GCC Concrete Blocks Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC Concrete Blocks Market Analysis
The GCC concrete blocks market is expected to register a CAGR of over 5% during the forecast period 2022-2027.
The COVID-19 pandemic has had a major impact on the residential sector and disrupted the business of developers and manufacturers of construction projects. The COVID-19 pandemic led to negative consequences in the concrete block manufacturing market, where manufacturers are now making strategic decisions to offset losses from 2020. Most cement companies have continued to operate during the outbreak, mainly focusing on complying with safety and health requirements.
- Over the short term, factors driving the GCC concrete blocks market are increasing demand in the commercial segment and using concrete blocks in infrastructure. Furthermore, businesses are investing money to improve their product portfolio, which, in turn, will help in their market growth.
- However, the fluctuating cost of raw materials to manufacture concrete blocks and the high cost of building homes are likely to slow down the market growth and hinder the expansion of the studied market.
- Nevertheless, the growing consumer awareness for lightweight materials in modern buildings and construction will likely create lucrative opportunities for the concrete block market during the forecast period.
GCC Concrete Blocks Market Trends
This section covers the major market trends shaping the GCC Concrete Blocks Market according to our research experts:
The Rise in Commercial Segment
- The rise in the commercial segment due to the large-scale consumption of concrete blocks for remodeling and construction activities shall drive market growth.
- In the construction industry, concrete blocks are mainly used to build walls, foundations, and floors to support the building and other structural surfaces outside and inside the house.
- Structural designers and architects design buildings with concrete blocks because of their high structural capacity, resistance to water and fire, and insulating properties.
- The renovation and refurbishing of old buildings have increased investment in the construction industry, which, in turn, has augmented the demand for concrete blocks.
- UAE, Kuwait, and Qatar are registering strong growth in various remodeling and construction activities.
- Also, government spending will play a vital role in boosting the growth of the construction industry. According to Qatar's 2021 budget, new projects worth QAR 54 billion (USD 14.81 billion) were proposed, which will help diversify the economy and develop infrastructure.
- These attributes are expected to witness significant growth in the GCC region over the forecast period.
Saudi Arabia Dominates the GCC Concrete Blocks Market
- Construction is a leading economic sector in the GCC region, whereas Saudi Arabia is the leading investor in the construction business, with over USD 82 billion.
- Saudi Arabia dominated the market attributed of construction projects in the country. Giga projects, transport, and mobility schemes such as the Riyadh Metro, social infrastructure developments such as the Ministry of Housing's Sakani program, and energy mega-projects, such as the state-owned Aramco Berri and Marjan oil fields, shall drive the market growth.
- The Saudi Arabian construction market is anticipated to witness significant growth and offer opportunities due to its Vision 2030, NTP 2020, and several ongoing reforms to diversify away from oil. These factors shall drive the Saudi Arabian construction businesses in the next seven years.
- Currently, the country's economy is entering a post-oil era, in which the kingdom's megacities, which are under construction, will provide future growth. According to industry sources, more than 5,200 construction projects worth USD 819 billion are currently underway in Saudi Arabia. These projects represent approximately 35% of the total value of active projects within the GCC.
- An increase in demand for housing boosts residential construction and fuels the demand for concrete blocks as the growing urban population expands and migrates.
GCC Concrete Blocks Industry Overview
The GCC concrete block market is fragmented in nature. Some of the major manufacturers in the market include Raknor LLC, Consent Group, ESPAC, MJK Group, and MANSOOR CONCRETE BLOCK INDUSTRY LLC (MaCon), among others.
GCC Concrete Blocks Market Leaders
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Raknor LLC
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Consent Group
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ESPAC
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MJK Group
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MANSOOR CONCRETE BLOCK INDUSTRY LLC (MaCon)
*Disclaimer: Major Players sorted in no particular order
GCC Concrete Blocks Market News
- In April 2022, Saudi Arabia-based Sabic Chemicals introduced a new market solution, grade N330 carbon black, to the United Kingdom building and construction industry to improve the quality of cast-in-place concrete structures that require a quick drying process and provide extra strength. Sabic introduced five grades of carbon black in the ASTM 2 and 3 series (N220, N326, N330, N339, and N375) in the GCC.
- In March 2022, Al Kifah Ready-Mix & Blocks (KRB) announced the launch of its ConGreen range of reduced CO2 concrete products. ConGreen products help to clinker with lower carbon materials, such as pozzolana, and use Carbon Cure Technologies of Canada's embedded CO2 recycled technology to reduce the carbon footprint by up to 30% compared to conventional Portland cement (OPC) concretes.
GCC Concrete Blocks Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand in the Commercial Segment
- 4.1.2 Increasing Use of Concrete Blocks in Infrastructure
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4.2 Restraints
- 4.2.1 Fluctuating Cost of Raw Materials
- 4.2.2 High Cost of Building Homes with Concrete Blocks
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Solid Concrete Blocks
- 5.1.2 Hollow Concrete Blocks
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5.2 Application
- 5.2.1 Residential
- 5.2.2 Commercial
- 5.2.3 Infrastructure
- 5.2.4 Industrial and Institutional
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5.3 Geography
- 5.3.1 Saudi Arabia
- 5.3.2 UAE
- 5.3.3 Qatar
- 5.3.4 Oman
- 5.3.5 Rest of GCC
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Aamal Cement Industries
- 6.4.2 Al Amaar Block Manufacturing Co. LLC
- 6.4.3 Al Jazeera Factory For Construction Materials
- 6.4.4 Al Najah Automatic Tiles & Blocks Factory
- 6.4.5 AL RAYYAN BLOCK FACTORY WLL
- 6.4.6 Bucomac Industries
- 6.4.7 Consent Group
- 6.4.8 ESPAC
- 6.4.9 Khonaini International Company
- 6.4.10 MANSOOR CONCRETE BLOCK INDUSTRY LLC (MaCon)
- 6.4.11 MJK Group
- 6.4.12 Raknor LLC
- 6.4.13 Saudi ReadyMix
- 6.4.14 Starlines Block Factory
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Awareness Among Consumers for Lightweight Materials
GCC Concrete Blocks Industry Segmentation
A concrete block is a "building block" composed entirely of concrete, which is then mortared to create an impressive, long-lasting structure. It comes in various shapes and sizes and can be solid or hollow. Concrete blocks are made of cement, aggregate, and water. The ratio of cement and aggregate in concrete blocks is 1:6. The product is used in partition walls due to their quick and easy installation.
The GCC concrete block market is segmented by type, application, and geography. By type, the market is segmented into solid and hollow concrete blocks. By application, the market is segmented into commercial, residential, infrastructure, industrial and institutional. The report covers the market size and forecast for the GCC concrete blocks market in 5 countries across GCC regions. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Type | Solid Concrete Blocks |
| Hollow Concrete Blocks | |
| Application | Residential |
| Commercial | |
| Infrastructure | |
| Industrial and Institutional | |
| Geography | Saudi Arabia |
| UAE | |
| Qatar | |
| Oman | |
| Rest of GCC |
GCC Concrete Blocks Market Research FAQs
What is the current GCC Concrete Blocks Market size?
The GCC Concrete Blocks Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in GCC Concrete Blocks Market?
Raknor LLC , Consent Group , ESPAC , MJK Group and MANSOOR CONCRETE BLOCK INDUSTRY LLC (MaCon) are the major companies operating in the GCC Concrete Blocks Market.
What years does this GCC Concrete Blocks Market cover?
The report covers the GCC Concrete Blocks Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the GCC Concrete Blocks Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
GCC Concrete Blocks Industry Report
Statistics for the 2024 GCC Concrete Blocks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. GCC Concrete Blocks analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
