Hollow Concrete Block Market Research Report by Product Type (Split-Faced Concrete Blocks and Smooth-Faced Concrete Blocks), by Application (Residential, Commercial and Industrial) and by Region (North America, Europe, Apac and Row) - Forecast till 2030

Market Overview

The Hollow Concrete Block Market is estimated to register a USD 4,87,269.10 million CAGR of more than 2.60% globally during the forecast 2021-2030. The Hollow Concrete Block Market Size is expected to cover a larger than 25% of the gross area. The Global Hollow Concrete Block Market value is expected to witness high growth in the forecast period, owing to an increase in investments in construction in Hollow Concrete Block Industry and urbanization too. As a result, construction activity will increase, increasing demand for Hollow Concrete Block all around the world. The worldwide Hollow Concrete Block Market is predicted to be driven by an increase in research and development by major manufacturers in terms of novel designs and reliable processes.

COVID 19 Analysis

As the pandemic COVID 19 began and rapidly spread around all over the globe, it affected every industry including the Hollow Concrete Block Industry. The COVID-19 has had a detrimental effect on the worldwide economy, and as a result, the Global Hollow Concrete Block Market Growth has also been impacted and revenue generation has slowed. In the current context, severe rules imposed by governments in various nations have resulted in a decrease in demand for Hollow Concrete Blocks. Furthermore, during the shutdown, industries have focused on innovations, which might aid attract the attention of the majority of participants within the projected period. The impact of the COVID-19 was seen on Hollow Concrete Block Market Share and was felt in numerous ways.

However, Hollow Concrete Block Market share is expected to see possible prospects in the short term because the global Hollow Concrete Block and some other chemicals sectors and industries play such an important part in countries' economic recovery.

Competitive Landscape

With many participants from all over the world, the Global Hollow Concrete Block Market is fiercely competitive. These big competitors have used a variety of techniques to extend their worldwide footprint and gain a footing in the hollow concrete block market. Expansions, investments, contracts are just a few of their important initiatives over the forecast period. The key market players have been recognized as follows:

• Midland Concrete Products


• CEMEX S.A.B. de C.V. (Mexico)


• CRH plc (Ireland)


• Acme Brick Company (US)


• Brampton brick (US)


• Taylor Concrete (US)


• Tri-Star Brick & Block LTD (US).

Market Dynamics

Drivers

In recent years, a rise in consumer desire for green buildings, combined with developments in raw sustainable materials sediments and synthetic sand, has resulted in a surge in demand for Hollow Concrete Blocks and has proven to be the essential driver in the Hollow Concrete Block Market Value. Higher durability of Hollow Concrete Blocks, which would assist the manufacturing industry make use of it, and thus lead to the construction of a stronger block of building, as required, is one of the important elements affecting the growth of the industry positively and driving it in a growing side. The product's lightweight and low cost will help the industry generate more income over the projection period. This would provide the industry with a boost in the coming years.

Furthermore, concrete masonry modules and blocks utilize less cement and are therefore easier to handle, making them user-friendly. In the coming years, the market expansion is expected to be fueled by an increase in demand for lightweight materials in contemporary development.

Restraints

The fluctuating raw material cost is the most important factor which restrains the Hollow Concrete Block Market Growth. It hinders the growth of the market-leading to a reduction in Hollow Concrete Block Market Size and the market undergoes various challenges that pose hurdles for the market on the way of its growth as predicted by the industry players and business chiefs. There is a dire market need for proper investment and funding to conduct the research and development activities that will help the market to overcome the losses and hence, earn a better revenue as the forecast period ends in 2028.

Technology Analysis

The Hollow Concrete Block Market is experiencing a great result because of the product’s lightweight and low cost. The worldwide Hollow Concrete Blocks Market is predicted to increase significantly in the future years. These blocks facilitate the construction process, lowering the amount of time and manpower required for the project, and are expected to boost market growth during the forecast period. These blocks can be made in a variety of forms and sizes, which helps to retain the final structure's visual appeal. They have a rough surface, which provides for greater surface-to-mortar bonding.

Study Objectives

• The global market report seeks to provide a more in-depth analysis and prognosis for the Hollow Concrete Block Market. The report hypothesizes that the Hollow Concrete Block market offers a promising growth opportunity for the forecast period that will be ending in 2028.


• The Global Hollow Concrete Block Market analysis report is a thorough examination of the industry for the forecast period. Drivers, Restraints, challenges, and various analyses are discussed in the report.


• The market report aims to conduct in-depth research of the market trends that are meant to help Hollow Concrete Block Industries to flourish in the face of ongoing industry problems and re-orient its strategy to meet new economic, social, and environmental expectations.

Segment Overview

The global market for Hollow Concrete Blocks is further distinguished into various segments based on product type, application, and region to achieve the predicted CAGR growth by the end of the forecast period in 2028. The market has been segmented based on the following:

Based on the product type, the market has been segmented as follows:

• Split-faced Concrete Blocks


• Smooth-faced Concrete Blocks

Based on the application, the hollow concrete block market has been segmented as follows:

• Residential


• Commercial


• Industrial

Based on the region, the market has been segmented as follows:

• North America


• Europe


• Asia – Pacific


• Rest Of World (ROW)

Regional Analysis

The Global Hollow Concrete Block Market is divided into four regions: North America, Europe, Asia-Pacific, and the Rest of the World (ROW). In 2018, Asia-Pacific had the greatest market share of nearly 45 percent, and it is predicted to develop rapidly over the forecast period. Investments in the building and construction industry have expanded as a result of activities such as refurbishment and rehabilitation of existing buildings, increasing demand for hollow concrete blocks in the region. Furthermore, rising public and private sector investments in infrastructure construction projects in emerging economies such as China and India are expected to generate possibilities in the hollow concrete block market in Asia-Pacific. North America was the second-largest market, and it is predicted to increase steadily during the forecast period. The presence of key market participants in the United States drives the area.

Recent Developments

• Alternatives to hollow concrete blocks, such as concrete bricks and clay bricks, are anticipated to face stiff competition from industry participants. Nonetheless, shortly, the demand for the same has been increased and has further, resulted in the use of lightweight materials in modern construction projects is expected to boost demand for hollow concrete blocks.


• Parker Block (Ernest Maier) is one of the prominent players of the hollow concrete block market that has taken it to an international scale and has thus, announced the acquisition of Concrete Building Systems, a precast product manufacturer specializing in gutter splash blocks and other concrete structures. The acquisition is expected to boost the company's Hollow Concrete Block Business.


• The Guyana National Bureau of Standards (GNBS) has stated that it can test the strength properties of locally produced Concrete Hollow Blocks.

Intended Audience

• Raw Material Suppliers


• End Users


• Traders and Distributors


• Regulatory Bodies

Report Overview

The report will help with strategic planning needs by allowing constructing strategy based on segment outlooks and beating the competition by knowing competitive scenarios. Through the market, economic, and demographic profiles, the study also analyses the market potential and supports in designing the market entrance and expansion portfolio. The research aids in identifying possible growth possibilities over the forecast period ending in 2028 across industry types, applications, and nations for business development activities. The global market report targets achieving the estimated CAGR that is more than 5 % globally during the forecast period ending in 2028 than the historic forecast period that had ended in 2019.