Concrete Block And Brick Manufacturing Market Set To Achieve $588.15 Billion By 2030, Driven By Construction Boom

(MENAFN- EIN Presswire) Concrete Block and Brick manufacturing market Set to Achieve $588.15 Billion by 2030, Driven by construction Boom and Sustainable Innovations

NEW CASTLE, DE, UNITED STATES, December 18, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled,“Concrete Block & Brick Manufacturing Market by Type, Application, End User, and Region: Global Opportunity Analysis and industry Forecast, 2021–2030,”

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The concrete block & brick manufacturing market size was valued at $339.5 billion in 2020, and is expected to reach $558.1 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030. Construction of all infrastructures needs concrete for building purpose. Concrete can be in the form of precast products such as block and bricks. Revenue generated by sales of these products represents the concrete block & brick manufacturing.

Increase in government expenditures for development and reconstruction & repair of infrastructures in various countries leads to increase in demand for concrete precast products & elements. In addition, precast products reduce construction time, which, in turn, saves project cost and timeline. Moreover, these products are cost effective and reduce wastage of raw material. Furthermore, innovation in manufacturing technology boosts production quality and capacity. These factors are anticipated to propel the concrete block & brick manufacturing market Trends.

However, initial investment costs are high to setup concrete precast production facility. In addition, there has been rise in environmental awareness, which has led to the adoption of sustainable and environment-friendly construction material to build houses and offices. Such factors hinder the concrete block & brick manufacturing market growth. Further, the outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to interruption of supply chain, which, in turn, hinders the growth of the market. However, industries are gradually getting back on track and vaccine manufacturing is expected to lead to recovery of the concrete block & brick manufacturing market share by the end of 2021.

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On the contrary, rapid urbanization and industrialization in developing countries has given rise to construction activities, which drives the concrete block & brick manufacturing market opportunities.

The market is segmented into type, application, end user, and region. By type, it is segregated into block and brick. Depending on application, it is classified into structural and non-structural. On the basis of end user, it is divided into residential sector and non-residential sector. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, Bangladesh, Vietnam, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

By type, the block segment was the highest revenue contributor in 2020.
By application, the structural segment was the highest revenue contributor in 2020.
By end user, the residential sector segment was the highest revenue contributor in 2020.
By region, Asia-Pacific generated the highest revenue in 2020.

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The major players profiled in the market include Acme Brick Company, Bauroc AS, Boral, CEMEX, S.A.B. de C.V., CRH, Lignacite Ltd., Midwest Block & Brick, Mona Precast (Anglesey) Ltd., Wienerberger AG, and Xella Group. Major companies in the market have adopted strategies, such as business expansion, acquisition, product launch, and collaboration, to offer better products and services to customers in the concrete block and brick manufacturing industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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