Global Ready Mix Concrete Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Ready Mix Concrete Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Ready mixed concrete refers to cement, aggregates, water and admixtures, mineral admixtures and other components mixed according to needs in a certain proportion, which are sold at a mixing station after being measured and mixed, and transported by transport vehicles. The concrete mixture delivered to the place of use within time.

Market Overview:

The latest research study on the global Ready Mix Concrete market finds that the global Ready Mix Concrete market reached a value of USD 269740.22 million in 2022. It’s expected that the market will achieve USD 347657.17 million by 2028, exhibiting a CAGR of 4.32% during the forecast period.

Market Drivers and Impact

Since the 2010s, the housing market has been struggling to keep up with demand, when the number of new houses built at that time was halved compared to the previous decade. As demand for residential real estate increases, the scarcity of homes for sale has led to a deadlock on the supply side. According to a new analysis by Freddie Mac, a mortgage financing company, there are 3.8 million single-family homes in the U.S. housing market, which cannot meet the country's demand. This estimate shows that compared with 2018, the housing shortage in the United States has increased by 52%. This is the first time that Freddie Mac has quantified the shortage.
Freddie Mac estimated in 2018 that the US still lacks the 2.5 million units needed to meet long-term demand. The new estimate is as of the end of 2020. These figures highlight the severity of the housing shortage, which is the main factor driving the current hot housing market. The shortage of housing in the United States promotes the demand for ready-mixed concrete in the United States.
After the Covid-19 crisis, governments in the Asia Pacific (APAC) region, especially the Philippines and Vietnam, were considered to be in a good position to invest in infrastructure to promote economic growth.
Before the pandemic, governments in the Asia-Pacific region had been investing heavily in infrastructure. In the past five years, driven by Asia, the value of global infrastructure construction has grown at an average annual rate of 3.2%, of which infrastructure construction in Northeast Asia has grown at an average annual rate of 5.4%, and infrastructure construction in South and Southeast Asia has grown at an average annual rate of 6.8%. Report from Global Data.
But the Covid-19 crisis has caused unprecedented economic damage in the region, and containment measures have brought many economies and key sectors to a standstill. According to the report, therefore, the overall economic growth rate of the region (excluding China) will drop to 0.5% in 2020, which is lower than the average of over 7% in the past five years. Therefore, investment will fall, especially in commercial, industrial and residential construction.
At present, the goal of the government and public authorities may be to increase spending on infrastructure projects as soon as possible after returning to normal, in order to revitalize the construction industry and the wider economy. This will cover all areas of transportation infrastructure, energy and utilities. Infrastructure investment is generally considered to have a high multiplier effect, and the overall increase in economic value is higher than the value of direct investment itself. Infrastructure in the Asia-Pacific region has stimulated the demand for ready-mixed concrete in the Asia-Pacific region.

Region Overview:

APAC had the highest growth rate of all regions.

Company Overview:

China National Building Material Company Limited is one of the major players operating in the Ready Mix Concrete market, holding a share of 3.15% in 2021.

China National Building Material Company Limited is a large-scale cement enterprise group supported by the state that integrates the manufacturing and R&D of cement, commercial concrete, aggregates, cement products, energy conservation, environmental protection, and comprehensive utilization.

HeidelbergCement is one of the world's largest manufacturers of building materials and has been contributing to progress for 150 years. Products are used in the construction of houses, transportation routes, commercial and industrial facilities.

Segmentation Overview:

Among different product types, Transit Mixed Concrete segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Residential segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Ready Mix Concrete market covered in Chapter 3:

Votorantim
US Concrete
China West Construction Group Co., Ltd
Shanghai Construction Group (SCG)
LafargeHolcim
HeidelbergCement
Cimpor
China Resources Cement Limited
CRH Plc
Buzzi Unicem
Cemex
China National Building Material Company Limited
Siam Cement Group
BBMG Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Ready Mix Concrete market from 2018 to 2029 is primarily split into:

Transit Mixed Concrete
Shrink Mixed Concrete
Central Mixed Concrete

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Ready Mix Concrete market from 2018 to 2029 covers:

Residential
Commercial
Infrastructure
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)