Hollow Concrete Block Market Analysis | 2023-2028

Market Insights

The hollow concrete block market was estimated at USD 234.5 billion in 2022 and is likely to grow at a CAGR of 4.9% during 2023-2028 to reach USD 314.6 billion in 2028.

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Market Dynamics

Due to increased investments in construction and urbanization, the value of the hollow concrete block market is anticipated to develop rapidly over the forecast period. As a result, there will be a rise in construction activity and a consequent rise in demand for hollow concrete blocks globally. It is anticipated that leading manufacturers will raise their research and development efforts in order to come up with innovative designs and dependable procedures, which will drive the hollow concrete block market.

One of the crucial factors influencing the growth of the industry favorably and propelling it to a growing side is the higher durability of hollow concrete blocks, which would help the manufacturing industry use it and subsequently lead to the construction of a stronger block of building, as required. The industry will grow rapidly during the forecast period owing to the product's affordability and portability.

Every industry, including the hollow concrete block market, was impacted by the COVID-19 pandemic. COVID-19 had a negative impact on the world economy, which has affected the growth of the global hollow concrete block market and hindered revenue generation.  However, the market for hollow concrete blocks is expected to rise in the coming years. Growth in consumer demand for green buildings, along with advancements in raw sustainable materials sediments and synthetic sand, has recently led to an increase in demand for hollow concrete blocks and has been shown to be the primary driver in the hollow concrete block market value.

Segments Analysis

By Product Type

The hollow concrete block market is segmented into split-faced concrete blocks and smooth-faced concrete blocks. The split-faced product type will dominate the market, it will also be the faster-growing product type. Commercial projects like municipal structures, schools, and theatres are built with split-faced hollow concrete blocks. They are also employed as load-bearing walls or veneers, which fit in well with other architectural block treatments, particularly in non-residential or commercial settings. 

By Application Type

The hollow concrete block market is segmented into residential, commercial, and industrial. Due to the extensive use of hollow concrete blocks in residential buildings and renovation, the residential segment is expected to be the dominant segment in the coming years. To support a building and other structural surfaces within and outside of a home, hollow concrete blocks are used in construction to make floors, walls, footers, and foundations.

Regional Insights

In terms of regions, Asia-Pacific is expected to remain the largest market for hollow concrete blocks during the forecast period, as a result of initiatives like the refurbishment and rehabilitation of existing structures, investments in the building and construction sector have increased, driving the demand for hollow concrete blocks in the region. In addition, growing public and private sector investments in infrastructure construction projects in developing nations such as China and India are anticipated to open up opportunities in the Asia-Pacific’s hollow concrete block market.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the hollow concrete block market.

• CEMEX S.A.B. de C.V
• Xella Group
• Brampton Brick
• MIDLAND BRICK
• Taylor Concrete Products Inc.

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hollow concrete block market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The hollow concrete block market is segmented into the following categories:

By Product Type

• Split-Faced Concrete Blocks
• Smooth-Faced Concrete Blocks

By Application Type

• Residential
• Commercial
• Industrial

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.