The global ready-mix concrete market size is projected to reach USD 1,118.5 billion by 2027, at a CAGR of 8.2% from 2020 - 2027.
The ready-mix concrete (RMC) is a mixture of cement, water, sand and aggregates. Manufacturing ready-mix concrete and delivering through a transit mixer enables the implementation of precise concrete in the construction project, making it sturdy, strong and long lasting. Ready-mix concrete is particularly advantageous when small quantities of concrete or intermittent placing of concrete are required. Ready-mixed concrete is also ideal for large jobs where space is limited and there is little room for a mixing plant and aggregate stockpiles.
Despite its increasing growth and popularity, RMC has its distinctive risks in terms of occupational safety. The employees of this sector experience the risks that emerge not only during the fabrication process of concrete, but also during its delivery to the construction site. The improving infrastructure and airport expansion projects, especially in developing nations is fueling the demand for ready-mix concrete. High government spending on construction, manufacturing, and power plants, the growing population, and urbanization fuel the market growth.
RMC is being preferred over traditional concrete due to ease of use, greater convenience, economy, and better quality. Furthermore, wastage reduction, low inventory costs, and efficient utilization will lead to the lowering of the overall project expenditures, which in turn will augment the product demand over the upcoming years. Key benefits of RMC are low labor cost and supervising cost, consumer awareness regarding eliminating wastage associated with bulk handling, and consistency in quality.
An increase in big projects is spurring the consumption of RMC because of its high quality and ease of use. The time constraints placed upon infrastructure development projects in the urbanized economies, is creating a high demand for readymade concrete mixes. Also, ready-mix concrete provides reduced shrinkage, cracking tendencies and volume change, leading to its increased adoption. Concrete's limited timespan between mixing and going-off means that ready-mix should be placed within 90 minutes of batching at the plant. This acts as a restraint in the market.
Ready-mix concrete is a type of concrete that improves durability and sustainability. It is an easier option purchasing the raw materials individually and experimenting every time with handling and proportioning, is not involved. The global ready-mix concrete market is a very dynamic market and is expected to witness high growth over the forecast period. The global ready-mix concrete market has been segmented by production (on site and off site), by application (Commercial, Residential, Infrastructure, Industrial utilities) and by region (the Americas, Europe, Asia-Pacific and RoW). Increased construction of residential and commercial complexes is also expected to boost ready-mix demand during the coming years. Rapid population expansion, coupled with the infrastructural requirement in Saudi Arabia, has led the government to initiate several large-scale construction works in order to ease pressure on existing infrastructure, which, in turn, will spur the market growth over the forecast period. Growing population and increasing disposable income in China and India will drive the construction growth, which in turn, will spur the demand for RMC.
The key players of global ready-mix concrete market includes ACC Limited (India), Vicat SA (France), Lafarge (France), Buzzi Unicem S.p.A. (Italy), Barney & Dickenson, Inc.(U.S.), R.W. Sidley, Inc. (U.S.), CEMEX S.A.B. de C.V.( Mexico), Italcementi Group (Italy), UltraTech Cement Limited ( India), Holcim Ltd.( Switzerland), and HeidelbergCement (Germany)
Ready-mix concrete Market-By Segment:
The global ready-mix concrete market can be segmented on the basis of geography into Asia Pacific, North America, Europe, and the Rest of the World. In terms of geography, Asia Pacific accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Asia Pacific will lead in the market owing to a growing number of new infrastructural projects in India, Singapore, China, and Thailand. Rapid industrialization and urbanization in these countries are behind the growth of the market in Asia Pacific. Some of the major factors responsible for the market’s growth in the region is the rapid industrialization, population growth, urbanization, and favorable government policies, availability of cheap resources and skilled workforce, and low operational and labor costs. On the other hand, it is expected that the introduction of new infrastructure construction projects will create a heightened demand for ready-mix concrete. This will ensure a continued growth of the market in the coming years.
The ready-mix concrete market is still in an early stage of its development in India, but offers strong growth and value creation potential. The Indian construction market is developing to witness significant demand for new housing, urbanization and infrastructure. There is intense competition among the well-established players in the construction market. The number of construction projects is expected to rise with an increase in public sector expenditure. The increase in investment in construction, combined with the rapid growth of the economy, creates an ideal condition for a number of international vendors to enter the market during the forecast period.
The report for Global Ready-mix concrete Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||8.2% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ACC Limited (India), Vicat SA (France), Lafarge (France), Buzzi Unicem S.p.A. (Italy), Barney & Dickenson, Inc.(U.S.), R.W. Sidley, Inc. (U.S.), CEMEX S.A.B. de C.V.( Mexico), Italcementi Group (Italy), UltraTech Cement Limited ( India), Holcim Ltd.( Switzerland), and HeidelbergCement (Germany)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The enhanced level of convenience offered by ready mix concrete is expected to tip a favorable growth trend in the ready mix concrete market.
The market is expected to progress with the backing of 8.2 % CAGR by the year 2027.
Vicat SA (France), Lafarge (France), ACC Limited (India), R.W. Sidley, Inc. (U.S.), Barney & Dickenson, Inc.(U.S.), Holcim Ltd.(Switzerland), CEMEX S.A.B. de C.V. (Mexico), Italcementi Group (Italy), Buzzi Unicem S.p.A. (Italy), UltraTech Cement Limited (India), are the distinguished players leading the evolution of the ready mix concrete market.
The commercial and residential sectors are likely to show a soaring level of potential in the coming years.
Although the terms cement and concrete often are used interchangeably, cement is actually an ingredient of concrete. Concrete is basically a mixture of aggregates and paste. The aggregates are sand and gravel or crushed stone; the paste is water and portland cement. Concrete gets stronger as it gets older.