The global AAC blocks and panels market revenue was around US$ 20 billion in 2021 and is estimated to reach US$ 34.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2022 to 2031.
Autoclaved Aerated Concrete (AAC) is produced industrially using cement, fly ash, or fine aggregate. The weight of AAC panels and blocks, which ranges from 1/6 to 1/3 of that of conventional concrete, makes them lightweight building materials. Additionally, it goes by the names porous concrete, autoclaved cellular concrete, aircrete, foam concrete, and autoclaved lightweight concrete.
Factors Influencing Market Growth
AAC Blocks are exceptional and distinctive building materials that provide the highest level of flexibility, durability, and usability. These elements will fuel the market.
The expansion in infrastructure projects and construction has raised the demand for commercial, residential, and industrial buildings, which has also contributed to the industry's long-term growth. This factor is estimated to create lucrative opportunities in the market.
Lack of awareness among consumers regarding AAC block quality can constrain market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the lockdown enacted by the government and the closure of construction sites, the majority of the migrant and local workers employed at the sites were unable to get to their places of employment. There was a notable decline in the demand for AAC blocks and non-reinforced panels internationally since they are now often employed in construction.
However, the government's large reduction in funding for infrastructure and building projects owing to increased emphasis on boosting the healthcare system had an impact on the sales of AAC blocks and panels. As construction is a volatile enterprise, decreased economic activity is a result of weak demand for industrial, commercial, residential, or renovation projects has impacted the market size.
Asia-Pacific dominated the market in 2021, and it is anticipated that it will continue to be the fastest-growing sub-segment during the forecast period. The AAC restricts demand in nations like India and China, which are expanding quickly because of increasing demand for a variety of services including entertainment and education. It offers a significant opportunity for facility building. Additionally, these countries' expanding populations have boosted the need for residential construction, which has prompted their governments to start some initiatives to encourage the development of these buildings. These factors drive the market in this region.
The leading competitors in the global AAC blocks and panels market are:
UAL INDUSTRIES LTD
JK Lakshmi Cement Ltd
H+H UK LIMITED
Biltech Building Elements Limited
UltraTech Cement Ltd
The global AAC blocks and panels market segmentation focuses on Product Type, End User, and Region.
Segmentation based on Product Type
Segmentation based on End User
Segmentation based on Region
Rest of Western Europe
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America