The AAC blocks and panels market, demonstrating strong growth, is set to escalate from $19.92 billion in 2023 to $21.39 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.4%. This robust growth in the historic period is attributed to infrastructure development initiatives, compliance with building codes, material innovations and advancements, a focus on fire-resistant materials, and evolution within the construction industry. Looking ahead to 2028, the AAC blocks and panels market is poised for continued strong growth, reaching $28.2 billion at a CAGR of 7.2%. The growth in this period can be linked to factors such as rapid urbanization and infrastructure projects, government regulations emphasizing energy efficiency, a surge in demand for residential housing, and increasing activity in commercial construction. Key trends in this forecast period include architectural design flexibility, government support and incentives, a preference for green buildings, and the promotion of sustainable building practices.
Major Driver In The AAC Blocks And Panels Market
An increase in construction activities is expected to boost the growth of the AAC blocks and panels market going forward. Construction activity refers to any activity that is related to the land, including land-building infrastructure and structures. Building infrastructure and construction of buildings would result in increasing demand for AAC blocks, as they are lightweight, load-bearing, high-insulating, durable building blocks and 3 times lighter when compared to red bricks. For instance, according to Zippia, a US-based job-recruitment company, there was a 4% rise in construction activities from 2020 to 2021 with 1,337,800 additional housing units. Therefore, an increase in construction activities drives the AAC blocks and panels market.
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AAC Blocks And Panels Market Competitive Landscape
UltraTech Cement Ltd., Ecotrend New Building Materials Development Co. Ltd., CK Birla Group, Tarmac Building Products Limited, Health and Happiness (H&H) International Holdings Ltd, Colonial Sugar Refining Company Limited., Xella International, JK Laxmi Cement, Forterra PLC., UAL Industries Ltd., ACICO Industries Company, Schwenk Building Materials, AKG Gazbeton, BAUROC AS, Magicrete Building Solutions Pvt. Ltd., Hebel, MASA GmbH, Siporex India Pvt Ltd., Biltech Building Elements Ltd., Eco Green Products Pvt Ltd., Wehrhahn GmbH, Buildmate Projects Pvt. Ltd., SOLBET, Aercon AAC, Aircrete Europe, LCC SIP Ltd., AerBlock, Ecolite AAC Blocks, Mepcrete AAC Blocks, Renacon AAC Blocks, Impulse Constrotech Pvt. Ltd., Durox (owned by Tarmac), E-Crete, ECO-CARE Building Products Pvt Ltd., Dr. Fixit (P.I.Dilip Buildcon Ltd.), Brikolite AAC Blocks, Roca India
Key AAC Blocks And Panels Market Trend
Product innovations have emerged as the key trend gaining popularity in the AAC blocks and panels market. Major companies in this market are developing innovative products to strengthen their position. For instance, in November 2021, Holcim Group, a Switzerland-based manufacturer of building materials, launched an AAC concrete block adhesive for building walls. This adhesive can be used for all types of AAC (autoclaved aerated concrete), bricks, and various cement blocks available on the market. It aims to securely link blocks with high adhesive strength, creating stronger walls with fewer materials, using products like cement, carefully graded fillers, and a specific polymer.
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AAC Blocks And Panels Market Segmentation
The AAC blocks and panels market covered in this report is segmented –
1) By Type: Blocks, Panels, Lintels, Other Types
2) By Size: Small, Medium, Large
3) By End-User: Residential Construction, Commercial Construction, Industrial Construction, Infrastructure Construction
By Geography:The regions covered in the aac blocks and panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the AAC blocks and panels market in 2023.
The AAC Blocks And Panels Global Market Report 2024 furnishes information about the global aac blocks and panels market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
