The Ready-Mix Concrete Market size was valued at $448.0 billion in 2022 and is projected to reach $704.2 billion by 2028, growing at a CAGR of 4.5% from 2023 to 2028.
Ready-mix concrete is a construction material made of cement, sand, coarse aggregates, and water that hardens over time. It is widely used for faster and easier construction processes. Different types of cement are used in making concrete, and additives like superplasticizers or pozzolans are added to improve its properties. Reinforcing materials like rebar are often included for added strength. The use of concrete in construction is more extensive than wood, steel, plastics, and aluminum combined. Mineral-based admixtures like fly ash and silica fume, derived from industrial processes, are also used to enhance the concrete's properties. The growing construction industry is driving the demand for ready-mix concrete.
The construction industry is rapidly growing due to economic development and increased income in both developed and developing countries. This growth is leading to a higher demand for buildings and housing, which, in turn, is driving the ready-mix concrete market growth. As industrialization shifts from Western regions to the Asia Pacific, there's a significant boost in the construction sector, leading to propel the ready-mix concrete market shares. The development of infrastructure facilities like highways, bridges, railroads, and urban buildings also plays a crucial role in driving the market. Private sector investments and support from governments further contribute to the construction opportunities and the demand for this type of concrete. Additionally, the construction industry benefits from factors such as improved equipment, reduced labor costs, and better health benefits, leading to its continuous growth and driving the ready-mix concrete market forward.
The ready-mix concrete market faces several challenges that affect its growth and operations. One of these challenges is the high initial investment required to set up a plant. This includes costs for buying land, specialized machinery, transportation logistics, and skilled manpower. These upfront costs can deter new players and hinder the expansion of smaller companies. Another challenge is the seasonal demand fluctuations. Construction and infrastructure projects peak during certain seasons, leading to an increase in demand for the ready-mix concrete market. However, during off-peak seasons or adverse weather conditions, demand may decrease. This results in the underutilization of production facilities and excess capacity. Transportation costs are also a restraint. Ready-mix concrete has a limited shelf life, and timely delivery to construction sites is crucial. Long-distance transportation can be expensive and may affect profitability. The industry also faces environmental concerns and regulatory requirements. Concrete production emits greenhouse gases, mainly during cement manufacturing. As regulations become stricter, manufacturers may need to adopt more sustainable practices, which can increase operational costs. Competition from traditional on-site mixing methods can also affect the ready-mix concrete market. On-site mixing using basic materials is common in some regions, especially in small-scale projects. This traditional approach may be preferred due to cost considerations or material availability, affecting the demand for the ready-mix concrete market. Consistent quality control is critical in producing ready-mix concrete. Any deviation in mixing proportions can lead to variations in the concrete's strength and durability. Ensuring consistent quality across different batches requires vigilant monitoring and testing processes.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
4.5% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional and Country Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Infrastructure development projects such as constructing roads, bridges, and buildings are being undertaken by governments across the globe, presenting opportunities for the ready-mix concrete market. With the surge in urbanization and population growth, there is a need for increased residential and commercial construction, leading to a higher demand for the ready-mix concrete market. The trend towards eco-friendly and sustainable construction practices presents an opportunity for the market to offer concrete mixes with recycled materials and lower carbon footprints. Advancements in technology, like 3D-printed structures and self-healing concrete, open up new possibilities. To expand their business, companies in this industry can form partnerships with construction firms, architects, engineers, and real estate developers. The use of digital technologies and automation can improve efficiency and boost customer service. Additionally, there is a growing need for repairing existing infrastructure, which can be a potential market for ready-mix concrete firms. Providing customized concrete solutions for specific projects can attract more customers. Educating contractors and construction professionals on the benefits of ready-mix concrete can increase demand and acceptance for the product in the ready-mix concrete market.
The ready-mix concrete market has been negatively affected by the recent coronavirus outbreak. The market has been hampered by severe disruptions in various manufacturing and supply-chain operations due to the precautionary lockdowns. The lockdowns have impacted the various end users of the ready-mix concrete market, with construction activity having slowed down globally and resulting in a considerable reduction in demand for ready-mix concrete. These factors are expected to affect the market's revenue trajectory in the forecast period. However, on a positive note, the government has taken initiatives to boost the building industry, such as creating numerous grants for employees and manufacturers. This will increase demand for construction items. Additionally, the government has begun construction projects in all regions, resulting in the creation of more jobs. These increased government initiatives and a larger workforce in the industry will contribute to market growth.
· In July 2022, Holcim obtained General Beton Romania, a supplier of ready-mix concrete, which aligns with Holcim's goal of driving profitable growth through inventive construction solutions. These solutions include energy-efficient roofing systems and environmentally friendly ECOPact concrete.
· Furthermore, Hanson has strengthened its presence and abilities in the West Midlands area with the inauguration of a new ready-mixed concrete facility in Birmingham in June of 2022. The new plant, which cost millions of dollars, located on Landor Street, can accommodate all concrete requirements, including high volume, specialty mixes, and low carbon concrete.
Transit Mix Concrete, commonly known as Truck-Mixed Concrete, is the popular choice in the ready-mix concrete market. It is highly preferred for construction projects as it is easy to transport and has lower setup costs as compared to central mix concrete. The concrete is prepared at a central batching plant and then carried to the construction site via transit mixer trucks. This type of concrete is versatile and can be used for a wide range of applications, including small residential projects and large-scale commercial and infrastructure projects.
Commercial & Infrastructure
Residential
Industrial
The ready-mix concrete market is dominated by the commercial segment, which is the largest due to urbanization and the establishment of private-sector companies like shopping malls, hotels, and restaurants. These constructions require a quick building process, increasing the demand for the ready-mix concrete market. In the Asia Pacific region, the residential segment is expected to grow steadily due to rising demand for housing sectors, fueled by increasing disposable income levels. Meanwhile, the infrastructure segment is projected to show the fastest growth due to rapid urbanization leading to the development of roads, highways, power constructions, water systems, and other structures. Government schemes and investments in these constructions positively impact market growth. Additionally, the construction of attractive manufacturing plants in developing economies like India is expected to lead to substantial market growth.
The most popular mixer used in the ready-mix concrete market is the Barrel Truck or In-transit mixer. These trucks have a large rotating drum that mixes the concrete while being transported to the construction site. They are highly convenient and efficient in delivering concrete to different construction projects. Although Volumetric mixers are used in the market as well, they are not as common. Volumetric mixers can create customized amounts of concrete on-site by proportioning the correct amounts of different ingredients as needed. This feature makes them more suitable for projects with specific mix requirements or for instances where the concrete mix needs adjustment on-site.
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
The Asia Pacific ready-mix concrete market value is greatly influenced, especially by emerging economies like China, India, and South Korea. China, in particular, is the largest producer of concrete due to the abundance of raw materials and the growing population's high demand. The market is also being fueled by the construction of new manufacturing plants and infrastructure development in developing countries. In North America, the residential and commercial sectors are expected to drive growth in the forecast period due to the demand for single housing units and a strong, disposable economy. Additionally, favorable governmental regulations on construction policies and programs are significantly contributing to market growth in this region. In Europe, the market is predicted to show moderate growth due to the increasing demand for residential structures and industrialization. The infrastructure development projects undertaken by governments are also supporting the growth of the ready-mix concrete market.
CEMEX S.A.B. de C.V.,
SIKA Group
HEIDELBERG CEMENT AG
ACC Limited
Vulcan Materials Company
Barney & Dickenson, Inc.
Holcim Ltd.
Vicat SA
UltraTech Cement Limited
CRH plc
Frequently Asked Questions
The ready-mix concrete market size was valued at $448.0 billion in 2022 and is projected to reach $704.2 billion by 2028, growing at a cagr of 4.5% from 2023 to 2028.
CEMEX S.A.B. de C.V., SIKA Group, HEIDELBERG CEMENT AG, ACC Limited
Asia Pacific dominates the ready-mix concrete market.
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