Dublin, July 29, 2021 (GLOBE NEWSWIRE) -- The "Brick Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The brick market is expected to witness a CAGR of over 3%, during the forecast period. The major factor driving the growth of the brick market is the high demand from the building segment. Moreover, activities, such as urbanization, rapid industrial expansion, government infrastructure projects, are anticipated to escalate the product demand, during the forecast period. Additionally, unfavorable conditions arising due to the sudden outbreak of COVID-19 are restricting the growth of the market studied.
The high consumption area for the brick market is the building segment. With urbanization, rapid industrialization, and focus on developing the infrastructure, the market is expected to propel during the forecast period. Moreover, Asia-Pacific is expected to be the largest market, due to the large-scale production and consumption of brick products in the region.
Key Market Trends
Growing Demand from the Building Segment to Escalate the Brick Market
The global brick market is driven by the factors, including rising urbanization, growing demand for residential and non-residential buildings, and the construction activities to improve and develop the existing infrastructure.
The total expenditure in the building construction sectors across the world generated around 13% of the global GDP and estimated to be worth USD 11 trillion in 2019.
The non-residential construction in the United States was estimated at USD 531.11 billion in 2019, and it is anticipated to be around USD 590.39 billion by 2023.
Saudi Arabia, an oil-rich nation, is planning to shift its economic focus from oil. Therefore, the Saudi government has decided on investing over USD 450 billion in the development of its infrastructure under its Saudi Arabia vision plan 2030. It is expected to positively influence the market studied.
Thus, the aforementioned factors are expected to drive the building segment of the brick market, during the forecast period.
Asia-Pacific to Dominate Brick Market Studied
Globally, Asia-Pacific holds a prominent share in the brick market, and it is expected to dominate the market studied, during the forecast period.
Asia-pacific has seen rapid urbanization in the last few years, as developing countries, like China, India, and Indonesia, from the region are becoming a global hub for several businesses across the world.
Asia-Pacific dominates the construction industry, of which buildings are the major segments across the world, contributing about 46% of the global spending in the construction sector.
The Indian government has made an ongoing declaration of its arrangement, which is incorporating the development of 100 smart cities across the country and developing the infrastructure by investing USD 28.18 billion for the upcoming project.
Thus, the rising demand from various industries is expected to drive the market studied in the region, during the forecast period.
The brick market is fragmented. Some of the players in the market include Acme Brick, General Shale Brick Inc., Brampton Brick, Triangle Brick Co., and Glen-Gery Corporation.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from the Building Segment
4.1.2 Other Drivers
4.2.1 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Brick Type
5.1.2 Sand Lime
5.1.3 Fly-ash Clay
5.1.4 Other Brick Types
5.2 By Application
5.2.4 Other Applications
5.3 By Geography
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Acme Brick
6.4.2 Bowerston Shale Co.
6.4.3 Brampton Brick
6.4.6 Columbus Brick Company
6.4.7 General Shale Brick Inc.
6.4.8 Glen-Gery Corporation
6.4.9 Lignacite Ltd
6.4.10 Meridian Brick
6.4.11 Oldcastle Masonry
6.4.12 Palmetto Brick Company
6.4.13 Supreme Concrete
6.4.14 Triangle Brick Co.
6.4.15 Xella Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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