Focus on escalating construction activities, growing emphasis on green buildings and government support are major factor contributing towards development of Bricks and Blocks Market in Karnataka
Entry of AAC Manufacturers and Rapid Urbanization: AAC Blocks market have been witnessing entry of multiple manufacturing players in the last 3-4 years as the government has taken initiative to use AAC Blocks to reduce environmental impacts and improve energy efficient materials in brick manufacturing process. On the other hand, construction activity is rising as a result of rapid urbanization, with the current population of 66.2 Mn which is projected to grow to 74.2 Mn by FY 2027 pressurizing the cities for development and improving the infrastructure of the state for better quality of life.
High-rise Residential Building Demand and Government Support: The demand for high-rise structures is the present trend; ~1,500 high-rise structures have been built in Bengaluru, and more are being built there right now, including Adarsh Tropica, Engrace, and others. Additionally, the Karnataka government has ordered operators of thermal power plants to give fly ash to brick producers at no charge. To encourage manufacturers’ interest in creating fly ash bricks, numerous incentives are being offered to reduce carbon emissions.
Technological Obsolescence: Since its inception, the brick industry in Karnataka has relied on conventional techniques for producing bricks and has not undergone a significant technological development. Due to a lack of technical know-how and government funding, manual brickmaking is primarily used. Additionally, small to mid-scale players are hesitant to adopt modern technology because doing so takes significant investment, and they prefer labor-intensive processes over switching to completely automated ones.
Environmental Constraints: The Karnataka brick industry is currently based on decentralized production activity using energy intensive, resource depleting and highly polluting technologies and production methods. The industry faces considerable constraints leading to depletion of natural resources.
Analysts at Ken Research in their latest publication “Karnataka Bricks & Blocks Market Outlook to 2027– Driven by Rising Urbanization and Escalating Construction Activities to Develop the Existing Infrastructure” observed that bricks and blocks market in Karnataka is at growing stage. The formulation of supportive government policies and rapid urbanization, technological advancement and growing emphasis on green buildings are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.4% CAGR during 2022-2027.
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Major Players Mentioned in the Report
- Birla Aerocon (CK Birla Group)
- Durgamba Building Solutions Co.
- Ultratech AAC Blocks
- Neolite Buildcon
- Sri Balaji Enterprises
- Fusion Building Materials
- Renaatus Procon Pvt. Ltd.
- Aswani Industries Pvt. Ltd. (Ascolite AAC)
- Masuvic Indsup Pvt. Ltd. (Nexrise AAC)
- Conecc Industries Pvt. Ltd.
- Falcon (Building Solutions)
- Arugonda Infratech
- VP Enterprises
- Maxlite AAC Blocks
- Meghalite AAC Blocks
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- 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: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027
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