CLEVELAND, Oct. 22, 2021 /PRNewswire/ -- Rising interest in outdoor living will remain a key driver of residential brick, block, and paver sales through 2025, a new Freedonia Group analysis finds.
- Hardscaping – by far the leading application – is expected to account for 70% of total market gains and will continue to gain market share from other applications as consumers continue to expand and upgrade their outdoor spaces.
- Already a fast-growing trend pre-pandemic, interest in outdoor living spiked 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.
The popularity of outdoor living will continue to spur a variety of home renovation projects going forward, many of which will involve use of bricks, blocks, and pavers. This impact will be strongest in 2021 as homeowners take on projects – including walkways, backyard gardens, patios, fencing installation, and entertainment areas – they did not complete in 2020.
Residential Brick, Block, & Paver Market to Reach $3.7 Billion in 2025
US residential demand for bricks, blocks, and pavers is expected to increase 1.9% annually through 2025, with most gains stemming from price increases. Unit growth will be restrained by:
- brick siding facing increased 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
- the increasing preference for poured concrete for structural applications
Additionally, demand was elevated in 2020, when the market was strong due to housing trends stemming from the COVID-19 pandemic. While unit sales of bricks, blocks, and pavers will remain high into 2022, they will begin to slow from their peak by 2025, dragging down average growth.
Residential Bricks, Blocks, & Pavers examines the US residential market for bricks, blocks, and pavers industry by product, application, market sector, housing type, and region. Historical data are provided for 2010, 2015, and 2020, with forecasts for the years 2025 and 2030 in current US dollars (including inflation) and units.
- fireplace and other applications
- new construction
- renovation and repair
- conventional single-family houses
- multifamily structures (e.g., apartments)
- manufactured housing
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SOURCE The Freedonia Group