Ready-mix concrete (RMC) plays a vital role in the construction industry, providing a convenient and efficient solution for delivering concrete to construction sites. It is a mixture of cement, water, aggregates, and additives, precisely prepared in batching plants. The ready availability and consistent quality of RMC have made it a preferred choice for various construction projects, ranging from residential buildings to large-scale infrastructure developments.
The global Ready-Mix Concrete Market has witnessed substantial growth over the years, driven by rapid urbanization, population growth, and increasing infrastructure projects worldwide. The market is characterized by the presence of numerous local and international players, operating across regions and catering to diverse construction needs.
The size of the worldwide ready-mix concrete market is projected to reach US$ 46.9 billion in 2022 and show a significant CAGR of 13.2% from 2022 to 2032. Growth is anticipated to be aided in the coming decade by rising construction activity worldwide and soaring demand for adaptable building materials.
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At the same time, the fact that initial investments pertaining to ready-mix concrete plants are high cannot be ignored. This could be credited to marked difference in prices of land and raw materials’ availability. Plus, effective transportation is needed to the site, which adds to the overheads.
As such, those handling small projects may have to give a second thought in this regard. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Ready-Mix Concrete Market’.
Key Takeaways from Ready-Mix Concrete Market
- North America contributes for more than 60% of the overall market share. This could be attributed to increasing frequency of renovations in Canada and the US. The US Commerce Department says that spending on construction increased by 1.8% in March 2020 alone. Plus, modernization of infrastructure is on the anvil.
- Europe is expected to stand second on this count on the grounds mentioned above.
- The Asia-Pacific is expected to witness a robust CAGR of ~8% in the forecast period. This could be reasoned with development in infrastructure in Thailand, China, India, and Singapore.
“Delivery of ready-mix concrete via transit mixer does facilitate implementing accurate concrete in building and construction, thereby rendering it strong and long-lasting. This factor is expected to keep the cash registers ringing for ready-mix concrete market in the near future”, says an analyst from Future Market Insights.
Key Companies Profiled:
- CEMEX S.A.B. de C.V.
- Vicat SA
- Ultra Tech Cement Limited
- Lafarge
- ACC Limited
- Barney & Dickenson, Inc.
- SIKA Group
- Heidelberg Cement
- Holcim Ltd.
- Italcementi Group
Competitive Landscape
- UltraTech, in May 2020, did develop the in-house technology for collecting the concrete left behind at construction sites and converting them into slurry to recycle in the ready-mix concrete. This plant technology comes across as an automated thing and is environmentally-friendly in entirety, as it does away with water or solid waste.
- Hanson Group, in April 2020, did supply ready-mix concrete for converting it into an NHS filed hospital to treat and care for patients contracting coronavirus.
- Heidelberg Cement, in March 2021, entered into partnership with Thoma Bravo to invest in Command Alkon for building digital ecosystem for ‘heavy building materials’ vertical.
- ACC, in March 2021, put forth Global green concrete ‘ECOPact’ in Kolkata, India.
- CEMEX, S.A.B. de C.V., in February 2021, did announce its expansion of the US operations to strengthen the network in Texas by acquiring ready-mix business.
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Key Segments Profiled in the Ready-mix Concrete Industry Survey
By Production:
- On-Site
- Off –Site
By Product Type:
- Residential
- Non-Residential
- Infrastructural
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
What encompasses the Ready-Mix Concrete Market?
- Future Market Insights offers an exclusive perspective and various real-time insights on the ready-mix concrete market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on production (onsite and off-site), and by product type (residential, non-residential, infrastructural, commercial, and industrial).
- Advantages like curtailed cost on the part of sight supervision and labor along with simplistic pouring methods are expected to draw more end-customers to the ready-mix concrete market going forward.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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