Hollow Concrete Block Market Size, Share, Growth Analysis, By Type(Split-Faced Concrete Blocks, and Smooth-Faced Concrete Blocks), By Application(Residential, Commercial, and Industrial), By Region - Industry Forecast 2024-2031

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.