Market Highlights
The tremendous growth of the commercial sector and the demand for innovative ways to design commercial buildings are expected to raise the demand for hollow concrete blocks, globally. Moreover, the increasing investments in the commercial real estate and rising demand for green buildings and lightweight materials for modern architecture are expected to drive the global hollow concrete block market. The rapid construction of commercial and residential buildings in emerging countries, such as China, India, and South Korea, is one of the major factors driving the global hollow concrete block market. Manufacturers in the market are taking advantage of the opportunities in the global market by adopting key strategies, such as investments and regional expansions, to increase their market share. However, fluctuating raw material prices are expected to hinder the hollow concrete blocks market.
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Asia-Pacific is anticipated to witness the highest growth in the global hollow concrete block market during the forecast period: MRFR
Geographically, the global hollow concrete block market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific held the largest global market share in 2018, which is expected to exhibit the highest CAGR of ~5%, owing to the growing construction industry coupled with increasing consumer spending on lightweight materials for modern architecture. China has emerged as a lucrative market in this region, owing to the presence of a vast customer base.
The commercial application segment is expected to account for the largest market share in the global hollow concrete block market during the forecast period: MRFR
The commercial application segment held the largest share in the global hollow concrete block market. This is attributed to the widespread use of hollow concrete blocks products in commercial buildings that include commercial complexes, hotels, malls, and gyms, especially in developing countries, such as India, China, and Brazil.
Key Players
Some of the prominent players in the global hollow concrete block market are Taylor Concrete (US), Brampton brick (US), CRH plc (Ireland), CEMEX S.A.B. de C.V. (Mexico), Midland Concrete Products, Inc. (US), McNear Brick & Block (US), Columbia Block & Brick (US).
Scope of the Report
This study provides an overview of the global hollow concrete block market, tracking two market segments across four geographic regions. The report studies key players and provides a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world (RoW). The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global Hollow Concrete Block Market by product, application, and region.
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By Product
Split-faced concrete blocks
Smooth-faced concrete blocks
By Application
Residential
Commercial
Industrial
By Region
North America
Asia-Pacific
Europe
Rest of the World
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