Hollow Concrete Block Market Overview
The Hollow Concrete Block Market Size is estimated to register a USD 4,87,269.10 million CAGR of more than 2.60% globally during the forecast 2021-2030.
The hollow concrete block market covers more than 25% of the area. The value of the hollow concrete block market witnesses the highest growth due to certain fuel factors. The major fuel reason is the increasing investment in construction and urbanization. The rising construction activities have fueled the market all around the world.
Along with that, the increasing demand and development of research and manufacturing also hike the process. The pandemic covid-19 has made so many differences in the market. The government has imposed several rules on the key players and the industrialist. During the lockdown, the industry focused on innovations to attract participants. However, the market share is expected to hike in the long term because of the other chemical sectors & other industries.
Recently, a sudden rise in the construction of buildings and the development of sustainable raw materials with synthetic sand has surged the hollow concrete block market revenue. The construction of stronger block buildings has made certain possibilities in the industry. Apart from that, low-cost products and lightweight materials allow the industry to generate more revenue in the upcoming periods.
Similarly, certain restraint factors hinder the growth of the target market of hollow blocks. The market undergoes various challenges, but it is again pushed back to its normal position by expert key players. These hollow concrete blocks facilitate the construction process by lowering the amount of time and minimizing manpower. These blocks are available in various forms and sizes that retain the structural value of any building.
The global hollow concrete block market is divided into segments based on product type, region, and application. The market has been segmented into Split-faced & Smooth-faced Concrete Blocks based on the product type.
Based on the application, the hollow concrete block market is segregated into Residential, Commercial, and Industrial. As per the region, the market has been segmented into North America, Europe, Asia – Pacific, and the Rest of the World (ROW).
Regional segmentation of the market:
The global hollow concrete block market is divided into regions covering North America, Asia-Pacific, Europe, and the Rest of the World (ROW). The Asia Pacific region had the greatest CAGR market share growth in 2018, which is predicted to develop rapidly in the upcoming period. This region has expanded its growth due to the constant building and the construction industry rise. The rising number of infrastructure construction projects in both public and private sectors also emerges the industry market share. After the Asia Pacific region, the countries like China and India hold the next rank along with North America.
The concrete block manufacturing industry has recently boomed in Bangladesh. Recently the market has launched a new generation of building blocks, which are cheaper and eco-friendly. The recent market size of the block industry is Tk 90 billion, and the market has grabbed the share of Tk 2.0 billion. The business groups like BTI, Concord, Mir Group, and Meghna are the highest market leaders who have recently proposed 20 percent of the concrete-block market.
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Midland Concrete Products
CEMEX S.A.B. de C.V. (Mexico)
CRH plc (Ireland)
Acme Brick Company (US)
Brampton brick (US)
Taylor Concrete (US)
Tri-Star Brick & Block LTD (US).
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