Press release
The hollow concrete blocks market is expected to reach $402.36 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.0%.
• The main factor behind the growth of the market for hollow concrete blocks is their lightweight nature.
• The production method of these blocks creates a structure capable of enduring considerable weight and pressure without deteriorating or giving way, which ultimately fuels hollow concrete blocks market expansion.
• Being lightweight means that less steel is needed for a specific structure, ultimately lowering production costs and enhancing market development.
• Due to their seismic resistance in comparison to other construction materials, there is a growing market demand in regions vulnerable to earthquakes.
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What Are Hollow Concrete Blocks?
A hollow concrete block is a construction material made from cement, water, and aggregates, featuring a hollow core running through its center, which reduces its weight while providing insulation. They are commonly used for building walls, partitions, and other structures due to their durability, fire resistance, and ability to accommodate wiring within the hollow space. They have a solid outer shell with one or more large holes inside, creating a hollow core. They offer a number of benefits, including thermal insulation, cost-effectiveness, lightweight, soundproofing, and ease of installation. They are generally used in load-bearing types of construction of exterior walls, interior walls & partitions, retaining walls, and boundary walls & fences.
Key Players in Market
Acme Brick Company
• Brampton Brick
• CEMEX SAB
• CRH
• Magicrete Building Solutions
• BGC (Australia)
• Taylor Concrete Products
• Tristar Brick and Block
• UltraTech Cement
• and Ublok
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Regional Analysis:
Asia Pacific is projected to witness a faster growth rate over the forecast period owing to strong demand for hollow concrete blocks from applications such as residential and non-residential segments.
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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Segmental Overview:
• The hollow concrete blocks market is segmented based on application, product, and region.
• The market for hollow concrete blocks, based on product, is divided into smooth-faced blocks and split-faced blocks.
• The split-faced segment is anticipated to have the fastest growth over the forecast period. The textured surface of split-faced hollow concrete blocks makes them perfect for exterior & interior walls in commercial structures, retaining walls, and decorative landscaping initiatives.
• The hollow concrete blocks market segmentation, based on application, is made into non-residential and residential.
• The residential segment accounted for the largest market share, driven by the expansion of the construction industry alongside increasing urbanization and population growth.
Hollow Concrete Blocks Market, Product Outlook (Revenue - USD Billion, 2019-2032)
• Split-faced
• Smooth-faced
Hollow Concrete Blocks Market, Application Outlook (Revenue - USD Billion, 2019-2032)
• Residential
• Non-residential
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