Portland, OR, Sept. 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global concrete block and brick manufacturing market generated $339.59 billion in 2020, and is anticipated to reach $588.15 billion by 2030, manifesting a CAGR of 5.7% from 2021 to 2030. The report presents in-depth information related to the current and emerging concrete block & brick manufacturing market trends and dynamics, key players, and research and developments.
Increase in government expenditures on infrastructure projects, rise in need for short construction time, and cost-effective items are the factors driving the growth of the global concrete block and brick manufacturing market. However, increase in the adoption of environment-friendly material for the construction of buildings creates a major restraint to the market. As far as the opportunities available to the market are concerned, progress in manufacturing technology is turning out to be useful.
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Covid-19 Scenario:
- The recent COVID-19 outbreak has affected industries such as manufacturing, construction, hotel, and tourism. Manufacturing activities of the concrete block and brick manufacturing sector were also stopped or restricted.
- Construction and transportation activities across the globe, along with supply chains were hampered due to pandemics.
- Reduction in manufacturing of cement due to lockdown and closure of factories directly hampered the market growth.
- Industries are opening up gradually and are expected to re-initiation production at full-scale capacities, which is projected to help the global concrete block & brick manufacturing market to recover.
The report offers detailed segmentation of the global concrete block and brick manufacturing market based on type, application, end-user, and region.
Based on type, the brick segment accounted for the largest market share in 2020, contributing to around three-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the concrete block segment is estimated to witness the fastest CAGR of 5.9% from 2021 to 2030.
Get detailed COVID-19 impact analysis on the global concrete block and brick manufacturing market Request here
Based on the application, the structural segment contributed to the largest share in 2020, accounting for more than four-fifths of the global concrete block and brick manufacturing market. However, the non-structural segment is expected to lead the market with the manifestation of the highest CAGR of 6.4% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in 2020, holding more than two-thirds of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, LAMEA is expected to portray the fastest CAGR of 6.7% during the forecast period.
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Leading players of the global concrete block and brick manufacturing market analyzed in the research include Bauroc AS, Mona Precast (Anglesey) Ltd., Boral, CRH, Acme Brick Company, Lignacite Ltd., Midwest Block & Brick, Wienerberger AG, CEMEX, S.A.B. de C.V., and Xella Group.
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