Hollow Concrete Block Market - Global Industry Analysis, Size, Share, Growth, Trends

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Hollow concrete blocks are lightweight concrete masonry units made of aerated concrete. They serve as long-lasting, practical, and economical material in the construction industry. Hollow concrete blocks possess unique properties such as high strength, exceptional fire rating, superior performance, and durability; therefore, they are used as substitutes for several conventional building materials such as concrete bricks, fly ash clay bricks, common burnt clay bricks, and sand-lime bricks. These blocks possess high acoustics and sound insulation and consume less quantity of cement. They lower the need for labor and time required to complete a construction project. Hollow concrete blocks preserve their characteristics, structural values, and efficiency throughout the lifespan of building structures. Increase in demand for lightweight solutions in modern architecture is expected to propel the global hollow concrete block market during the forecast period.

Global Hollow Concrete Block Market: Overview

Rise in popularity of hollow concrete blocks can be primarily ascribed to their performance characteristics. These blocks retain the aesthetic appearance of building structures, since they can be manufactured in uniform sizes and shapes. Hollow concrete blocks feature ideal bonding between mortar and the surface. Hollow concrete blocks provide effective thermal insulation due to the presence of air spaces.

According to the United Nations, the global population is anticipated to surpass 9 billion by 2050. Rise in infrastructural necessities owing to the expanding global population is estimated to boost the demand for hollow concrete blocks during the forecast period. Exceptional strength of these blocks provides high resistance against adverse environmental conditions. For instance, hollow concrete blocks exhibit superior performance during natural calamities including tornado, hurricane, and earthquake. In terms of demand, the hollow concrete block market is estimated to expand significantly in earthquake-prone regions during the forecast period.

Based on application, the global hollow concrete block market can be divided into residential construction, commercial construction, and non-residential construction. High strength of hollow concrete blocks is projected to boost their demand in commercial construction and residential construction segments during the forecast period.

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Global Hollow Concrete Block Market: Regional Outlook

In terms of region, the global hollow concrete block market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to hold major share of the global hollow concrete block market by 2027. Expansion in the residential construction sector in Asia Pacific is likely to drive the hollow concrete block market in the region in the near future. For instance, several initiatives by the Government of India to develop smart cities are expected to provide significant growth aspects for the hollow concrete block market by 2027.

Upcoming mega projects such as Expo 2020 and FIFA World Cup 2022 are anticipated to be major growth indicators for the construction industry in Middle East & Africa in the near future. GCC’s vision to revive regional tourism and infrastructure sectors is likely to boost the overall market in the near future.

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Global Hollow Concrete Block Market: Key Players

Key players operating in the global hollow concrete block market include CEMEX S.A.B. de C.V., Acme Brick Company, CRH plc, UltraTech Cement Ltd., and Xella Group. Industry participants are likely to observe strong competition from alternatives for hollow concrete block such as concrete bricks and clay bricks. Nevertheless, wider acceptance of lightweight materials in modern construction projects is projected to augment the demand for hollow concrete blocks in the near future.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

·         Customer Experience Maps

·         Insights and Tools based on data-driven research

·         Actionable Results to meet all the business priorities

·         Strategic Frameworks to boost the growth journey

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         The Middle East and Africa

Companies in the Hollow Concrete Block market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.