Ready-Mix Concrete Market Forecasts to 2030 – Global Analysis By Mixer Type (Barrel Truck/In-transit Mixer and Volumetric), Type (Central Mix Concrete, Transit Mix Concrete and Shrink Mix Concrete), Application (Residential, Industrial, Commercial and Inf

Ready-Mix Concrete Market Forecasts to 2030 – Global Analysis By Mixer Type (Barrel Truck/In-transit Mixer and Volumetric), Type (Central Mix Concrete, Transit Mix Concrete and Shrink Mix Concrete), Application (Residential, Industrial, Commercial and Infrastructure) and By Geography

According to Stratistics MRC, the Global Ready-Mix Concrete Market is accounted for $588.6 billion in 2024 and is expected to reach $970.9 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Ready-mix concrete (RMC) refers to a specially formulated mixture of cement, aggregates like sand, gravel, or crushed stone, water, and additives. Produced in a controlled environment at batching plants, RMC is designed to meet specific construction requirements and delivered to construction sites in a ready-to-use form. This eliminates the need for on-site mixing, ensuring consistency in quality, strength, and durability of the concrete. The process begins with precise measurement and mixing of ingredients according to predefined recipes based on the project's specifications. This results in a uniform blend that is ready for immediate application, reducing labor costs, construction time, and waste.

According to the Ministry of Commerce and Industry, the real estate sector in India is expected to reach USD 1 trillion in market size by 2030, up from USD 200 billion in 2021, and contribute 13% to the country’s GDP by 2025.

Market Dynamics:

Driver:

Increasing urbanization and infrastructure development

Increasing urbanization and infrastructure development have significantly boosted the demand for Ready Mix Concrete due to RMC's efficiency, quality control, and cost-effectiveness compared to traditional on-site mixing methods. In urban areas where space is limited and construction timelines are stringent, RMC offers a practical solution by being prepared off-site and delivered to the construction site in ready-to-use form. Moreover, RMC ensures consistency in material quality, which is crucial for structural integrity and durability of buildings and infrastructure. As cities expand and modernize, the need for robust and reliable construction materials becomes paramount.

Restraint:

Price volatility of raw materials

The price volatility of raw materials poses significant challenges to the Ready Mix Concrete (RMC) industry. Ready mix concrete production heavily relies on materials like cement, aggregates (such as sand, gravel, crushed stone), and water. Fluctuations in the prices of these raw materials can directly impact production costs, profitability, and overall operational stability of RMC suppliers and contractors. Several factors contribute to this volatility, including changes in global demand-supply dynamics, geopolitical tensions affecting supply chains, and environmental regulations influencing extraction and transportation costs.

Opportunity:

Growing popularity of geopolymer cement concrete

The growing popularity of geopolymer cement concrete is substantially enhancing the ready mix concrete. Geopolymer concrete offers several advantages over traditional Portland cement-based mixes, including lower carbon emissions, higher durability, and superior resistance to chemicals and corrosion. These qualities make it particularly appealing for infrastructure projects where sustainability and longevity are key considerations. In the context of RMC, geopolymer concrete is poised to revolutionize construction practices by reducing the environmental impact associated with cement production. Ready mix concrete suppliers are increasingly integrating geopolymer formulations into their product offerings to meet the rising demand for eco-friendly building materials.

Threat:

Project delays and economic uncertainty

Construction projects, vital consumers of ready-mix concrete, often face delays due to a variety of factors such as labor shortages, supply chain disruptions, and regulatory issues. These delays not only impact project timelines but also create a ripple effect throughout the supply chain, affecting the timely delivery and utilization of concrete. Economic uncertainty further exacerbates these challenges, as fluctuating demand and cost volatility make planning and forecasting difficult for both suppliers and consumers alike. This environment of unpredictability hinders the growth and stability of the ready-mix concrete sector, requiring stakeholders to adopt flexible strategies to navigate through these turbulent times effectively.

Covid-19 Impact:

Initially, lockdowns and restrictions led to disruptions in construction activities, causing a decline in demand for concrete. Projects were delayed or halted, affecting the production and delivery schedules of ready-mix suppliers. logistical challenges emerged due to workforce shortages, transportation limitations, and supply chain disruptions, which further strained operations. On the business side, many companies faced financial pressures as revenues dwindled while fixed costs remained. Uncertainties about future demand and project timelines posed challenges for business planning and investment decisions.

The Volumetric segment is expected to be the largest during the forecast period

Volumetric segment is expected to be the largest during the forecast period. Volumetric segmentation in the context of Ready Mix Concrete (RMC) refers to the process of categorizing and targeting customers based on their specific needs and preferences for concrete mixes. This approach acknowledges that different construction projects require varying concrete specifications in terms of strength, durability, workability, and other characteristics. By understanding these specific requirements, RMC suppliers can tailor their product offerings more precisely, ensuring that customers receive the optimal mix for their project's demands

The Transit Mix Concrete segment is expected to have the highest CAGR during the forecast period

Transit Mix Concrete segment is expected to have the highest CAGR during the forecast period. Unlike traditional methods where concrete is mixed at a central plant and then transported to construction sites, transit mix concrete is prepared at the job site itself, ensuring fresher and more customizable mixes tailored to specific project requirements. This method offers several advantages, including reduced transportation costs, better control over concrete quality and consistency, and decreased environmental impact due to lower energy consumption and emissions from transport vehicles.

Region with largest share:

North America region dominated the largest share of the market throughout the extrapolated period. As urbanization intensifies across the region, particularly in major metropolitan areas, the demand for infrastructure and residential construction projects is escalating. Ready-mix concrete, renowned for its convenience, consistency, and cost-effectiveness, is the preferred choice for these developments due to its ability to be delivered and used on-site promptly. This regional trend is further bolstered by advancements in construction techniques and sustainable building practices, where ready-mix concrete plays a crucial role in meeting stringent environmental standards.

Region with highest CAGR:

Europe region is poised to hold substantial growth over the projection period. Governments have allocated substantial funds towards infrastructure projects, such as transportation networks and urban development, which drive the regional demand for RMC. Investments in research and development foster innovation in concrete technology, promoting higher quality standards and environmental sustainability across the region. The emphasis on reducing carbon footprint through advanced mix designs and production techniques aligns with Europe's ambitious climate goals, attracting further investments in eco-friendly construction materials like RMC.

Key players in the market

Some of the key players in Ready-Mix Concrete market include ACC Limited, Aditya Birla Group, Boral Limited, Breedon Group, China National Building Material Group Corporation, Heidelberg Materials AG, Rinker Group, Siam Cement Group, Taiwan Cement Corporation, UltraTech Cement, Vulcan Materials Company and Xella Group.

Key Developments:

In June 2023, Buzzi SpA, through its wholly owned subsidiary Dyckerhoff GmbH entered into an agreement with CRH, a prominent player in the building materials sector, for the sale of selected operations in Eastern Europe. The transaction entails the sale of assets in Ukraine and the ready-mix concrete division in eastern Slovakia. The completion of the transaction in Ukraine is subject to securing the requisite regulatory approvals and is anticipated to take place in 2024. This strategic move aligns with Buzzi's ongoing efforts to optimize its business portfolio and enhance its operational focus

In May 2023, ACC and Ambuja Cements, entities under the Adani Group, jointly inaugurated a cement and concrete research and development (R&D) facility located in Kalamboli, Mumbai, India. This strategic initiative reflects their shared vision to drive advancements, optimize costs, and establish sustainable solutions that will shape the future of the industry. The newly established R&D facility will serve as a hub for cutting-edge research, fostering collaboration, and nurturing the development of innovative solutions

In February 2023, ACC Limited, the cement and building materials company, developed a temperature-controlled concrete solution named 'Coolcrete'. This innovative product has been specifically designed to mitigate the excessive internal temperature rise that can occur during mass concreting or large pours. By effectively reducing the heat of hydration, Coolcrete minimizes the potential risks associated with delayed ettringite formation and thermal cracking in mass concrete structures. Through the implementation of this advanced technology, ACC aims to provide a reliable and efficient solution that ensures the integrity and longevity of concrete constructions.

Mixer Types Covered:
• Barrel Truck/In-transit Mixer
• Volumetric

Types Covered:
• Central Mix Concrete
• Transit Mix Concrete
• Shrink Mix Concrete

Applications Covered:
• Residential
• Industrial
• Commercial
• Infrastructure

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements