Hollow Concrete Blocks Market Size, Share & Trends Analysis Report By Product (Split-faced, Smooth-faced), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2023 - 2030

Hollow Concrete Blocks Market Growth & Trends

The global hollow concrete blocks market size is expected to reach USD 371.78 billion by 2030, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Hollow concrete blocks are primarily used in residential and non-residential buildings such as load-bearing structures, low-rise residential, institutional buildings, office buildings, warehouses, and shelter units for rural housing.Additionally, these blocks have a consistent finish and offer high dimensional accuracy which makes them an ideal building material for building partition walls and load-bearing structures.

A rise in technological advancements in concrete and construction activities offers feasible solutions for building rigid and durable structures. Moreover, the growing need for long-lasting building structures coupled with less maintenance of the structures is likely to upscale the demand for hollow concrete blocks over the coming period.

Key global manufacturers are focusing on producing low-cost and high-quality concrete blocks to meet rising consumer demand. However, the product pricing depends upon the type of hollow concrete block used as per the application which includes concrete stretcher blocks, lintel blocks, and partition concrete blocks. For instance, partition concrete blocks are used specifically for building partition walls, while lintel blocks are primarily used on the top of the portion of doors and windows.

The top market players are investing heavily in research and development activities to develop low-cost and high-value products. The regulatory guidelines which promote green and energy-efficient buildings are expected to drive the product demand for the market. With the increase in focus on eco-friendliness and energy efficiency, companies are investing in the development of green building products.

Split-faced was the dominant product segment owing to its rough and hand-chiseled-like surface allowing better bonding between the surface and the mortar in the residential and non-residential application segments.In addition, they are used as load-bearing walls or veneers that can blend well with other architectural block finishes, especially in non-residential or commercial applications.

The Asia Pacific is anticipated to remain a key driving region for the hollow concrete block industry owing to the increasing construction in the residential and non-residential application segments. In addition, the abundant availability of construction materials including cement and aggregates in countries including China and India is expected to lower the raw material procurement cost. This in turn reduces the overall cost of the product in the region, thereby attracting end-user to utilize hollow concrete blocks in place of other materials including clay bricks and solid concrete blocks.

The value chain for hollow concrete blocks is inclusive of raw-material suppliers, concrete block manufacturers, distributors/suppliers, and end-users. Value addition at each stage mentioned results in a price hike for the products. This includes raw material prices, handling charges, specialized transportation, supplier charges, taxes, and labor charge.

Hollow Concrete Blocks Market Report Highlights

• Split-faced hollow concrete blocks were the largest and fastest growing market segment and accounted for 63.1% of the revenue share in 2022 as these are one of the most non-residentially used architectural concrete masonry unit (CMU) finishes. The product appears to have been split or hand-chiseled to give it a textured look. However, practical manufacturing includes pouring the concrete slurry into a form with the texture already build into it
• Smooth-faced hollow concrete blocks are the most commonly used concrete blocks in both residential and non-residential application segments. They are fabricated under molds that result in a smooth finish on all sides of the block. These blocks are used in both exterior and interior applications and exhibit a fine natural finish
• The use of hollow concrete block products including split-faced and smooth-faced concrete blocks in residential construction is widely popular in North American and European countries owing to the matured construction market. However, the Asia-Pacific region has adopted the construction material at a much faster rate owing to the product’s cost-effectiveness. superior strength, excellent durability, and an easy installation process that is projected to promote its application in the residential sector
• The non-residential application segment includes the construction of commercial, infrastructure, and industrial sector buildings. The hollow concrete block walls used in the commercial building are manufactured off-site, which helps in saving time and space. In addition, the speed and ease of building hollow concrete walls promote its application in parking and shed structures.
• Key players in the market include CEMEX SAB de CV, CRH plc, UltraTech Cement Ltd, and Brampton Brick Ltd. These companies cater to a majority of the stake in the market owing to their widespread presence in the value chain. The companies are vertically and horizontally integrated throughout the value chain. As a result, the product manufactured by the companies is of premium quality due to their in-house cement and concrete manufacturing. These factors provide an edge over its peers which are present in the market.

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