PUBLISHER: Allied Market Research | PRODUCT CODE: 1108560
PUBLISHER: Allied Market Research | PRODUCT CODE: 1108560
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.
Key Benefits For Stakeholders
By Type
By Application
By Mixer Type
By Region