DUBLIN, July 29, 2021--(BUSINESS WIRE)--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.
Bowerston Shale Co.
Columbus Brick Company
General Shale Brick Inc.
Palmetto Brick Company
Triangle Brick Co.
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.
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
5 MARKET SEGMENTATION
5.1 By Brick Type
5.2 By Application
5.3 By Geography
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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/rtefmk
View source version on businesswire.com: https://www.businesswire.com/news/home/20210729005832/en/
Laura Wood, Senior Press Manager
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