Market Size of GCC Concrete Blocks Industry
| 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 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 Size Summary
The GCC concrete blocks market is poised for growth, driven by increasing demand in the commercial sector and the use of concrete blocks in infrastructure projects. Despite the challenges posed by the COVID-19 pandemic, which disrupted construction activities and impacted manufacturers, the market is recovering as businesses strategize to mitigate past losses. The market benefits from the rising consumer preference for lightweight materials in modern construction, which presents new opportunities. However, fluctuations in raw material costs and the high expense of building homes may pose challenges to market expansion. The construction industry in the GCC, particularly in countries like the UAE, Kuwait, and Qatar, is experiencing robust growth due to significant investments in remodeling and new projects, supported by government spending.
Saudi Arabia stands out as a key player in the GCC construction sector, with substantial investments in mega-projects and infrastructure developments. The country's Vision 2030 and ongoing reforms are expected to drive further growth, diversifying the economy away from oil dependency. The demand for concrete blocks is bolstered by the need for housing and urban expansion, with numerous construction projects underway. The market is characterized by fragmentation, with major manufacturers like Raknor LLC, Consent Group, and others playing significant roles. Innovations such as Sabic Chemicals' new carbon black grades and Al Kifah Ready-Mix & Blocks' ConGreen products highlight the industry's focus on enhancing concrete quality and reducing carbon footprints, aligning with global sustainability trends.
GCC Concrete Blocks Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand in the Commercial Segment
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1.1.2 Increasing Use of Concrete Blocks in Infrastructure
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1.2 Restraints
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1.2.1 Fluctuating Cost of Raw Materials
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1.2.2 High Cost of Building Homes with Concrete Blocks
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Solid Concrete Blocks
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2.1.2 Hollow Concrete Blocks
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2.2 Application
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2.2.1 Residential
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2.2.2 Commercial
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2.2.3 Infrastructure
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2.2.4 Industrial and Institutional
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2.3 Geography
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2.3.1 Saudi Arabia
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2.3.2 UAE
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2.3.3 Qatar
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2.3.4 Oman
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2.3.5 Rest of GCC
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GCC Concrete Blocks Market Size 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.
