the life of the construction.
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Increase in Construction Spending Driven by Expansion of the Construction Sector:
Demand for traditional building materials is primarily driven by expansion of the construction sector globally. Overall increase in construction and infrastructure-related activities worldwide has resulted in rise in demand for residential, commercial, and industrial construction, leading to consistent expansion in the building materials industry. Furthermore, macroeconomic factors such as GDP growth in Europe, gradual recovery in construction expenditure across residential and non-residential sectors, and anticipated expansion in the real estate sector supported by government initiatives for providing affordable housing are expected to drive the autoclaved aerated concrete market. Construction of a wall with AAC block walls results in a cost savings as compared to traditional bricks.
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High Investment Costs Associated with the Production of AAC:
AAC has demonstrated its benefits for more than 70 years, owing to its properties such as high heat and fire insulation capacity. AAC structural members with reinforcement can be combined in an integrated production with non-reinforced block material, etc. The integrated production of reinforced products and block materials requires a qualified plant facility with an advanced reinforcement technology. AAC products are manufactured in block factories or in factories with an integrated reinforcement technology that allows for the manufacture of AAC products such as deck and roof elements, wall panels, and lintels apart from blocks. In terms of volume, the production of advanced reinforced components such as panels and lintels has remained subdued as compared to that of blocks. The investment required for building an integrated production facility for manufacturing panels and lintels along with blocks is more than twice that of a simple block.
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