Asia-Pacific Autoclaved Aerated Concrete Market is Expected to be Dominated by the Construction Materials Segment through 2028
Rising
construction activities across the Asia-Pacific region owing to increasing
government investment funding are likely to propel the Asia-Pacific autoclaved
aerated concrete market in the upcoming years.
According to
TechSci Research report “Asia-Pacific Autoclaved Aerated Concrete Market By
Country, Competition, Forecast & Opportunities, 2028”, the market is
expected to boost in the upcoming years due to the rising need for
environmentally friendly materials, lightweight and durable materials, and
increased speed of construction work among others.
In the
Asia-Pacific region, India is the fastest growing country as compared to others
owing to massive investment by the union government & foreign countries
investment across the nation. The Indian government have also made large
expenditures in infrastructure development to strengthen their economies and
generate job opportunities. Additionally, residential infrastructure and smart
cities, particularly urban centres, are being designed and constructed to be
prepared for the anticipated rise in the urban population in the future years.
For instance, India has put into place many initiatives including the
"Smart Cities Mission" and the "Housing for All" project to
support sustainable infrastructure in Indian cities. The Asia-Pacific
autoclaved aerated concrete market is projected to grow due to increasing
infrastructural construction.
Impact of
COVID-19: Declined Demand for Autoclaved Aerated Concrete in the Asia-Pacific
Region
Due to
COVID-19, many people had to accept pay reductions, which had a negative impact
on people's income. For instance, India was the most impacted country during
COVID-19. As of May 2022, it was estimated that India's unemployment rate was
around 7%. As a result of these negative economic effects, consumer demand for
expensive items declined. AAC is more costly than regular concrete because of
its higher production expenses. Many customers chose a less expensive option
for construction due to economic uncertainty. Additionally, the
decline in their income during the lockdown period compelled many private
builders to amend their purchase orders, switching AAC for concrete to reduce
construction costs. This had a negative impact on the Asia-Pacific autoclaved
aerated concrete market.
The
Asia-Pacific autoclaved aerated concrete market is divided into product type,
end user, application, and geographical segments. Based on the application, the
market is divided into construction materials, road construction, roof
insulation, bridge sub-structure, void filling, and others. The
construction materials application segment is anticipated to have the
largest market share in the upcoming years due to the growing use of autoclaved
aerated concrete (AAC) as a construction material in infrastructure activities.
The AAC is used to build a lot of buildings, especially residential and
commercial ones. The advantages of AAC's characteristics are felt in the built
environment, where people reside and spend the bulk of their time. Because of
their better sound and thermal insulation and energy efficiency, buildings
constructed with AAC are healthy and sustainable. Compared to ordinary
cladding, which is frequently made of wood and wood composites, the AAC offers
greater resistance to fire and related events, providing the relevant
occurrences and allowing the inhabitants a suitable lead time to leave the
area.
Based on the
end user segment, the market is divided into residential, commercial,
industrial, and infrastructure. The residential end user segment in the
Asia-Pacific autoclaved aerated concrete market is expected to be dominated in
the upcoming years. Various country’s governments in the Asia-Pacific region
have various initiatives in the residential sector, for instance, Housing for
All, Smart Cities Mission, and National Housing and Homelessness Agreement
(NHHA) in Australia among others. Additionally, China allocated around USD 29
billion in loans to housing projects in September 2022. Therefore, the above
factors are responsible for the rise in the market of autoclaved aerated
concrete in the Asia-Pacific region from 2024-2028. Furthermore, the demand for
AAC is increasing in the building construction sector owing to environmentally
friendly material as compared to ordinary material.
Key market
players in the Asia-Pacific autoclaved aerated concrete market include:
- Guangxi Hongfa Heavy Machinery Co.
Ltd
- Fujian Qunfeng Machinery Co. Ltd
- Build Mate Projects Pvt Ltd
- CSR Limited
- Celcrete Cladding Systems NZ Ltd
- New Era Block Tile Jsc
- JK Lakshmi Cement Ltd
- Ambuja Cements Ltd
- Broco Pearl Electrical Industry
- HIL Limited
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“The
Asia-Pacific autoclaved aerated concrete market is expected to register a
significant CAGR during the forecast period. There are various factors such as
the rising need for environmentally friendly materials, lightweight and durable
materials among others across the region. In the Asia-Pacific region, the
demand for autoclaved aerated concrete market is expected to rise in the
upcoming years owing to rapid urbanization, increasing construction activities
and investment by the various governments in the infrastructure sector among
others across the region. For instance, in India, numerous government
initiatives, such as the Pradhan Mantri Awas Yojana, Rajiv Gandhi Awas Yojana,
the Affordable Housing in Partnership Scheme, and the Integrated Housing &
Slum Development Programme have been launched. These leads to a direct impact
on the market of AAC for the upcoming years. Additionally, Australia's
government budget for 2022–2023 will invest USD 12.05 billion over ten years
in key infrastructure projects, including significant sums for national
rail and road projects. Additionally, between 2021 and 2025, it is anticipated
that more than USD 146.73 billion would be invested in significant public
infrastructure. Therefore, the rising initiatives across the region are
responsible for the growth of the Asia-Pacific autoclaved aerated concrete
market in the forecast period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
Asia-Pacific
Autoclaved Aerated Concrete Market Segmented By Product Type (Block, Lintel,
Floor Elements, Roof Panel, Wall Panel, Cladding Panel, and Others), By End
User (Residential, Commercial, Industrial, Infrastructure), By Application
(Construction Materials, Road Construction, Roof Insulation, Bridge
Sub-Structure, Void Filling, and Others), By Country, Competition, Forecast
& Opportunities, 2029 has
evaluated the future growth potential of Asia-Pacific autoclaved aerated
concrete market and provides statistics & information on market size,
structure, and future market growth. The report's goal is to give current
market knowledge and assist decision-makers in making informed investment
decisions. Furthermore, the study identifies and analyses emerging trends, as
well as key drivers, challenges, and opportunities in the Asia-Pacific
autoclaved aerated concrete market.
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