Transparency Market Research, New York: The booming construction industry around the world is generating considerable growth for the autoclaved aerated concrete (AAC) market. The rise in the construction of residential, commercial, and industrial spaces is bringing tremendous growth opportunities for the autoclaved aerated concrete market.
As per the analysts at Transparency Market Research, the global autoclaved aerated concrete market is extrapolated to expand at a CAGR of above 7 percent between 2019 and 2027. The global autoclaved aerated concrete market was valued at US$ 11.9 bn in 2018 and is prophesied to reach nearly US$ 22.8 bn by the end of the forecast period.
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The expansion of the real estate sector due to a plethora of government initiatives across numerous countries is serving as a prominent growth accelerating factor for the autoclaved aerated concrete market. The growing adoption of sustainable buildings in the construction industry is further enlarging the growth prospects of the autoclaved aerated concrete market.
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Autoclaved Aerated Concrete Market: Major Findings
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Autoclaved Aerated Concrete Market: Growth-Inducing Factors
The growing demand for AAC as a significant material in construction of green and sustainable buildings is pushing the autoclaved aerated concrete market toward growth. The replacement of clay bricks with autoclaved aerated concrete may further enhance the growth rate of the autoclaved aerated concrete market.
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Autoclaved Aerated Concrete Market: Regional Dimensions
Asia Pacific may expand greatly across the forecast period of 2019-2027. Affordable housing initiatives by various densely populated nations such as India and China may bring expansive growth prospects for the autoclaved aerated concrete market. Rapid urbanization in countries like China may further boost the growth rate of the autoclaved aerated concrete market.
The massive rise in percentage of urban migration from rural areas in countries across Asia Pacific since the last two decades has brought massive growth for the autoclaved aerated concrete market and is prognosticated to expand further. This aspect has the potential of changing the curve of growth across the autoclaved aerated concrete market.
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Global Autoclaved Aerated Concrete Market: Segmentation
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