Global Hollow Concrete Block Market is Expected to Grow at 5% CAGR During the Forecast Period, 2019 – 2024.
Market Research Future (MRFR) recently launched an analysis on the global hollow concrete block market. The hollow concrete block market is expected to witness high growth during the forecast period. Such high growth can be accredited to the increase in the investments in the construction industry, coupled with upscaling emergence of urbanization across the globe. Also, increasing consumer preference for green buildings has promoted augmented growth of the global hollow concrete block market over the forecast period.
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Hollow Concrete Block Market Highlights:
Global Hollow Concrete Block Market is Expected to Grow at 5% CAGR During the Forecast Period, 2019 – 2024. 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.
Asia-Pacific is anticipated to witness the highest growth in the global hollow concrete block market during the forecast period 2024
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)
The Bangladesh cabinet approved the Brick Manufacturing and Brick Kiln Establishment Control Amendment Bill 2018. This bill incorporated concrete blocks and hollow blocks as bricks and made it mandatory to obtain a license for the production of bricks.
Detailed Regional Analysis
The global hollow concrete block market is segmented on the basis of region into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific held the largest share of the global hollow concrete block market, garnering 45% of the total share, at the beginning of the forecast period. The regional market is also expected to showcase the highest CAGR during the forecast period. Refurbishing and renovation of old buildings has increased investments in the building and construction industry prevalent in the region. This has contributed to the ascension of the demand for hollow concrete blocks in the region. Further, rising investments in the infrastructural construction projects in the private and public sectors in developing countries such as India and China has proliferated the growth noted by the Asia Pacific’s hollow concrete block market.
North America is anticipated to follow Asia Pacific and hold the second-largest share of the global hollow concrete block market over the forecast period. A major presence of many significant players in the US has led to a notable growth observed by the region’s hollow concrete block market.
- Raw Material Suppliers
- End Users
- Traders and Distributors
- Regulatory Bodies
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.
Browse Complete Report “Hollow Concrete Block Market” Research Report – Global Forecast till 2024
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