Global Ready-Mix Concrete Market - 2023-2030

Global Ready-Mix Concrete Market - 2023-2030

Global ready-mix concrete market reached US$ 857.3 billion in 2022 and is expected to reach US$ 1377.0 billion by 2030, growing with a CAGR of 8.2% during the forecast period 2023-2030.

The global ready-mix concrete market is experiencing robust growth due to a combination of drivers that span urbanization, infrastructure development, technological advancements, sustainable practices, economic expansion, and a focus on quality and efficiency. As the world continues to evolve, the ready-mix concrete industry is positioned to play a pivotal role in shaping the future of construction.

Transit mix concrete emerges as the predominant segment, constituting more than 50% of the market stake. Similarly, the ready-mix concrete market is heavily influenced by the Asia-Pacific region, commanding a significant share of over one-third. Asia-Pacific's notable rise within the ready-mix concrete market is characterized by impressive expansion and inventive product introductions.

Market Dynamics

Urbanization and Infrastructure Development

Governments and private entities alike are investing heavily in construction projects, ranging from residential buildings and commercial complexes to transportation networks and public facilities. According to data from the United Nations, approximately 55% of the world's population resided in urban areas in 2018, a figure projected to increase to 68% by 2050.

The respective urban shift places immense pressure on the construction industry to deliver high-quality structures efficiently. Ready-mix concrete, with its consistent mix proportions and reduced construction time, has emerged as a key solution to meet the burgeoning demand for durable infrastructure.

Environmental Considerations and Sustainable Construction

In recent years, the global construction sector has shown increasing awareness of environmental concerns and the importance of sustainable construction practices. Government bodies and industry players are actively promoting eco-friendly construction practices, including the use of supplementary cementitious materials, efficient mix designs, and concrete recycling.

Traditional concrete production methods generate substantial carbon emissions due to the energy-intensive process of cement production. In this context, ready-mix concrete offers a more sustainable alternative. Such initiatives not only contribute to reduced carbon footprints but also align with global efforts to combat climate change.

Labor Shortages as well as Problems Associated with Raw Material Availability and Cost

Ready-mix concrete production heavily relies on raw materials such as aggregates, cement, and water. Fluctuations in the availability and cost of these materials can significantly impact the profitability of producers. Governments and industries have been focusing on sustainable sourcing of aggregates and other raw materials to ensure a steady supply. Such challenges can lead to higher production costs and supply chain disruptions in the ready-mix concrete market.

Moroever, the construction industry, including the ready-mix concrete sector, has been grappling with a shortage of skilled labor. Many skilled workers are retiring, and there is a lack of young talent entering the field. The respective shortage can lead to delays in project completion and affect the quality of concrete production.

COVID-19 Impact Analysis

The COVID-19 pandemic presented unprecedented challenges for the global ready-mix concrete market. Supply chain disruptions, project delays, and changes in construction demand significantly impacted the industry. However, the industry's resilience, adaptability, and commitment to innovation have enabled it to navigate these challenges.

With the gradual recovery of construction activities and the implementation of infrastructure investment plans, the ready-mix concrete market is poised for growth. As the construction industry continues to evolve in response to changing needs and sustainability imperatives, the role of ready-mix concrete remains vital in building a resilient and sustainable future.

Segment Analysis

The global automotive steering sensor market is segmented based on on type, mixer type, application and region.

Ability to offer Construction Efficiency, Quality and Sustainability

The ascent of transit mix concrete in the global ready-mix concrete market is a testament to its significant role in shaping modern construction practices. Transit mix concrete become a driving force behind construction efficiency, quality, and sustainability. As urbanization and infrastructure projects continue to thrive globally, transit mix concrete is poised to remain a pivotal component of the global ready-mix concrete market's growth story.

Due to the growing popularity of transit mix segment, many manufacturers have launched several products into the market. For instance, in 2021, LafargeHolcim introduced a new range of transit mix concrete solutions with reduced carbon emissions. The respective product launch aligns with the global industry's push toward eco-friendly alternatives and demonstrates the commitment of key players to innovation.

Geographical Analysis

Continuous Development of Commercial and Residential Spaces

The Asia-Pacific region's ascension in the global ready-mix concrete market is marked by remarkable growth and innovative product offerings. For instance, The Indian construction sector, buoyed by urbanization and government initiatives, has also witnessed substantial growth. The 'Housing for All' and 'Smart Cities Mission' programs have led to increased construction activities, propelling the demand for ready-mix concrete.

Similalry, in Japan and South Korea, the continuous development of commercial and residential spaces has further fueled the market's growth. Moreover, the post-pandemic era has emphasized the significance of resilient and sustainable construction practices. As urban landscapes evolve and construction demands escalate, the Asia-Pacific ready-mix concrete market is poised for continued expansion, contributing significantly to the global construction ecosystem.

Competitive Landscape

The major global players in the market include UltraTech Cement Limited, CRH plc, HEIDELBERGCEMENT AG, SIKA group, Vicat SA, Holcim Ltd., Vulcan Materials Company, Barney & Dickenson, Inc, ACC Limited and CEMEX S.A.B. de C.V.

Why Purchase the Report?
• To visualize the global ready-mix concrete market segmentation based on type, mixer type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of ready-mix concrete market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global ready-mix concrete market report would provide approximately 61 tables, 56 figures and 183 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies