The global ready-mix concrete market was valued at $447,981.1 million in 2020, and is projected to reach $704,243.8 million by 2030, registering a CAGR of 4.5% from 2021 to 2030. The proportions of water, additives, aggregates, and cement in ready-mixed concrete (RMC) are predetermined. Each of these materials is combined in quantities according to the standard code to produce necessary durability and strength. Precast concrete is more popular than conventional concrete owing to its convenience, simplicity of use, and quality. Ready-mixed concrete is mainly engaged in the construction of residential and commercial structures, as well as manufacturing and transportation facilities.
Growing demand for diverse building materials and rise in interest in durable construction increases the demand for ready-mixed concrete in the construction sector. Growing population’s expansion and urbanization are also predicted to have a significant influence on the rise in housing, employment, energy, food, clean water, transit infrastructure, and social services demands. As a result, construction businesses are preferring environmentally friendly, low-cost houses and buildings, to assure the highest standards and quality product that precast concrete provide.
Ready-mix concrete, on the other hand, needs a setup to ensure that the materials are mixed in the proper proportions. In that instance, the corporation may be forced to transfer the mixture owing to lack of setup space near the building site. The concrete may settle or lose its workability, which is likely to stymie the ready-mix concrete market's growth as the mixture has a short shelf life of 90 minutes. Similarly, economical and employment issues in different developing countries like Iran, Iraq and Indonesia are expected to indirectly hamper the growth of the market. Furthermore, issues such as lack of transportation and logistics infrastructure, non-tariff barriers to cross-border trade, and low foreign direct investment stifle the region's economic growth, which is predicted to limit the expansion of the ready-mix concrete market. In addition, increased government and private infrastructure expenditures is likely to provide favorable ready-mix concrete market growth for industry players during the forecast period. For example, in January 2019, China invested US$163 billion in the infrastructure sector to combat the economic slowdown. Two major airports and railway terminals are among the new development projects. Similarly, India declared in August 2021 that it will invest more than $1 trillion on infrastructure construction to stimulate economic growth, which is expected to create lucrative opportunities for key market players.
The ready-mix concrete market is segmented on the basis of type, application, mixer type, and region. By type, the market is segmented into transit mix concrete, central mix concrete, and shrink mix concrete. By application, it is divided into commercial & infrastructure, residential, and industrial. By mixer type, it is segmented into volumetric and barrel truck/in-transit mixer. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the ready-mix concrete market include, ACC Limited, Barney & Dickenson, Inc., CEMEX S.A.B. de C.V., CRH plc, HeidelbergCement, Holcim Ltd., SIKA group, Ultra Tech Cement Limited, Vicat SA, and Vulcan Materials Company. Major companies in the market have adopted acquisition, product launch, and partnership as their key developmental strategies to offer better products and services to customers in the ready-mix concrete market.
Growing demand for diverse building materials and rise in interest in durable construction increases the demand for ready-mixed concrete in the construction sector. Growing population’s expansion and urbanization are also predicted to have a significant influence on the rise in housing, employment, energy, food, clean water, transit infrastructure, and social services demands. As a result, construction businesses are preferring environmentally friendly, low-cost houses and buildings, to assure the highest standards and quality product that precast concrete provide.
Ready-mix concrete, on the other hand, needs a setup to ensure that the materials are mixed in the proper proportions. In that instance, the corporation may be forced to transfer the mixture owing to lack of setup space near the building site. The concrete may settle or lose its workability, which is likely to stymie the ready-mix concrete market's growth as the mixture has a short shelf life of 90 minutes. Similarly, economical and employment issues in different developing countries like Iran, Iraq and Indonesia are expected to indirectly hamper the growth of the market. Furthermore, issues such as lack of transportation and logistics infrastructure, non-tariff barriers to cross-border trade, and low foreign direct investment stifle the region's economic growth, which is predicted to limit the expansion of the ready-mix concrete market. In addition, increased government and private infrastructure expenditures is likely to provide favorable ready-mix concrete market growth for industry players during the forecast period. For example, in January 2019, China invested US$163 billion in the infrastructure sector to combat the economic slowdown. Two major airports and railway terminals are among the new development projects. Similarly, India declared in August 2021 that it will invest more than $1 trillion on infrastructure construction to stimulate economic growth, which is expected to create lucrative opportunities for key market players.
The ready-mix concrete market is segmented on the basis of type, application, mixer type, and region. By type, the market is segmented into transit mix concrete, central mix concrete, and shrink mix concrete. By application, it is divided into commercial & infrastructure, residential, and industrial. By mixer type, it is segmented into volumetric and barrel truck/in-transit mixer. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the ready-mix concrete market include, ACC Limited, Barney & Dickenson, Inc., CEMEX S.A.B. de C.V., CRH plc, HeidelbergCement, Holcim Ltd., SIKA group, Ultra Tech Cement Limited, Vicat SA, and Vulcan Materials Company. Major companies in the market have adopted acquisition, product launch, and partnership as their key developmental strategies to offer better products and services to customers in the ready-mix concrete market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ready-mix concrete market analysis from 2020 to 2030 to identify the prevailing ready-mix concrete market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ready-mix concrete market forecast.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ready-mix concrete market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
By Application
- Commercial Infrastructure
- Residential
- Industrial
By Mixer Type
- Volumetric
- Barrel Truck/In-transit mixer
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ACC Limited
- Barney & Dickenson, Inc.
- CEMEX S.A.B. de C.V.
- CRH plc
- HEIDELBERGCEMENT AG
- Holcim Ltd.
- SIKA group
- UltraTech Cement Limited
- Vicat SA
- Vulcan Materials Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: READY-MIX CONCRETE MARKET, BY TYPE
CHAPTER 5: READY-MIX CONCRETE MARKET, BY APPLICATION
CHAPTER 6: READY-MIX CONCRETE MARKET, BY MIXER TYPE
CHAPTER 7: READY-MIX CONCRETE MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Ready-Mix Concrete Market,' the ready-mix concrete market size was valued at $448.0 billion in 2020, and is estimated to reach $704.2 billion by 2030, growing at a CAGR of 4.5% from 2021 to 2030. Ready-mix concrete (RMC) is a mixture of water, additives, aggregates, and cement in a fixed proportion. Each of these ingredients is blended in proportions according to the standard code to achieve the desired durability and strength. Ready-mix concrete is more popular than regular concrete because of its convenience, ease of use, and quality. Ready-mix concrete is mainly used in the construction of residential and commercial buildings, production facilities, and roads.Ready-mixed concrete requires a set-up to mix materials in proportion. In this case, the lack of installation space near the construction site may encourage the company to transport the concrete mixture. Ready-mix concrete can last up to 90 minutes, and if there is any delay due to traffic, it can cause the concrete to settle or lose the workability, which hinders the development of the ready-mix concrete market. Moreover, factors such as poor transport and logistics infrastructure, weak non-tariff measures on cross-border goods and services, and low foreign direct investment owing to economic issue slowdown in the infrastructural development, are expected to hinder the growth of market.
The demand for ready-mix concrete in the construction industry is increasing due to increase in demand for versatile building materials and growing interest for the new construction activities. In addition, rapid population growth and urbanization are expected to have a dramatic impact on the rise in demand for housing, employment, energy, food, clean water, transportation infrastructure, and social services. For this reason, construction companies choose eco-friendly, low-cost homes and buildings to ensure the highest standards and consistent quality that can be achieved with precast concrete.
In addition, outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the ready-mix concrete market growth. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
In addition, increasing public and private investment in infrastructure sector is expected to deliver lucrative ready-mixed concrete market growth for market players during the forecast period. For example, in January 2019, China invested163 billion in infrastructure to weather the economic downturn. New construction projects include two main airports and a train station. Similarly, in August 2021, India announced more than1 trillion in infrastructure development spending to boost economic growth.
The ready-mix concrete industry is segmented on the basis of type, application, mixer type and region. By type, the market is segmented into transit mix concrete, central mix concrete, and shrink mix concrete. By application, it is divided into commercial & infrastructure, residential, and industrial. By mixer type, it is segmented into volumetric and barrel truck/in-transit mixer.
Region-wise, the global ready-mix concrete market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global ready-mix concrete market share, and LAMEA is anticipated to secure a leading position during the forecast period.
The major players profiled in the ready-mix concrete market include, ACC Limited, Barney & Dickenson, Inc., CEMEX S.A.B. de C.V., CRH plc, HeidelbergCement, Holcim Ltd., SIKA group, Ultra Tech Cement Limited, Vicat SA, and Vulcan Materials Company.
Key findings of the Study
- The report provides an extensive analysis of the current and emerging global ready-mix concrete market trends and dynamics.
- By type, the transit mix concrete segment was the largest revenue generator in 2020.
- By application, the commercial & infrastructure segment generated the highest revenue in 2020.
- By mixer type, the volumetric segment dominated the market in 2020.
- Region-wise, Asia-Pacific is anticipated to dominate the global ready-mix concrete market during the forecast period.
- The global ready-mix concrete market forecast analysis from 2021 to 2030 is included in the report.
Companies Mentioned
- ACC Limited
- Barney & Dickenson, Inc.
- CEMEX S.A.B. de C.V.
- CRH plc
- HEIDELBERGCEMENT AG
- Holcim Ltd.
- SIKA group
- UltraTech Cement Limited
- Vicat SA
- Vulcan Materials Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | May 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 447981.1 million |
| Forecasted Market Value ( USD | $ 704243.8 million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
