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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.