Market Size of Hollow Concrete Block Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| 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?
Hollow Concrete Block Market Analysis
The hollow concrete block market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic affected the hollow concrete block market as construction activities were halted. However, the sector has been recovering well since restrictions were lifted. An increase in house sales, new project launches, and increasing demand for new offices and commercial spaces have been leading the market recovery over the last two years.
- The rising demand for the hollow concrete block market due to increasing construction activities globally is expected to drive the market's growth.
- However, the fluctuating cost of raw materials to manufacture hollow concrete blocks is likely to hinder the expansion of the studied market.
- The growing awareness among consumers for lightweight materials in modern architecture is likely to deliver opportunities for the hollow concrete block market over the coming years.
- The Asia-Pacific region dominates the market across the world with the escalating consumption of hollow concrete blocks from countries, such as China, India, and ASEAN Countries.
Hollow Concrete Block Industry Segmentation
A hollow concrete block is a block made of concrete that has hollow spaces between its walls. It is used to build different kinds of walls for different purposes like retaining walls, decorative walls, classic walls, etc. Hollow concrete blocks are made of the same ingredients used in poured concrete walls. The hollow concrete block market is segmented by product type, application, and geography. By product type, the market is segmented into split-faced, and smooth-faced. By application, the market is segmented into residential, commercial, industrial, and other applications. The report also covers the market size and forecasts for the hollow concrete block market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Product Type | |
| Split-faced | |
| Smooth-faced |
| Application | |
| Residential | |
| Commercial | |
| Industrial | |
| Others |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Hollow Concrete Block Market Size Summary
The hollow concrete block market is experiencing a robust recovery following the disruptions caused by the COVID-19 pandemic, which had temporarily halted construction activities. The market is poised for significant growth, driven by increased demand for residential and commercial construction projects globally. The Asia-Pacific region, particularly countries like China, India, and ASEAN nations, is leading this growth due to its expanding housing and infrastructure projects. The market benefits from the advantageous properties of hollow concrete blocks, such as their lightweight nature, cost-effectiveness, and superior insulation and strength characteristics, making them a preferred choice in modern construction. However, the market faces challenges from fluctuating raw material costs, which could impede its expansion.
The residential segment remains the dominant force in the hollow concrete block market, fueled by large-scale construction and remodeling activities. The ongoing refurbishing and renovation efforts, coupled with increased investments in the building and construction industry, are further propelling demand. Government initiatives in various countries, such as China's urbanization plans and India's focus on expanding urban infrastructure, are expected to significantly boost the market. Additionally, the market is characterized by its fragmented nature, with key players like CEMEX SAB de CV, Xella Group, and others actively contributing to its development. The introduction of innovative products, such as green cement by Bharathi Cement Corporation, highlights the industry's commitment to sustainability and meeting the evolving demands of the construction sector.
Hollow Concrete Block Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Growing Demand from Construction Industry
-
1.1.2 Other Drivers
-
-
1.2 Restraints
-
1.2.1 Fluctuating Cost of Raw Material
-
1.2.2 Other Restraints
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Product Type
-
2.1.1 Split-faced
-
2.1.2 Smooth-faced
-
-
2.2 Application
-
2.2.1 Residential
-
2.2.2 Commercial
-
2.2.3 Industrial
-
2.2.4 Others
-
-
2.3 Geography
-
2.3.1 Asia-Pacific
-
2.3.1.1 China
-
2.3.1.2 India
-
2.3.1.3 Japan
-
2.3.1.4 South Korea
-
2.3.1.5 Rest of Asia-Pacific
-
-
2.3.2 North America
-
2.3.2.1 United States
-
2.3.2.2 Canada
-
2.3.2.3 Mexico
-
-
2.3.3 Europe
-
2.3.3.1 Germany
-
2.3.3.2 United Kingdom
-
2.3.3.3 France
-
2.3.3.4 Italy
-
2.3.3.5 Rest of Europe
-
-
2.3.4 South America
-
2.3.4.1 Brazil
-
2.3.4.2 Argentina
-
2.3.4.3 Rest of South America
-
-
2.3.5 Middle-East and Africa
-
2.3.5.1 Saudi Arabia
-
2.3.5.2 South Africa
-
2.3.5.3 Rest of Middle-East and Africa
-
-
-
Hollow Concrete Block Market Size FAQs
What is the current Hollow Concrete Block Market size?
The Hollow Concrete Block Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Hollow Concrete Block Market?
CEMEX S.A.B. de C.V, Xella Group, Brampton Brick, MIDLAND BRICK and Taylor Concrete Products Inc. are the major companies operating in the Hollow Concrete Block Market.
