The global ready-mix concrete market size was USD 870.99 Bn in 2022 and is likely to reach USD 1800.02 Bn by 2031, expanding at a CAGR of 8.4% during 2023–2031. The market growth is attributed to the rapid adoption of ready-mix concrete for the rising construction and infrastructure sectors in emerging economies.
Ready-mix concrete is a mixture of cement, aggregate, and water. It is manufactured in the factory or a batching plant as per the client’s requirements. Ready-mix concrete offers high durability and sustainability. It is higher in cost compared to normal concrete but still, it is better for many projects as it offers higher quality than the traditional one.
This concrete is eco-friendly in nature as it reduces noise and air pollution with the onsite concrete mixing process. There are three types of ready-mix concrete for industry use, transit mix concrete, shrink mix concrete, and central mix concrete. Ready-mix concrete offers versatility as it is mixed to the exact requirement of customers.
It can be used directly on the construction site as it is already mixed at the plant before delivering to the client. The concrete is mixed as per the client’s requirement so there is little wastage of materials, and a specific number of measurements are used in the construction.
Ready-mix concrete is widely used for applications such as commercial buildings, infrastructure, and residential buildings. This concrete does not need to be stored as it comes directly mixed and it also cuts down the labor cost needed for the on-site mixing process. New technological developments in the construction and infrastructure industry can increase the demand for ready-mix concrete.
COVID-19 Impact on the Global Ready-Mix Concrete Market
The market report finds that the COVID-19 pandemic affected the global ready-mix concrete market due to the decrease in demand for ready-mix concrete owing to the sudden shutdown of the construction industry. The pandemic affected major industries around the world which ultimately slowed down the global economy.
Global key manufacturers had to delay or reschedule their production and major projects due to the sudden outbreak of COVID-19 which leads to the temporary shutdown of factories and production units. The sudden outbreak of the pandemic leads to governments across the world to impose strict regulations regarding traveling which had a major impact on the transportation of ready-mix concrete.
The pandemic hampered the global market due to the lack of working labor in the factories owing to the strict social distancing regulations imposed by governments across the globe to prevent the spread of the coronavirus. Disruption in the supply chain and lack of raw materials hindered the global market during the pandemic.
Market Dynamics of the Global Ready-Mix Concrete Market
The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The ready-mix concrete market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
What are the Key Trends in the Global Ready-Mix Concrete Market?
3D Concrete Printing
3D concrete printing technology has been a key trend in the global ready-mix concrete market. 3D concrete printing uses extremely large-scale 3D printers which usually come with a robotic hand system. It is a form of cementitious manufacturing used to fabricate buildings in completely new shapes with advanced technology which was not possible with the previous traditional concrete system.
3D Concrete printing increased design flexibility which enables more diverse projects to be undertaken and it helps to reduce the environmental impact. This printing requires fewer materials than the traditional building process and it offers fewer errors which improves safety for workers. 3D concrete printing can be a major factor that makes a revolutionary change in the construction and infrastructure sector in the coming years.
What are the Key Factors Driving the Global Ready-Mix Concrete Market?
Increasing Infrastructure and Construction Projects
Ready-mix concrete has gained popularity in recent years owing to its wide use of it for infrastructure and construction around the world. Increasing infrastructures such as roads, bridges, airports, and many other infrastructure projects in emerging economies such as India and China are likely to drive the market in the coming years.
Rising Demand for High-quality Concrete
Ready-mix concrete is produced under controlled conditions. It is made by using high-tech equipment for better results and consistent methods of producing excellent-quality concrete are likely to boost the demand for ready-mix concrete during the forecast period.
Ready-mix concrete helps to reduce construction time and cost. It is mixed at a plant before delivering it to the client or site and it is custom-made to match the client’s requirements. The demand for this concrete is rapidly increasing owing to its lower maintenance cost and high-quality concrete.
What are the Major Restraining Factors that can Hamper the Global Ready-mix Concrete Market Expansion?
Initial High Investment in Concrete
Ready-mix concrete requires a high initial investment which can hamper the global market. due to the high initial investment, it is not suitable for the use of small projects as these projects need a small quantity of concrete, but the construction company needs to make a high investment for that which can affect their projects. This can decrease the demand for ready-mix concrete which can hinder the global ready-mix concrete market.
What are the Growth Opportunities in the Global Ready-mix Concrete Market?
Increasing Government and Private Investments in the Construction and Infrastructure Sector
The increasing demand for ready-mix concrete is due to the increasing infrastructure and expanding construction industry in emerging economies. Increasing private and government investments in the global market can produce lucrative opportunities for the global market. Governments in developing countries are heavily investing in infrastructure to deal with ongoing rapid urbanization around the world.
For instance, India planned to spend around 1.4 trillion on infrastructure during 2019-2022 and the spending on the infrastructure is likely to increase during the forecast period. Urbanization, the increasing population which leads to the rising demand for residential and commercial structures, and economic expansion in developing countries are the major factors making the need for new and updated infrastructure even more urgent.
Scope of the Global Ready-Mix Concrete Market
The ready-mix concrete market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ready-Mix Concrete Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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206–2021
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Forecast Period
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2023–2031
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Segmentation
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Mixer Type (In-transit/Barrel Truck and Volumetric), Concrete Type (Central Mix Concrete, Transit Mix Concrete, and Shrink Mix Concrete), and Application (Infrastructure, Residential Building, and Commercial Building)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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CEMEX S.A.B. de C.V.; UltraTech Cement Ltd.; Vicat SA; Holcim Limited; Barney & Dickenson Inc; Buzzi Unicem SpA; R.W. Sidley, Inc.; ACC Limited; LAFARGE; and Sika AG
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Market Segment Insights of the Global Ready-Mix Concrete Market
What Key Factors Contribute to the Rapid Expansion of the Mixer Segment?
Increasing Demand for the Volumetric Mixer due to the Larger Mixing Capacity
Based on mixer type, the global ready-mix concrete market is bifurcated into In-transit/barrel truck and volumetric. The volumetric segment is expected to expand at a significant growth rate during the projected period due to the various advantages of the volumetric segment over the In-transit. Volumetric mix concrete offers various benefits for commercial and domestic projects.
The volumetric mixer type has a larger mixing capacity and can store double the volume of concrete compared to the barrel mixer. It is ideal for larger projects as it is mixed onsite and depending on requirements, the volume mix can up easily be scaled up or down. It eliminates the potential for waste materials as it only adds the concrete that’s needed which helps to increase the demand for the volumetric mixer in the coming years.
The barrel truck/ In-transit segment is anticipated to hold a key share of the market in the coming years is attributed to the increasing adoption of barrel mixers as it provides ready-mixed concrete which can be used straight on the construction site.
Barre mixer can deliver a large volume of concrete already mixed instead of mixing it onsite, this helps in speeding up the work on-site and allows a high level of consistency which can help to fuel the segment in the global market.
Which Major Factors influence the Significant Growth of the Concrete Type Segment?
The Extensive Use of Transit Mix Concrete in the Construction Sector
On the basis of concrete type, the global market is segregated into central mix concrete, transit mix concrete, and shrink mix concrete. The transit mix segment held the major revenue share in 2021. It is projected to register a considerable CAGR during the forecast period owing to the wide use of this concrete in the construction sector.
Transit mix concrete ingredients are batched at the manufacturing plant and added to the transportation truck. Transit-mix concrete offers an advantage over the other type such as while transporting the batch from plant to site, ingredients are completely mixed in the truck mixer to produce the concrete.
This method of mixing ingredients segregates water from the cement and prevents the issue of early hardening of concrete or slump loss. This factor is making a difference compared to the other types and it helps to boost the segment in the global market.
The shrink-mix concrete segment is anticipated to account for a major market share in the coming years due to the rising demand for shrink-mix concrete in the construction and infrastructure sectors owing to the short mixing period of this concrete at the plants, it reduces the bulk volume of overall ingredients and to increase the truck load’s capacity.
Moreover, in shrink-mix concrete, the concrete is partially mixed at the plant to reduce the volume of the mixture and the remaining mixing is completed at the job site. Due to the property of more durability the demand for shrink-in concrete can boost the segment in the coming years.
Which Major Factors Influence the Substantial Growth of the Application Segment?
The Commercial Buildings Segment to Grow at a Substantial Growth Rate
Based on application, the global market is segregated into infrastructure, residential buildings, and commercial buildings. The commercial buildings segment is expected to expand at a significant rate due to rapid growth in the establishment of many private sectors such as hotels, shopping malls, and restaurants.
The commercial sector needs construction which increases the demand for ready-mix concrete. The increasing commercial construction in developing countries can boost the segment during the forecast period.
The Infrastructure Segment Registers a Considerable CAGR
The infrastructure segment is to register a considerable CAGR during the projected year due to the rapid urbanization across the globe, especially in emerging economies such as India, Chain, and countries in the Middle East.
Rapid developments of water systems such as dams, power constructions, roads & highways across the globe can boost the segment. Increasing government investments and schemes in infrastructure development can fuel the segment during the forecast period.
Why is Asia Pacific Dominating the Global Ready-mix Concrete Market?
The Large-scale Demand for Concrete in the Developing Countries
In terms of region, the global ready-mix concrete market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market size of Asia Pacific is expected to dominate the market during the projected period due to the large-scale demand for ready-mix concrete in emerging economies such as South Korea, India, and China.
The rapid increase in infrastructure and construction in these countries is likely to boost the global market in the projected years. Increasing government investments in the construction sector and launching new schemes for the infrastructure sector can further drive market growth.
However, the market of North America is anticipated to expand at a rapid pace during the forecast period owing to the rising demand for the residential and commercial sectors in the region. The favorable government schemes and regulations for the construction sector help to increase the demand for ready-mix concrete in the global market. Furthermore, the increasing demand for single-housing units in the residential sector can propel the global ready-mix concrete market.
Segments
The Ready-mix concrete market has been segmented on the basis of
Mixer Type
- In-transit/Barrel Truck
- Volumetric
Concrete Type
- Central Mix Concrete
- Transit Mix Concrete
- Shrink Mix Concrete
Application
- Infrastructure
- Residential Building
- Commercial Building
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- CEMEX S.A.B. de C.V.
- UltraTech Cement Ltd.
- Vicat SA
- Holcim Limited
- Barney & Dickenson Inc
- Buzzi Unicem SpA
- R.W. Sidley, Inc.
- ACC Limited
- LAFARGE
- Sika AG
Competitive Landscape
The competitive landscape of the global ready-mix concrete market report provides key insights into the growth strategies and development initiatives implemented by the key players in the market. Key players competing in the ready-mix concrete market are CEMEX S.A.B. de C.V.; UltraTech Cement Ltd.; Vicat SA; Holcim Limited; Barney & Dickenson Inc; Buzzi Unicem SpA; R.W. Sidley, Inc.; ACC Limited; LAFARGE; and Sika AG.
Some of these major companies adopted various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
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On May 9, 2022, a Swiss multinational specialty chemical company Sika AG acquired a US-based company, United Gilsonite Laboratories (UGL) which is a well-recognized manufacturer of products for consumer and DIY waterproofing applications.
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On September 28, 2021, HeidelbergCement a German multinational building materials company, partners with a US-based leading software investment firm Thoma Bravo and invests in Command Alkon to build the digital ecosystem for the Heavy Building Materials industry.
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On March 30, 2021, India-based, one of the leading producers of cement and ready-mix concrete in the country launched global concrete “ECOPact” to India to accelerate sustainable and circular construction.
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On February 16, 2021, a Mexican multinational building materials company, CEMEX, S.A.B. de C.V. announced that its U.S. operations are expanding its strong Texas network with the acquisition of a ready-mix business in San Antonio, TX, as part of its growth initiative. CEMEX acquired the ready-mix assets of Beck Readymix Concrete Co. LTD., including three strategically located ready-mix concrete plants and one portable plant to service the San Antonio metropolitan area and surrounding areas.
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