Global Autoclaved Aerated Concrete (AAC) Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global AAC market was estimated at USD 3,830.64 million in 2017. The market is expected to register a CAGR of 7.12% during 2018 to 2023 (the forecast period). The residential application segment dominated the global acrylic fiber market with nearly 31% share, globally, and is expected to witness a CAGR of 7.94%, during the forecast period.
Growing Emphasis on Green Buildings (LEED Ratings)
AAC, due to its properties, such as thermally insulated and energy efficient, fire resistant, termite or pest resistant, seismic resistant, and lightweight material preferred widely for the construction of green buildings. Since, AAC is made up of recyclable material, it does not have any harmful effects on the environment.
The global green building practices are driven by LEED, with almost 79,600 projects in more than 1,161 countries and territories, worldwide, with 1.85 million square feet of building space being certified daily. According to USGBC estimates, there are almost five million people experiencing LEED construction every day. The market is responding to these environmental benefits and cost savings. According to the analysis, the global green building market increases two fold in every three years, and by 2018, it is estimated that in 70 countries, almost 60% of the projects shall be green (environmental friendly).
Europe Dominates the Market
Europe has always been the frontier for green building solutions. The region has shown tremendous interest and support for LEED, especially Germany, the United Kingdom, and Poland. Huge demand from the commercial sector and various business incentives offered by legislative bodies became the prime boosting factor for the market in Europe. Following Europe, Asia-Pacific is also showing movement toward these initiatives, due to the rising energy consumption, with the development of commercial sector and discernible benefits of green buildings, along with perks associated with it.
Germany Drives the European Market
The main driver of the construction industry in Germany continues to be the residential segment. This segment was expected to increase by 7% in 2017. Demand for housing remains strong in the industry, expecting 300,000 new building units with the demand estimated at 350,000 building units per year. Non-residential construction is expected to witness moderate growth, driven by construction of industries, and it was expected to increase by 3% in 2017. Infrastructure segment in Germany is expected to have an additional EUR 500 million investment in 2017, in response to the deteriorating infrastructure in the nation. This segment is expected to increase by 3.5% in 2017.
Key Developments in the Market
July 2017: H+H International A/S signed an agreement with Grupa Ożarów SA’s to acquire its calcium silicate business in Poland. The company expects this transaction will help to create strong business for autoclaved aerated concrete and calcium silicate in Poland
June 2017: UltraTech Cement completed the acquisition of Jaiprakash Associates' six integrated cement plants and five grinding units, with a capacity of 21.2 million metric ton, worth INR 16,189 crore.
Major Players: Xella Group, Bauroc International AS, Biltech Building Elements Ltd, and Hil Ltd, among others.
Reasons to Purchase this Report
Current and future global autoclaved aerated concrete (AAC) market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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