CLEVELAND, Aug. 16, 2021 /PRNewswire/ — The popularity of outdoor living will remain a key driver of brick, block, and paver demand gains, especially as the trend’s influence grows in the commercial market in the wake of the pandemic.
Already fast-growing pre-pandemic, interest in outdoor living surged in 2020 as:
- homeowners sought to improve the functionality of their outdoor spaces in order to provide a safe and aesthetically pleasing area to socialize and entertain
- restaurants, bars and other establishments that closed to the public early on in the pandemic invested in improving their outdoor seating options to attract customers upon reopening
The rising popularity of outdoor living will continue to spur a variety of renovation projects in both commercial and residential applications – particularly paved patios, outdoor fireplaces, and retaining walls – many of which will involve the use of bricks, blocks, and pavers.
This impact will be strongest in 2021 as homeowners take on projects – including walkways, backyard gardens, patios, installation of fencing, and entertainment areas – they did not complete in 2020. Nevertheless, rebounding commercial construction activity in the wake of the pandemic will hold longer term growth opportunities for suppliers.
Brick, Block, & Paver Demand to Top $8 Billion in 2025
A new Freedonia Group analysis forecasts US demand for bricks, blocks, and pavers to rise 2.1% annually through 2025, with most gains stemming from price increases. Unit growth will be restrained by:
- increased brick siding competition from other materials (such as fiber cement) that can mimic the brick aesthetic at a lower cost
- declining interest in indoor fireplaces, especially those faced in brick, in newly constructed homes
Demand was already at a high base in 2020, when the residential market was surprisingly strong. While unit sales of bricks, blocks, and pavers will remain elevated into 2022, they will begin to decline from their peak before 2025, dragging down average growth.
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Bricks, Blocks, & Pavers examines the US brick, block, and paver industry by product, market, application, and region. Historical data are provided for 2010, 2015, and 2020, with forecasts for the years 2025 and 2030.
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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SOURCE The Freedonia Group