Hollow Concrete Block Market to Witness Comprehensive Growth by 2027
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.
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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.
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.
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