Concrete Block & Brick Manufacturing Market Upsurge to Reach $972.0 Billion by 2030
PORTLAND, OR, UNITES STATES, March 15, 2023 /EINPresswire.com/ — Major Companies Profiled in this Research Report:
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 & brick manufacturing.
According to Allied Market Research, titled, 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.
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Drivers of concrete block & brick manufacturing market 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.
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Covid-19 Analysis –
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.
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 – block and brick.
By application – structural and non-structural.
By end user – 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).
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The study of the market players covers the company overview, price analysis, and value chain, along with portfolio analysis of services and products. These players have adopted various strategies such as partnerships, new product launches, joint ventures, and mergers & acquisitions to maintain their foothold in the market.
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