Global Ready-Mix Concrete Market Analysis 2022
The Global Ready-Mix Concrete Market is expected to reach $1,559.75 billion by 2028 growing at a CAGR of 10.1% from 2021 to 2028. Ready-mix concrete is material like water, aggregate, cement, and sand which further blend together to form a mixture. Ready-mix concrete is advantageous when small quantities of concrete or intermittent placing of concrete are required. Industrial ready-mix concrete and distributing over a transit blender permits the application of accurate concrete throughout the building development, helps to enhance the durability, toughness and quality of the material. It is beneficial when mixed together with appropriate materials in small amount. Each batch & lot of ready-mix concrete is tailor-made according to the requisites of the construction contractor.
Factors such as increasing investments and development activities in the infrastructure sector, government initiatives, growing demand for the concrete in the construction industry, and superior technical properties over normal concrete are driving the growth of the market. However, ease of availability of potential substitute is restraining the growth of the market.
Based on end user, the residential segment is estimated to have a significant growth, due to ascending demand for single-family houses in Asia Pacific and European countries, rapidly growing population, expanding rate of urbanization and substantial need for residential construction to provide housing to people across different economies worldwide. Further, hefty investments in residential construction and efforts by central governments across these countries would further impel the demand for RMC over the forecast period. For instance, the residential sector in India is anticipated to grow substantially in the coming years, with the Indian government seeking to build 20 million affordable houses in urban regions nationwide by 2022, under Union Ministry of Housing and Urban Affairs’ PMAY scheme.
The key vendors mentioned are Saint-Gobain, Hanson Cement Ltd., Buzzi Unicem S.p.A, Sika Corporation, R.W. Sidley, Inc, Vicat S.A, ACC Limited, Holcim Ltd, Barney and Dickenson Inc, Henkel, UltraTech Cement Ltd, Sidley Inc, Italcementi Group, Livingston's Concrete Service, Inc., Vulcan Materials Company CRH plc, Aparna Enterprises Ltd, and The Ramco Cements Limited.
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