“GST Slab Reduction for Construction Materials and Limited Entry Barriers in Bricks and Blocks Market has Supported the Market Growth.”
Analysts at Ken Research in their latest publication “India Bricks and Blocks Market Outlook to 2024-Rising Emphasis on Green Buildings and High Rise Building Projects Elevating Demand for AAC Blocks” believe that it is imperative for brick manufacturers to maintain the quality of bricks manufactured. Several defects may arise including: oversize in all 3 dimensions if they are under fired, oversize in width and length if bricks have been squashed while still wet, oversize in thickness which arises in the process of wire cutting or undersize in all 3 dimensions due to undersized mod or too high clay content. The defects could be overcome by achieving a homogenous mixture of the raw materials and exposing the bricks for drying and firing adequately. The AAC blocks market is anticipated to grow to INR 27.7 billion in FY’2021 with a growth rate of 9.9% during FY’2021.
Growing Emphasis on Green Buildings: AAC, owing to its thermal insulation and energy-efficient properties, along with being fire-resistant, termite- or pest-resistant, seismic-resistant and lightweight, is preferred widely for the construction of green buildings. Since AAC is made up of recyclable material, it does not have any harmful effects on the environment. Green buildings, also known as sustainable buildings or green constructions, are built with the objective to reduce the impact of built environment on nature and human health. Both in residential and non-residential constructions usage of AAC blocks as green building material has been seen over the years in India, where MNCs and Indians companies looking to build green building under the pledge of reducing pollutions. Also, with increasing awareness and advantage of AAC blocks has lead to use of AAC blocks in residential sector mainly in large residential buildings. It is estimated with growing environmental problems almost 60% of projects in the country will of AAC blocks in coming years.
GST Slab Reduction: In FY’2019, a GST rate on fly ash blocks has been revised to 5% which was previously 18% and 28%. This cut down of tax will provide major boost to the manufacturers as well as the customers in purchasing fly ash blocks which will positively impact the market of fly ash bricks and AAC blocks. Government has put efforts in revision of GST rates in housing tax for providing affordable housing, and RBI has cut down the interest rates for home loans which are positive signs for construction industry to grow in forecasted period.
Growing Highrise Building Projects: After the removal of ban on high rise building in FY’2014, there has been tremendous development and construction of high rise buildings have been observed in both residential and commercial building in Tier 1 cities of India such as Mumbai, Delhi NCR, Kolkata and others. Major, reason for this fast development has been the exhausts of horizontal expansion in lands in metro cities such as Mumbai and Delhi. Currently, more than 400 high rise buildings are there in India, and In Mumbai, 71 projects are developed and under construction from which majority are of residential buildings. Also, other cities such as Ahmedabad, Bangalore, Kolkata and others are coming up with these projects.
Key Segments Covered:-
Bricks Market
By Revenue
By Type of Bricks (Clay brick, Fly Ash Brick and Concrete Block)
By Manufacturing Process of Clay Brick (Zig-Zag, FCBTKs and Others)
By Application Type (Residential and Non-Residential)
By Number of Bricks
By Type of Bricks (Clay brick, Fly Ash Brick and Concrete Block)
By Type Concrete Block (Solid, Hollow, CLC and RMC)
AAC Block Market
By Revenue
By Size of AAC Block (4”,6”,8” and Others)
By Application (Residential and Non-Residential)
By Region (West, South, North and East)
Key Target Audience:-
Infrastructure Industry Investors
Green Building Material Market
Future Prospect of India AAC Blocks
AAC Blocks Manufacturers in India
AAC Block Association of India
Fly Ash Association of India
India Construction Material Market
High Rise AAC Block Building
Fly Ash Bricks Manufacturers
Clay Brick Kilns in India
Hollow Block Market in India
Investment Model for AAC Block Plant
Time Period Captured in the Report:-
Historical Period – FY’2014-FY’2019
Forecast Period – FY’2019-FY’2024
Major Companies Covered:-
HIL Limited
Biltech Building Elements Ltd.
Magicrete Building Solution Pvt. Ltd.
Ascolite
BigBloc Construction Ltd.
UAL Industries
Renaatus Procon Private Limited
JK Lakshmi Cement
Ultratech Cement
Ambuja Cement
For more information, refer to below link:-
India Bricks and Blocks Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
