Portland,OR, Nov. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global AAC blocks and panels market garnered $19.0 billion in 2021, and is estimated to generate $34.4 billion by 2031, manifesting a CAGR of 6.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $19.0 billion |
| Market Size in 2031 | $34.4 billion |
| CAGR | 6.2% |
| No. of Pages in Report | 305 |
| Segments covered | Product Type, End Use, and Region. |
| Drivers | Surge in demand for environmentally friendly products |
| The expansion of the construction industry | |
| Offer advantages over traditional concrete, including high tensile strength, a high rate of compression, and easy machinability | |
| An array of end-use applications in residential construction, commercial construction, industrial construction, and infrastructural construction | |
| Opportunities | The industry players are investing a lot of effort in the research and development |
| Restraints | Sky-rocketing cost of AAC blocks |
| AAC blocks demand greater caution when handling and transporting than clay red brick |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global AAC blocks and panels market, owing to implementation of global lockdown which resulted to temporary closure of all construction projects, especially in the initial period.
- The significant decline in government investments towards construction & infrastructure projects owing to the growing focus on strengthening the healthcare infrastructure during the pandemic has affected the AAC blocks and panels sales.
- As construction is a volatile industry, reduced economic activity due to low demand for commercial, industrial, refurbishment, or residential construction has affected the AAC blocks and panels market size.
- Most of the migrant and local workers working at the construction sites could not reach their work locations owing to COVID-19 protocols and the shutdown of construction sites. As AAC blocks are widely used in construction, there was a significant reduction in the demand for AAC blocks and non-reinforced panels globally.
- Supply chain was disrupted due to import & export restrictions. Due to this, Manufacturers faced shortage of labor and unavailability of raw materials.
- However, the demand for AAC blocks and panels is likely to increase in the post-pandemic.
The research provides detailed segmentation of the global AAC blocks and panels market based on product type, end-use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the blocks segment held the highest share in 2021, accounting for more than half of the global AAC blocks and panels market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 6.68% from 2022 to 2031.
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Based on end-use, the residential segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global AAC blocks and panels market, and is expected to maintain its lead in terms of revenue during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 6.6% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global AAC blocks and panels market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 6.5% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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Key Players:
Leading market players of the global AAC blocks and panels market analyzed in the research include JK Lakshmi Cement Ltd., Xella Group, Biltech Building Elements Limited, UltraTech Cement Ltd., AERCON AAC, Wehrhahn GmbH, AKG Gazbeton, SOLBET, and many others.
The report provides a detailed analysis of these key players of the global AAC blocks and panels market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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