Global Rubbing Bricks Market Analysis, Latest Updates, Data, and News | Russia Ukarine War Impact on Rubbing Bricks Industry
The global rubbing bricks market size is anticipated to reach new heights of growth as a result of the exponential expansion of the construction industry. Fortune Business Insights™ has presented this information in an upcoming report titled, “Rubbing Bricks Market, 2022-2029”.
A recent report by Oxford Economics revealed that in terms of output value, the global construction industry will reach USD 15.5 trillion by 2030, growing at a rate of 85%. This growth will be led by the soaring demand for buildings in India, China, and the US over the next decade. Rubbing bricks are majorly utilized in heavy-duty construction applications, such as cleaning and rubbing down of concrete and rubbing floors. The surge in the demand for the construction of commercial and residential buildings across the globe due to rapid urbanization is a decisive factor of the market’s growth in the forecast timescale.
Impact of Russia-Ukraine War Implication
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
The unprecedented slowdown of economies due to COVID-19 can be witnessed globally. With new mutations emerging frequently, and the questionable efficacy of vaccines, the revenues in this market are likely to shrink in the immediate. Hindered by lockdowns, social distancing, and curfews, the massive disturbances in the operations and the supply chain networks are hampering the rubbing bricks market growth. The severe downturn in construction activities worldwide will also affect the market’s growth trajectory. Our research report’s in-depth analysis will help you gain valuable insights to grow your business through effective decision-making in this niche market.
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On the basis of type, the market segregates into hand rubbing bricks and floor rubbing bricks. Based on application, the market is bifurcated into floor and concrete. By end-use, the market is segregated into residential and commercial buildings. Geographically, the global market is sectioned into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Our research analysts have developed this report using several innovative research methodologies to forecast the development of this market using Porter’s Five Forces Analysis. The report provides a detailed qualitative and quantitative analysis of the market. The information gathered through interviews with multiple stakeholders gives insights into the regulatory scenarios of the niche market. The report also focuses on the recent developments in the market, including the latest technological advancements, mergers, acquisitions, partnerships, etc.
Drivers & Restraints
Rapid Urbanization & Rising Renovation Activities to Drive Market Growth
The extensive application of rubbing bricks in residential buildings and commercial buildings is the foremost growth driver for this market. With increasing urbanization, their deployment is slated to expand rapidly. For example, the UN predicts that nearly 68% of the global population will be housed in urban spaces by 2050. These bricks are easy to handle and serve as a smart and convenient solution for heavy-duty work in the construction industry. The growing demand for the renovation of older constructions and the removal of cracks, faults, and other irregularities in buildings are expected to boost the market’s growth in the future.
However, rubbing bricks, when used excessively on the floor, can lead to crack formation. This factor reduces their use in various applications and can thus hamper market growth.
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Asia Pacific to Witness Highest Market Growth; North America to Make Notable Progress
Asia Pacific is expected to have a commanding hold on the rubbing bricks market share due to the sterling growth of the construction industry in the region. Further, the increasing adoption of novel building materials, such as rubbing bricks, will also help this region to dominate the market during the forecast period.
North America is anticipated to register high market growth on account of the rising demand for sanders in residential buildings. Europe, on the other hand, will experience market growth with the rising utilization of these bricks in commercial buildings.
Development of Novel Offerings by Key Players to Promote Market Growth
This market is moderately concentrated with global and regional players. Top companies are adopting different strategies to maintain a strong foothold in the market and also steadily broaden their business prospects. The market is projected to rise over the horizon with new and innovative methods of making rubbing bricks handier and convenient to use. For instance, Saint-Gobain’s rubbing bricks built-in handle makes it much convenient for quick work on floor jobs, walls, and overhead.
List of Key Players Profiled in the Rubbing Bricks Market Report
- Waldo Bros
- Grainger Inc.
- Zoro Tools Inc.
- Kraft Tool Co.
- ZischeSchleifwerkzeuge GmbH
- Total Tools
- Masons Mortar Ltd
- Contractors Direct
- Precon Products
- Home Hardware Stores Limited
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