Market Size of GCC Concrete Blocks Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC Concrete Blocks Market Analysis
The GCC concrete blocks market is expected to register a CAGR of over 5% during the forecast period 2022-2027.
The COVID-19 pandemic has had a major impact on the residential sector and disrupted the business of developers and manufacturers of construction projects. The COVID-19 pandemic led to negative consequences in the concrete block manufacturing market, where manufacturers are now making strategic decisions to offset losses from 2020. Most cement companies have continued to operate during the outbreak, mainly focusing on complying with safety and health requirements.
- Over the short term, factors driving the GCC concrete blocks market are increasing demand in the commercial segment and using concrete blocks in infrastructure. Furthermore, businesses are investing money to improve their product portfolio, which, in turn, will help in their market growth.
- However, the fluctuating cost of raw materials to manufacture concrete blocks and the high cost of building homes are likely to slow down the market growth and hinder the expansion of the studied market.
- Nevertheless, the growing consumer awareness for lightweight materials in modern buildings and construction will likely create lucrative opportunities for the concrete block market during the forecast period.
