USD 247.15 Billion
Hollow Concrete Blocks Market Size, Share, Growth Analysis, By Type(Light weight Hollow Concrete Blocks and Normal Weight Hollow Concrete Blocks), By Application(Residential Construction, Commercial Construction, and Infrastructure Development), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2044 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
61
|Figures:
75
Hollow Concrete Blocks Market Insights
Global Hollow Concrete Blocks Market size was valued at USD 247.15 Billion in 2022 and is poised to grow from USD 260.25 Billion in 2023 to USD 393.38 Billion by 2031, at a CAGR of 5.30% during the forecast period (2024-2031).
The global market for hollow concrete blocks is experiencing significant growth due to their numerous advantages over solid concrete blocks. Hollow concrete blocks require less maintenance and offer superior thermal and acoustical insulation. These characteristics not only facilitate easy and rapid construction of buildings and infrastructure but also contribute to cost reduction, thereby driving the demand for these blocks. They find extensive application in both residential and non-residential structures, such as load-bearing buildings, low-rise residential units, institutional buildings, offices, warehouses, and rural housing shelters. With their consistent finish and high dimensional accuracy, hollow concrete blocks are ideal for constructing partition walls and load-bearing structures. Moreover, they are environmentally friendly, lightweight, and commonly used in earthquake-prone regions. The United States stands out as a major market for hollow concrete blocks due to its well-developed economy, increasing construction spending, skilled workforce, and emphasis on product innovation through research and development initiatives. The growth of residential and non-residential structures, coupled with the rising preference for single-family homes, positively influences the industry's expansion in the country. Prominent companies involved in hollow concrete block production include Acme Brick Company, Brampton Brick, Magicrete Building Solutions Pvt. Ltd, MIDLAND BRICK, and Taylor Concrete Products Inc. These manufacturers distribute their products through various channels, including third-party agreements with wholesalers and vendors, direct supply agreements with construction companies, and e-commerce portals. Some players, such as CEMEX SAB de CV, CRH plc, and UltraTech Cement Ltd, also possess transportation facilities to handle distribution operations. The lightweight nature of hollow concrete blocks reduces the overall weight of structures, resulting in lower steel or light member structure requirements for reinforced concrete buildings. These blocks exhibit high durability due to the compaction of concrete using high pressure and vibration, enhancing their strength. Furthermore, appropriate curing enhances their compressive strength. However, the cost of hollow concrete blocks is higher compared to traditional bricks. The price of concrete fluctuates due to factors like regional variations, raw material costs, and transportation expenses. Although hollow concrete blocks offer energy-saving benefits, the economic advantage achieved through energy cost savings is partially offset by the higher construction costs associated with these blocks when compared to conventional clay bricks.
US Hollow Concrete Blocks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Normal Weight Hollow Concrete Blocks
Fastest Growth
Normal Weight Hollow Concrete Blocks
Growth Rate
5.30% CAGR
Global Hollow Concrete Blocks Market ($ Bn)
Country Share for North America Region (%)
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Hollow Concrete Blocks Market Segmental Analysis
Global Hollow Concrete Blocks Market is segmented by type, application, and region. Based on type, the market can be segmented into light weight hollow concrete blocks, and normal weight hollow concrete blocks. Based on application, the market is segmented into residential construction, commercial construction, and infrastructure development. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hollow Concrete Blocks Market Analysis by Type
By type, the market can be segmented into light weight hollow concrete blocks, and normal weight hollow concrete blocks. Normal Weight Hollow Concrete Blocks dominated the global market. These blocks are manufactured using normal weight aggregates such as crushed stone or sand, which provide them with higher structural strength. Normal weight hollow concrete blocks are versatile and find extensive applications in both residential and commercial construction projects. They are used for constructing walls, partitions, foundations, and other load-bearing structures.
The fastest growing segment in the hollow concrete blocks market is Lightweight Hollow Concrete Blocks. These blocks are manufactured using lightweight aggregates such as expanded clay, shale, or pumice. Lightweight hollow concrete blocks have excellent insulation properties, making them energy-efficient. They provide better thermal insulation, reducing heat transfer and enhancing the energy efficiency of buildings. This feature is increasingly valued in sustainable construction practices.
Hollow Concrete Blocks Market Analysis by Application
By application, the market can be segmented into residential construction, commercial construction, and infrastructure development. Residential Construction is the dominating segment in the hollow concrete blocks market. This segment encompasses the use of hollow concrete blocks in building residential structures such as houses, apartments, and condominiums. The global population growth and urbanization have led to an increased demand for housing units. Hollow concrete blocks are extensively used in residential construction due to their affordability, durability, and ease of installation.
The fastest growing segment in the hollow concrete blocks market is Infrastructure Development. This segment includes the use of hollow concrete blocks in the construction of infrastructure projects such as bridges, roads, tunnels, and public works. Many governments worldwide are focusing on infrastructure development to improve transportation, utilities, and public services. Hollow concrete blocks are integral to these projects due to their strength, durability, and ability to withstand heavy loads, making them a crucial component in infrastructure construction.
Global Hollow Concrete Blocks Market By Type, 2022 (%)
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Hollow Concrete Blocks Market Regional Insights
The dominating region in the global hollow concrete blocks market is North America. This region, particularly the United States, holds a significant share in the market. The dominance of North America can be attributed to several factors. Firstly, the region boasts a highly developed economy, leading to substantial construction spending and a robust demand for building materials. The United States, in particular, has a well-established construction industry, driving the demand for hollow concrete blocks.
The fastest-growing region in the global hollow concrete blocks market is Asia Pacific. This region is experiencing rapid urbanization, population growth, and increasing construction activities, which are driving the demand for building materials, including hollow concrete blocks. Countries such as China, India, and Japan are witnessing substantial infrastructure development and construction projects, which are fueling the growth of the market.
Global Hollow Concrete Blocks Market By Geography, 2024-2031
- Largest
- Fastest
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Hollow Concrete Blocks Market Dynamics
Hollow Concrete Blocks Market Drivers
Increasing focus on sustainable construction practices
- One significant driver fueling the growth of the global hollow concrete blocks market is the increasing focus on sustainable construction practices. As environmental concerns continue to rise, there is a growing demand for eco-friendly building materials. Hollow concrete blocks, being lightweight and environmentally friendly, align with these sustainability goals. Governments and organizations worldwide are promoting the use of such materials, leading to higher adoption rates. This driver is pushing the market forward as more construction projects prioritize the use of hollow concrete blocks over conventional alternatives.
Hollow Concrete Blocks Market Restraints
Fluctuating cost of concrete
- A notable restraint hindering the growth of the global hollow concrete blocks market is the fluctuating cost of concrete. The price of concrete is subject to various factors, including regional variations, raw material costs, and transportation expenses. These fluctuations can significantly impact the overall cost of hollow concrete blocks, making them less cost-effective compared to traditional bricks. The uncertainty surrounding concrete prices creates challenges for manufacturers and can limit the adoption of hollow concrete blocks, particularly in price-sensitive markets.
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Hollow Concrete Blocks Market Competitive Landscape
The global hollow concrete blocks market is characterized by a mix of established and emerging players. Companies in this market focus on product innovation, quality, and cost-effective manufacturing processes to gain a competitive edge. They utilize various distribution channels, including third-party agreements, direct supply agreements, and e-commerce portals, to reach customers effectively. Additionally, transportation facilities are employed by some players to streamline distribution operations. With increasing demand for hollow concrete blocks, competition among manufacturers is expected to intensify, driving further advancements in the industry.
Hollow Concrete Blocks Market Top Player’s Company Profiles
- Acme Brick Company (US)
- Brampton Brick (Canada)
- Magicrete Building Solutions Pvt. Ltd (India)
- MIDLAND BRICK (Australia)
- Taylor Concrete Products Inc. (US)
- CEMEX SAB de CV (Mexico)
- CRH plc (Ireland)
- UltraTech Cement Ltd (India)
- LafargeHolcim Ltd (Switzerland)
- HeidelbergCement AG (Germany)
- Boral Limited (Australia)
- Wienerberger AG (Austria)
- Oldcastle APG (US)
- Forterra Inc. (US)
- Titan America LLC (US)
- Aggregate Industries (UK)
- Vicat SA (France)
- Besser Company (US)
- CSR Limited (Australia)
- Brickworks Limited (Australia)
Hollow Concrete Blocks Market Recent Developments
- In June 2023, Holcim announced a partnership with BASF, a chemical company, to develop sustainable and high-performance concrete solutions using advanced admixture technologies.
- In May 2023, CRH acquired the assets of Forterra Building Products Limited, a leading manufacturer of building materials in the UK, expanding its market presence and product offerings.
- In April 2023, HeidelbergCement launched a new business unit called "HeidelbergCement Ventures" to drive innovation, invest in startups, and explore emerging technologies in the construction materials sector.
- In March 2023, CEMEX Ventures invested in Carbon Clean Solutions, a company specializing in carbon capture technology, to support the development of sustainable solutions for the construction industry.
- In February 2023, LafargeHolcim partnered with Carbon Clean Solutions to develop carbon capture technologies for the cement industry, aiming to achieve carbon-neutral concrete production.
Hollow Concrete Blocks Key Market Trends
- One key market trend in the global hollow concrete blocks market is the increasing adoption of lightweight and high-strength concrete blocks. Manufacturers are focusing on developing innovative hollow concrete blocks that offer enhanced strength while reducing overall weight. These lightweight blocks provide advantages such as improved ease of handling, reduced transportation costs, and increased structural efficiency. Additionally, the demand for sustainable construction practices is driving the use of eco-friendly materials, further promoting the development and utilization of lightweight hollow concrete blocks in the market.
Hollow Concrete Blocks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hollow concrete blocks market, the market is experiencing growth due to their advantages of low maintenance, better insulation, and ease of construction. These blocks find applications in various residential and non-residential structures. North America dominated the market, driven by a developed economy and construction spending. Asia Pacific emerges as the fastest-growing region, fueled by rapid urbanization and infrastructure development. Key drivers include the focus on sustainable construction practices and increasing demand for lightweight and high-strength concrete blocks. However, fluctuating concrete costs pose a challenge. The competitive landscape is characterized by players emphasizing innovation, quality, and efficient distribution channels.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 247.15 Billion |
| Market size value in 2031 | USD 393.38 Billion |
| Growth Rate | 5.30% |
| Base year | 2023 |
| 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 Blocks 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 Blocks 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 Blocks 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 Blocks 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 Blocks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hollow Concrete Blocks 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 Blocks Market Report Snapshots
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