Concrete Blocks and Bricks market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Concrete Blocks and Bricks Industry Hit Worst due to Russia-Ukraine War Impact?
The global concrete blocks and bricks market size will spike during the forecast period owing to the rising frequency of natural disasters. Fortune Business Insights™ shares this information in its report titled “Concrete Blocks and Bricks Market, 2021-2028.”
Natural disasters, such as earthquakes and floods, have been growing in frequency and intensity over the past few decades. According to the Munich Reinsurance Company, insured natural disaster losses of human lives and properties have doubled since 1980. The main reason for the increasing occurrence of such calamities is the worsening effects of climate change, along with rampant development activities with utter disregard for nature. As a result, the demand for climate-resilient constructions has heightened in recent years, forcing companies to develop effective solutions. Concrete blocks and bricks are a result of this rapidly growing necessity worldwide. These materials are prepared by using fly ash, lime, and clay and are economical compared to conventional bricks and blocks. Due to their structural strength, these bricks protect buildings as they are able to withstand the harshness of storms, earthquakes, and other disasters.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Concrete Blocks and Bricks market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Concrete Blocks and Bricks market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
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.
By type, the market is segmented into cement blocks and bricks. Based on application, it is segregated into commercial constructions, residential constructions, and industrial constructions. The market is geographically distributed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report supplies a tangible analysis of all segments of the market, as well as provides a granular examination of all factors driving and restraining the market. Additionally, the report comprehensively profiles and evaluates the top market players and their strategies and shares valuable insights into the regional developments influencing the market growth.
Drivers and Restraints
Exponential Growth of Urban Agglomerates to Propel the Market
Countries around the globe are developing their urban infrastructure that is environment-friendly and can stand strong against damaging calamities, whether natural or manmade. Concrete blocks and bricks can effectively aid the transformation of cities into sustainable living units and the prolific expansion of urban areas will further bolster these trends. According to the UN’s Department of Economic and Social Affairs, by 2050, roughly two-thirds, or 68%, of the global population will reside in cities and other urban spaces, with 90% of this growth expected to be witnessed in Asia and Africa. As more people get added to metros and cities across the globe, the need for sustainable and climate-resilient infrastructure will inevitably heighten, stoking the growth of this market, particularly in developing economies.
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Robust Infrastructure Development in the Asia Pacific to Influence Market Growth
The Asia Pacific region will dominate the concrete blocks and bricks market share because of intensifying construction activities due to the rapidly increasing population of India and China. The countries are focusing on developing infrastructures to accommodate their rising populations and expanding economic activities.
North America is the second-largest market for concrete blocks and bricks because of rising per-capita incomes and heavy public and private investments in the construction of residential complexes. Europe is expected to exhibit a substantial incline in its construction industry and is expected to propel market growth in the upcoming years.
Key Players to Expand Reach by Acquisition of Several Companies
The market’s key players have expanded their reach in the global market by acquiring several companies. For example, Midwest Blocks and Bricks acquired multiple companies, including Basic Block Group LLC, Chandler Materials Company, Kenco Enterprise, and others, in September 2016 to amplify its reach across states. Further, companies partner with each other for specific ventures to improve production activities and boost product quality. To improve their brand presence globally, several companies are engaged in the creation of innovative products.
January 2020: CEMEX signed an agreement for selling its assets with a UK-based company named Breedon.
List of Key Players Covered in the Concrete Blocks and Bricks Market Report
- CRH plc
- Boral Limited
- UltraTech Cement Ltd.
- Cemex S.A.B. de C.V.
- LCC Siporex Company
- Midwest Block and Brick
- Magicrete Building Solutions Pvt. Ltd.
- Midland Concrete Products, Inc
- Brickworks Limited
- General Shale, Inc.
- Xella Group
- Acme Brick Company
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