Concrete Block and Brick Manufacturing Market Report – key Players, Industry Overview And Forecasts To 2027
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According to TMR, the global concrete block and brick manufacturing market, which in 2016 was valued at 1,837.48 billion, is expected to reach 2769.24 billion units by the end of 2027. Therefore, the market is forecast to steadily rise at a CAGR of 3.8% between 2017 and 2027. Furthermore, the brick segment is predicted in the report to emerge at the fore among products available in the market. As per TMR, the brick segment will showcase 3.5% CAGR during 2017-2027. Regionally, Asia Pacific held lead in the global market in 2016. Going further, the report expects Asia Pacific to remain dominant.
Rapid Urbanization and Increasing Construction Activities in Emerging Nations to Stoke Growth
Growth witnessed in the global concrete block and brick manufacturing market corresponds directly to the expansion of the building and construction industry. The rising investment in residential construction will aid the market’s rise in the coming years and so will the increasing focus on improving the existing infrastructure. Against this backdrop, the rising population will a bearer of lucrative opportunities for concrete block and brick manufacturers.
It is important to note here that concrete blocks are primarily used as building materials or in the construction of strong walls that provide insulation and are less prone to damage. Bricks are also increasingly used as building materials. Spurred by this, the global concrete block and brick manufacturing market will witness a steady rise in operations over the course of the report’s forecast period. The market is also expected to gain impetus from the rapid urbanization witnessed especially across emerging nations. For instance, the rising demand for infrastructural development and changing geopolitics in developing countries will aid the market’s growth in the coming years. Considering this, the inflow of foreign direct investment in construction and manufacturing sectors will bode well for the global concrete block and brick manufacturing market.
Advent of Autoclaved Aerated Concrete Can Limit Growth
On the downside, the market witnesses threat from the advent and the consequently rising acceptance of eco-friendly building materials. For instance, the demand for autoclaved aerated concrete (AAC) has significantly increased over the last few years, which pose challenge to concrete block and brick manufacturers. AAC blocks are derived from non-toxic ingredients and industrial waste that do not emit harmful fumes. This could fuel the demand for AAC in the coming years, in turn restraining the global concrete block and brick manufacturing market.
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This review is based on a TMR report, titled “Concrete Block and Brick Manufacturing Market (Product Type - Concrete Block (Hollow, Cellular, and Fully Solid), Brick (Clay, Sand lime, and Fly ash clay), and ACC Block - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2027.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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