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rise in urbanization are anticipated to provide remunerative opportunities for key players to maintain the pace of the market in the upcoming years.
WILMINGTON, DE, UNITED STATES, December 19, 2024 /EINPresswire / -- AAC Blocks and Panels Market: An Overview of Growth and Trends
A recent report by Allied Market Research titled “AAC Blocks and Panels Market” reveals that the market, valued at $19 billion in 2021, is projected to reach $34.4 billion by 2031, with a compound annual growth rate (CAGR) of 6.2% from 2022 to 2031.
Autoclaved aerated concrete (AAC) is a lightweight, durable, and highly insulating building material available in various sizes and strengths. Compared to red bricks, AAC blocks are three times lighter. They are made using lime, sand, cement, water, and a small amount of a raising agent. The mixture is autoclaved under heat and pressure to develop its unique properties, including superior acoustic and thermal insulation. In comparison to conventional building materials like brick, wood, and stone, AAC is more affordable and environmentally sustainable. Its high compressive strength, dimensional accuracy, and quick installation make AAC an attractive choice, contributing to the market's growth.
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Challenges in the AAC Market
Despite its advantages, AAC blocks and panels face certain limitations. High costs make them less appealing to budget-conscious consumers, who often opt for alternatives like red bricks. Furthermore, a lack of awareness regarding the benefits and quality of AAC materials limits their adoption, impacting market growth.
Regional Dynamics and Market Drivers
China, a leading producer of AAC, has seen significant growth in its construction sector. Over the years, residential and commercial construction activities globally have surged, with China's civil construction sector growing by over 147%. The country's green construction initiatives aim to preserve natural resources and improve air quality, further boosting AAC adoption. AAC materials stand out for their durability, flexibility, and ease of use, driving their demand and market share during the forecast period.
Market Segmentation
The global AAC blocks and panels market is segmented by product type, end-use industry, and region:
By Product Type: Includes blocks, panels, lintels, and others.
By End-Use Industry: Covers residential, commercial, industrial, and infrastructural construction.
By Region: Analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
Prominent players in the market include MASA GmbH, Aercon AAC, AKG Gazbeton, JK Laxmi Cement, Biltech Building Elements, CSR Ltd., Forterra Plc, H+H International A/S, CK Birla Group, and Xella.
Comprehensive Market Analysis
The report delves into global market trends by examining major segments, market dynamics, regional performance, investment opportunities, and contributions of key players. Additionally, it highlights current scenarios, future trends, and challenges like high costs and limited awareness. Porter's Five Forces analysis is included to evaluate factors such as competitive landscape, bargaining power of buyers and suppliers, and threats from new entrants and substitutes.
Impact of COVID-19
The pandemic significantly impacted the AAC blocks and panels market. Construction and manufacturing activities slowed due to supply chain disruptions, lockdowns, and labor shortages. Many companies halted operations, and import-export restrictions further exacerbated the situation. Social distancing norms and production constraints in key markets such as China, India, and the U.S. reduced global market demand.
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Key Findings
By Product Type: Blocks led the market in 2021 and are expected to remain the fastest-growing sub-segment through 2031. Panels are predicted to be the second-fastest-growing segment.
By End-Use Industry: Residential construction emerged as the leading segment in 2021 and is poised for rapid growth in the coming years.
By Region: Asia-Pacific held the highest market share in 2021 and is expected to maintain its dominance during the forecast period.
Future Outlook
The AAC blocks and panels market holds promising growth potential driven by increasing construction activities, green building initiatives, and the material's superior properties. Overcoming challenges like high costs and limited awareness will be key to unlocking its full potential.
David Correa
Allied Market Research
+ 1 800-792-5285
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