USD 247.14 billion
Hollow Concrete Block Market Size, Share, Growth Analysis, By Type(Split-Faced Concrete Blocks, and Smooth-Faced Concrete Blocks), By Application(Residential, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG15F2160 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|
Tables:
62 |
Figures:
68
Hollow Concrete Block Market Insights
Global Hollow Concrete Block Market size was valued at USD 247.14 billion in 2022 and is poised to grow from USD 259.99 billion in 2023 to USD 390.02 billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).
Buildings are constructed of concrete blocks instead of traditional bricks and mortar. They are made of sand, aggregate, cement and water. Hollow concrete is composed of cement, sand, aggregate, and water. In and out of infrastructure projects, floors, walls and buildings are installed. Due to its quality, this material can be used as an alternative to burn clay bricks, concrete bricks, fly-ash clay bricks, sand and lime bricks and concrete bricks These materials for the construction industry are convenient, reducing necessary time and labor.
According to the Government of India, more than 40% of the Indian population is expected to live in Indian cities by 2030 (34% by 2021) which is likely to create demand for another 25 million affordable seeds (NaBFID) passed a bill providing an improvement to a financial institution valued at US$1. $2.5 billion (about $8 per person in the US) (about $8 per person in the US).
According to the Central Bank of Singapore, the country is planning to invest more than $2.7 billion in infrastructure and construction projects. The government has announced that the public sector will issue green bonds of up to SGD 35 billion (US$25.3 billion) until 2030 to fund sustainable infrastructure projects.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial blocks
Growth Rate
5.2% CAGR
Global Hollow Concrete Block Market ($ Bn)
Country Share for North America Region (%)
Global Hollow Concrete Block Market By Application (%)
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Hollow Concrete Block Market Segmental Analysis
Based on type, the Hollow Concrete Block market segmentation includes Split-Faced Concrete Blocks and Smooth-Faced Concrete Blocks. The Hollow Concrete Block market segmentation, based on Application, includes Residential, Commercial, and Industrial. By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World.
Analysis by Application
The residential block has dominated the market because hollow concrete blocks are a popular choice for various residential applications, such as foundations, walls and patios. Hollow concrete blocks are chosen by people for various residential applications. Hollow concrete is relatively inexpensive.
Commercial blocks play an important role in the hollow concrete block market due to their various applications and demand in the commercial construction industry. Hollow concrete units, also known as concrete masonry units (CMUs), are widely used in commercial buildings and buildings.
Analysis by Product
Split-faced hollow concrete blocks accounted for the largest and fastest growing market segment and accounted for 63.1% of the revenue by 2022. As these are among the most widely used architectural concrete masonry units (CMU), one is truly textured for the face can be treated as an object of paint. The object is found to have been cracked or cut by hand to give it a textured appearance. However, in practical construction, concrete is poured as a preformed paste.
Split-faced hollow concrete blocks are thermally efficient, fire resistant and sound absorbing which makes them ideal in construction non-residential projects including municipal buildings, schools and playgrounds. Besides, it can be used as a load bearing walls or veneers that well with other architectural block finishes can be blended, especially in non-residential and non-residential applications. Smooth-faced concrete is expected to grow at a CAGR of 4.8% during the forecast period owing to increasing demand in residential and non-residential application segments. Produced under a slope of completion smooth on all sides of the blocks. These pieces can be used in both exterior and interior applications and feature an excellent natural finish.
Global Hollow Concrete Block Market By Application, 2023 (%)
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Hollow Concrete Block Market Regional Insights
North America hollow concrete block market will dominate, owing to rise in construction and maintenance activity which fuels the growth of the market in this region. North America is the second largest region in this market. It is estimated to reach an expected value of US$190 billion (about $580 per person in the US) by 2030 at a CAGR of 4.5%. Due to increased construction and renovation activity in the area. Furthermore, increasing demand for housing coupled with increased government subsidies for residential construction in U.S.-owned countries is expected to boost growth. and Canada including in the hollow concrete market in the residential use segment will significantly benefit.
Asia-Pacific market is expected to grow rapidly from 2024 to 2031. This is due to the easy availability of cheap concrete raw materials and skilled labor, which incurs transportation and construction costs. The emergence of the hollow concrete block market is the fastest growing market within Asia-Pacific. The Asia-Pacific region includes China, India, Bangladesh, Pakistan, Indonesia and Thailand, which are among the most populous countries in the world. A faster growth rate is observed as foreign investment in technology increases. For example, according to the National Bureau of Statistics (N.B.S.), by the end of 2020, China’s investment in infrastructure grew by 2.9% annually, and 0.4% in the period from January to July of the same year.
Global Hollow Concrete Block Market By Region, 2024-2031
- Largest
- Fastest
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Hollow Concrete Block Market Dynamics
Drivers
- Growing Demand for Lightweight, Durable and Reliable Building Materials
The hollow concrete is lightweight in nature, reducing the overall weight of the structures. Consequently, R.C.C. building. Furthermore, hollow concrete is very durable because the concrete used in production is compacted under high pressure and vibration, which provides high strength for the free block plus adequate curing for the block's strength as it pulls it upwards.
Restraints
- Spending Barriers
While hollow concrete has many advantages such as light weight, fire and water resistance, earthquake resistance, and easy and quick installation, concrete costs more expensive than brick and traditional uses continue to evolve, affecting regional variations, including infrastructure and transportation costs. Being an environmentally friendly option, it saves on energy costs. However, the cost savings will offset the economic benefits of energy cost savings. This is because hollow concrete structures are more expensive than traditional mud bricks. Moreover, the load carrying capacity of these concrete composites is lower than that of reinforced concrete, clay or brick, thus restraining the growth of the market.
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Hollow Concrete Block Market Competitive Landscape
The competitive environment of the global Hollow Concrete Block market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
- 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
- MIDLAND BRICK
- Tristar Brick and Block Ltd
- Xella Group
Recent Developments
- February 2022: Bharti Cement Corporation Pvt. Ltd., a group company of VICAT France. inaugurated a massive 0.75 MTPA cement installation in Coimbatore. The company also launched ‘QUICKCEM’ green cement to handle precast and hollow blocks in Tamil Nadu and Kerala.
- January 2021: Al Weher starts a new single-pallet factory with its Zenith 1500 single-pallet machine with the help of Zenith Maschinenfabrik. The company can produce 30,000 hollow blocks or 2500 square meters of rectangular paver face mixed with concrete in an 8-hour shift.
- June 2021- Oldcastle A.P.G., a CRH subsidiary, manufactures stone and hardscape products in the mid-Atlantic region of the United States and acquires an EP. The acquisition helps the company expand its manufacturing and distribution facilities and strengthens its position in the building materials and masonry markets.
Hollow Concrete Block Key Market Trends
Rising Widespread Use of Hollow Concrete Blocks
- The tremendous growth in the construction industry and widespread use of hollow concrete for construction of residential, commercial and industrial areas represents one of the major factors to drive the market growth across the globe. These walls are used for carrying loads in buildings to provide structural support and to support standing loads. They are stacked and bound with mortar, creating strong, sturdy walls. It is also used in fence construction to provide privacy and security. Furthermore, increasing renovation and development projects in restaurants, metro stations, cafes, resorts, homes, hotels, offices, malls, airports and educational institutions contribute to the growth of the market.
Hollow Concrete Block Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Hollow concrete blocks as compared to solid concrete blocks require less maintenance and provide better thermal sound. These properties encourage simpler and faster construction of buildings and infrastructure also at reduced cost, which in turn is expected to boost the demand for the product. Hollow concrete blocks especially in residential buildings and housing non-residential such as load bearing structures, low-rise, institutional buildings, office buildings, warehouses, rural buildings. The hollow concrete block used in the units has a continuous end and provides high dimensional accuracy making it an ideal building material for partition walls and load bearing structures. This type of hollow concrete is environmentally friendly and lightweight and is also used for construction in earthquake prone areas.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 247.14 billion |
| Market size value in 2031 | USD 390.02 billion |
| Growth Rate | 5.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hollow Concrete Block Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hollow Concrete Block Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hollow Concrete Block Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hollow Concrete Block Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hollow Concrete Block Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hollow Concrete Block Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Hollow Concrete Block Market Report Snapshots
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