Ready-Mix Concrete Market to Worth USD 1,374.2 Bn by 2028 | With 8.2% CAGR
The global Ready-Mix Concrete Market covered major segments by Application (Residential, Commercial, and Infrastructure), and Regional Forecast, 2021-2028 | Key Players- UltraTech Cement Ltd. (India), LafargeHolcim (Switzerland), Buzzi Unicem SpA (Italy), R. W. Sidley, Inc. (U.S.)
Pune, India, April 18, 2023 (GLOBE NEWSWIRE) — The global ready-mix concrete market size was $735.9 Bn in 2020 and is projected to grow from $792.2 Bn in 2021 to $1,374.2 Bn in 2028 at a CAGR of 8.2% in the forecast period. Rising adoption of cement in construction projects to boost the market growth. Fortune Business Insights™ mentions this information in its report titled “Ready-Mix Concrete Market Size, Share and Forecast 2021-2028.“
The global ready-mix concrete market has experienced significant growth in recent years, driven by factors such as the growing demand for construction projects in developing countries and the increasing adoption of mixed concrete due to its cost-effectiveness, durability, and ease of use. The ready-mix concrete market refers to the production and distribution of concrete that is already mixed and ready for use. This type of concrete is commonly used in construction projects, such as building foundations, bridges, and roads.
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The global ready-mix concrete market is expected to continue its growth trajectory, driven by factors such as the increasing focus on sustainable construction practices and the growing demand for infrastructure development in emerging economies. However, the market may face challenges such as the fluctuating prices of raw materials and increasing competition from alternative building materials.
List of Key Players Profiled in the Market
- Buzzi Unicem SpA (Italy)
- R. W. Sidley, Inc. (U.S.)
- HEIDELBERGCEMENT AG (Germany)
- CEMEX S.A.B. de C.V.(Mexico)
- M. I. Cement Factory Limited. (Dhaka)
- ACC Ltd.(India)
- UltraTech Cement Ltd. (India)
- LafargeHolcim (Switzerland)
- Italcementi Group (Italy)
- Hanson Cement Ltd. (U.K.)
- U.S. Concrete (U.S.)
- Others key Players
Competitive Landscape
Prominent Companies Incorporate Acquisition Strategies to Reinforce Their Stance
Prominent companies operating in the market devise acquisition strategies to reinforce their market position. This strategy may enable the company to strengthen its presence in the country and boost its market position. Further, the incorporation of research and development may enable manufacturers to tackle shortcomings and boost their product quality. This strategy may enable manufacturers to improve their brand image.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 8.2% |
| 2028 Value Projection | $1,374.2 Bn |
| Market Size in 2021 | $792.2 Bn |
| Historical Data | 2017-2019 |
| No. of Pages | 270 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Ready-Mix Concrete Market Growth Drivers | Increased Adoption in Residential Sectors to Propel Market Progress |
| Availability of Raw Materials in Bulk to Propel Market Growth in Asia Pacific |
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Drivers and Restraints:
Drivers:
- Growing demand for construction projects: The global demand for construction projects, such as residential buildings, commercial buildings, and infrastructure, is increasing due to population growth, urbanization, and economic development. This drives the demand for ready-mix concrete.
- Cost-effectiveness and time-efficiency: Ready-mix concrete is cost-effective compared to on-site concrete mixing, as it reduces labor and material costs. It is also time-efficient, as it eliminates the need for on-site concrete mixing, which can cause delays.
- Durability and strength: Ready-mix concrete is known for its durability and strength, which makes it a preferred choice for construction projects that require high-strength concrete.
- Adoption of sustainable construction practices: There is a growing focus on sustainable construction practices, and ready-mix concrete is considered a sustainable material due to its recyclability and low carbon footprint.
Restraints:
- Fluctuating prices of raw materials: The price of raw materials, such as cement, aggregates, and admixtures, can fluctuate due to supply chain disruptions and changes in demand, which can impact the cost of production and distribution of ready-mix concrete.
- Environmental and safety regulations: The ready-mix concrete market is highly regulated, and companies need to adhere to strict environmental and safety regulations. Compliance with these regulations can increase the cost of production and distribution.
- Competition from alternative building materials: The market faces competition from alternative building materials, such as wood, steel, and composite materials, which may limit the growth of the ready-mix concrete market.
- Impact of COVID-19: The COVID-19 pandemic has had an impact on the global economy, and the market is no exception. The pandemic has caused disruptions in supply chains and construction projects, which has affected the demand for ready-mix concrete.
Regional Insights:
- Asia Pacific: Asia Pacific is the largest market for ready-mix concrete, driven by the increasing demand for construction projects in countries such as China and India. Asia-Pacific is projected to dominate the market share because of the availability of raw materials in abundance. The rising population and increasing demand for high-quality residential constructions foster the demand for ready-mix concrete in the region.
- North America: The North American ready-mix concrete market is driven by the growing demand for infrastructure development and renovation projects. In North America rising demand for the product from the residential and commercial sectors is likely to propel market growth. Further rising demand for developed household facilities and increased spending capacity is expected to bolster the concrete demand.
- Europe: The European ready-mix concrete market is driven by the increasing demand for sustainable construction practices and the growing population. The infrastructure segment is growing due to the government’s focus on improving transportation and renewable energy infrastructure. The commercial and residential segments are also growing due to the increasing demand for office buildings and residential housing.
- Latin America: The Latin American ready-mix concrete market is driven by the growing construction activities in countries such as Brazil and Mexico. The infrastructure segment is growing due to the government’s initiatives to improve transportation and energy infrastructure. The residential and commercial segments are also growing due to the increasing demand for housing and commercial buildings.
- Middle East and Africa: The Middle East and Africa ready-mix concrete market are driven by the increasing demand for infrastructure development and renovation projects. The residential and commercial segments are also growing due to the increasing population and demand for housing and commercial buildings.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on the Global Ready-Mix Concrete Industry
- Supply Chain Challenges
- Steps were taken by Government/Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Ready-Mix Concrete Industry Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Application (Volume/Value)
- Residential
- Commercial
- Infrastructure
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Ready-Mix Concrete Industry Analysis, Insights, and Forecast, 2017-2028
- Key Findings / Summary
- By Application (Volume/Value)
- Residential
- Commercial
- Infrastructure
TOC Continued…!
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