The
global Hollow
Concrete Blocks Market size is expected to reach USD 371.78 billion by
2030, registering a CAGR of 5.2% over the forecast period, according to a new
report by Grand View Research, Inc. Hollow concrete blocks are primarily used
in residential and non-residential buildings such as load-bearing structures,
low-rise residential, institutional buildings, office buildings, warehouses,
and shelter units for rural housing.Additionally, these blocks have a
consistent finish and offer high dimensional accuracy which makes them an ideal
building material for building partition walls and load-bearing structures.
A
rise in technological advancements in concrete and construction activities
offers feasible solutions for building rigid and durable structures. Moreover,
the growing need for long-lasting building structures coupled with less
maintenance of the structures is likely to upscale the demand for hollow
concrete blocks over the coming period.
Key
global manufacturers are focusing on producing low-cost and high-quality
concrete blocks to meet rising consumer demand. However, the product pricing
depends upon the type of hollow concrete block used as per the application
which includes concrete stretcher blocks, lintel blocks, and partition concrete
blocks. For instance, partition concrete blocks are used specifically for
building partition walls, while lintel blocks are primarily used on the top of
the portion of doors and windows.
The
top market players are investing heavily in research and development activities
to develop low-cost and high-value products. The regulatory guidelines which
promote green and energy-efficient buildings are expected to drive the product
demand for the market. With the increase in focus on eco-friendliness and
energy efficiency, companies are investing in the development of green building
products.
Split-faced
was the dominant product segment owing to its rough and hand-chiseled-like
surface allowing better bonding between the surface and the mortar in the
residential and non-residential application segments.In addition, they are used
as load-bearing walls or veneers that can blend well with other architectural
block finishes, especially in non-residential or commercial applications.
The
Asia Pacific is anticipated to remain a key driving region for the hollow
concrete block industry owing to the increasing construction in the residential
and non-residential application segments. In addition, the abundant
availability of construction materials including cement and aggregates in
countries including China and India is expected to lower the raw material
procurement cost. This in turn reduces the overall cost of the product in the
region, thereby attracting end-user to utilize hollow concrete blocks in place
of other materials including clay bricks and solid concrete blocks.
The
value chain for hollow concrete blocks is inclusive of raw-material suppliers,
concrete block manufacturers, distributors/suppliers, and end-users. Value
addition at each stage mentioned results in a price hike for the products. This
includes raw material prices, handling charges, specialized transportation,
supplier charges, taxes, and labor charge.
Related Press
Release@ Hollow
Concrete Blocks Market Report
List of Key Players in the Hollow Concrete
Blocks Market
- Acme Brick
Company
- Brampton
Brick Ltd.
- CEMEX SAB de
C.V.
- CRH plc
- Magicrete
Building Solutions Pvt. Ltd.
- BGC
(Australia) PTY Ltd
- Taylor
Concrete Products Inc.
- Tristar
Brick and Block Ltd.
- UltraTech
Cement Ltd.
- Ublok
Hollow Concrete Blocks Market Report Highlights
- Split-faced
hollow concrete blocks were the largest and fastest growing market segment
and accounted for 63.1% of the revenue share in 2022 as these are one of
the most non-residentially used architectural concrete masonry unit (CMU)
finishes. The product appears to have been split or hand-chiseled to give
it a textured look. However, practical manufacturing includes pouring the
concrete slurry into a form with the texture already build into it
- Smooth-faced
hollow concrete blocks are the most commonly used concrete blocks in both
residential and non-residential application segments. They are fabricated
under molds that result in a smooth finish on all sides of the block.
These blocks are used in both exterior and interior applications and
exhibit a fine natural finish
- The use of
hollow concrete block products including split-faced and smooth-faced
concrete blocks in residential construction is widely popular in North
American and European countries owing to the matured construction market.
However, the Asia-Pacific region has adopted the construction material at
a much faster rate owing to the product’s cost-effectiveness. superior
strength, excellent durability, and an easy installation process that is
projected to promote its application in the residential sector
- The
non-residential application segment includes the construction of
commercial, infrastructure, and industrial sector buildings. The hollow
concrete block walls used in the commercial building are manufactured
off-site, which helps in saving time and space. In addition, the speed and
ease of building hollow concrete walls promote its application in parking
and shed structures.
- Key players
in the market include CEMEX SAB de CV, CRH plc, UltraTech Cement Ltd, and
Brampton Brick Ltd. These companies cater to a majority of the stake in
the market owing to their widespread presence in the value chain. The
companies are vertically and horizontally integrated throughout the value
chain. As a result, the product manufactured by the companies is of
premium quality due to their in-house cement and concrete manufacturing.
These factors provide an edge over its peers which are present in the
market.
Hollow Concrete Blocks Market Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2023 |
USD
259.81 billion |
|
Revenue
forecast in 2030 |
USD
371.78 billion |
|
Growth
rate |
CAGR of
5.2% from 2023 to 2030 |
|
Base year
for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Related Reports@
Hollow Concrete Blocks Market Segmentation
Grand
View Research has segmented the global hollow concrete blocks market based on
product, application, and region:
Hollow Concrete Blocks Product Outlook (Revenue, USD
Billion, 2018 - 2030)
- Split-faced
- Smooth-faced
Hollow Concrete Blocks Application Outlook (Revenue, USD
Billion, 2018 - 2030)
- Residential
- Non-residential
Hollow Concrete Blocks Regional Outlook (Revenue, USD
Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Turkey
- Asia Pacific
- China
- India
- Australia
- Indonesia
- Singapore
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- Saudi
Arabia
- UAE
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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