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 (2024 - 2029) | 5.85 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Concrete Blocks Market Analysis
The GCC Concrete Blocks Market size is estimated at 2.25 Billion units in 2024, and is expected to reach 2.98 Billion units by 2029, growing at a CAGR of 5.85% during the forecast period (2024-2029).
- The growing commercial construction projects in countries such as Saudi Arabia and Qatar are set to drive the demand for the concrete blocks market during the forecast period. With the construction of new cities, the infrastructure sector is expected to drive the demand for concrete blocks.
- However, the high cost of raw materials in the manufacturing of concrete blocks is expected to constrain the growth of the market studied.
- Nevertheless, growing awareness among consumers for lightweight materials is expected to augment the demand for concrete blocks.
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, and industrial & institutional. The report covers the market size and forecast in five countries across the GCC region. For each segment, the market sizing and forecasts are done based on volume (units).
| By Type | |
| Solid Concrete Blocks | |
| Hollow Concrete Blocks |
| By Application | |
| Residential | |
| Commercial | |
| Infrastructure | |
| Industrial and Institutional |
| By Geography | |
| Saudi Arabia | |
| United Arab Emirates | |
| 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 Market 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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1.1.3 Other Drivers
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1.2 Market 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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1.2.3 Other Restraints
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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 By 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 By 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 By Geography
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2.3.1 Saudi Arabia
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2.3.2 United Arab Emirates
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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
How big is the GCC Concrete Blocks Market?
The GCC Concrete Blocks Market size is expected to reach 2.25 billion units in 2024 and grow at a CAGR of 5.85% to reach 2.98 billion units by 2029.
What is the current GCC Concrete Blocks Market size?
In 2024, the GCC Concrete Blocks Market size is expected to reach 2.25 billion units.
