Concrete Block and Brick Manufacturing Market Future Prospects, Growth and Outlook 2020-2030
Concrete Block and Brick Manufacturing Market: Introduction
In terms of volume, the global concrete block and brick manufacturing market stood at 2,054,284.9 million units in 2019 and is anticipated to expand at a CAGR of ~5% during the forecast period. The global concrete block and brick manufacturing market is driven by the increase in demand for concrete block and brick manufacturing in the building & construction industry across the globe. Concrete block and brick manufacturing plays a key role in the construction of commercial, residential, and industrial infrastructure. Blocks and bricks are primarily used as building materials in the construction of walls.
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Key Drivers of Concrete Block and Brick Manufacturing Market
According to a report published by UN in 2017, the global population is estimated to increase from 6.4 billion in 2005 to 8.6 billion by 2030. The construction industry in Asia Pacific is projected to expand at a rapid pace during the forecast period. Residential construction is expected to expand at a sluggish but steady pace in China in the near future. In 2019, the National Development and Reform Commission of the People's Republic of China approved 26 infrastructure projects with total expected investment of US$ 142 Bn. The Government of China plans to diversify its economy by building infrastructure projects in all provinces of the country in order to counter the sluggish economy growth, due to its dependence on exports and the manufacturing sector. This rise in construction activities is boosting the construction industry in Asia Pacific, thereby propelling the concrete blocks and brick manufacturing market in the region. The global construction industry expanded by 3% in 2019 after 3.5% growth in 2018 and 2.7% growth in 2017. The residential segment held major share of the global construction industry in these years. Construction volumes in the U.S. grew +3% y/y in 2018 and +2.1% y/y in 2019. Construction spending growth in 2018 was driven by non-residential and residential sectors. Low unemployment rates, wage improvements, inventories, tax restructure, and decrease in interest rates are factors driving the residential construction sector in the U.S. Thus, increase in construction & infrastructure activities is likely to augment the concrete block and brick manufacturing market in the near future.
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The rise in emphasis on environmental sustainability and eco-friendly green building solutions is expected to drive the concrete block and brick manufacturing market during the forecast period. For instance, autoclaved aerated concrete (AAC) is an eco-friendly green building solution and a major constituent of the concrete block and brick manufacturing market. The primary raw material used for production of AAC is fly ash (approximately 60% by weight), which is an inevitable residual waste of thermal power plants and is available in abundance. On the other hand, manufacture of traditional red bricks depends upon soil, coal, and other sources for fuel. This can act as a driver for the concrete block and brick manufacturing market in the near future.
Weak Tensile Strength of Bricks in Extreme Weather Conditions to Hamper Concrete Block and Brick Manufacturing Market Growth
In extreme winter, horizontal or vertical cracks may occur near the foundation corners of a building. This may damage the structure. Similarly, cracks can occur on the walls during heavy rain and damage the structure. Construction of buildings with concrete bricks is time consuming. However, the filling process using concrete blocks requires less time compared to that of bricks that need extra working force and time. These factors are anticipated to hamper the concrete block and brick manufacturing market in the near future.
Asia Pacific Dominates Concrete Block and Brick Manufacturing Market
In terms of volume, Asia Pacific held major share of the global concrete block and brick manufacturing market in 2019. The region is expected to lead the global concrete block and brick manufacturing in terms of volume and value during the forecast period. Rapid urbanization and rise in demand for concrete blocks are boosting the demand for concrete block and brick manufacturing industry in Asia Pacific. The concrete block and brick manufacturing in Europe is expected to witness significant growth in the near future, owing to various government and private initiatives. Thus, rise in usage of AAC blocks in the building and construction sector in the region is anticipated to drive the concrete block and brick manufacturing market in Europe in the near future. However, Europe’s market share is estimated to decline in the near future due to the rapidly growing market in Asia Pacific.
Of late, North America has been experiencing rapid increase in immigrant population. This has resulted in high demand for housing in the region. This is boosting the demand for concrete block and brick manufacturing in the region. Increase in private investment in Latin America and Middle East & Africa is fueling the concrete block and brick manufacturing market in these regions.