Concrete blocks, on average, have a core void area a bit larger than 25% of the gross area. Concrete blocks are substitutes for conventional bricks and stones in building construction. They are manufactured using sand, aggregates, cement, and also water. The hollow concrete blocks are manufactured using cement, sand, aggregates, and water. They are used to manufacture floors, walls, and structures inside and outside of the construction projects. The product is likely to be a substitute for common burnt clay bricks, concrete bricks, fly ash clay bricks, sand-lime bricks, and concrete bricks on account of its superior performance. These blocks aid easy construction process, thus reducing the overall time and labor required for the construction activity.
COVID-19 scenario analysis :
COVID 19 Scenario
The COVID-19 has extremely affected the economy in the world in a negative wat, hence the global hollow concrete block market also got affected abruptly and experienced a slowdown in the generation of revenue. There were strict regulations by governments of various countries, which caused reduction in demand for hollow concrete block in the current scenario. Furthermore, industries are focusing on innovations during the lockdown situation, such that it could help gain attention of majority of the players during the forecast period.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The key factors affecting the industry include higher durability of hollow concrete block, which would help the manufacturing industry to take advantage of it, and hence lead to construction of a stronger block of building, as required. The other advantage of the product include, the light weightiness and low cost of the product, would help the industry gain higher revenue in the forecast period. This would boost the industry in the next few years. Furthermore, concrete masonry units, blocks helps consume less amount of cement, thus are easy to handle, which makes them user-friendly. The growth in the demand for lightweight materials in modern architecture is anticipated to fuel market growth in the next few years.
The global hollow concrete block market trends are as follows:
Surge in foreign direct investment to boost the hollow concrete block market
The boost in the Foreign direct investment (FDI) inflows into India in the first five months of 2020-21 has flourished in the forecast period. Furthermore, it was observed to hit a high record. However, a sharp 60% contraction in the first quarter, with July and August raking in over $20 billion of equity FDI. The companies are trying to bring up innovations such that there is an increased demand for the hollow concrete block market.
Additionally, total FDI inflows have propelled in a positive pace from $11.51 billion between April and June to $35.73 billion by the end of August. Equity FDI was seen to be more than quadrupled from $6.5 billion between April and June, to $27.1 billion by August, 16% higher than the first five months of 2019-20. To put that in context, India received about $50 billion in equity FDI in 2019-20. This would help the hollow concrete block to help propel in the coming years.
Surge in demand for construction sector to boost the hollow concrete block
The boom in the demand for the hollow concrete block to be utilized for the smart cities, which is an initiative created by the government of various developing and developed countries is anticipated `to propel the industry in the coming years. The key players are focusing on providing such hollow concrete blocks lines in their vertical which would help the industry fuel in the next few years.
For instance, the need for the smart cities where in the key programs included urban renewal and the retrofitting program by the government of India with the mission to develop smart cities across the countries, which would make them citizen friendly and sustainable. This is anticipated to boost the demand for the hollow concrete block market during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the global hollow concrete block industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hollow concrete block market share.
- The current market is quantitatively analyzed to highlight the global hollow concrete block market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global hollow concrete block market analysis based on competitive intensity and how the competition will take shape in coming years.
Hollow Concrete block Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Region |
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 Key Market Players | UltraTech Cement Ltd, Tristar Brick and Block Ltd, Taylor Concrete Products Inc., Magicrete Building Solutions Pvt. Ltd, Acme Brick Company, CEMEX SAB de CV, Brampton Brick, MIDLAND BRICK, CRH plc, Xella Group |
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