Ready-Mix Concrete Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4344
Ready-Mix Concrete Market size is likely to witness significant growth in the coming years owing to rapid development in the global construction industry. Global construction industry has witnessed significant growth over the last two decades. It was recorded at over USD 10 trillion in 2017 and is likely to reach USD 13 trillion by 2022. The U.S. has witnessed substantial development in its construction spending. In 2018, the overall construction spending was recorded more than USD 1,250 billion, with nearly 40% of the amount spent on residential construction. The construction spending in the U.S. has increased by more than USD 200 billion between 2010 and 2018 as it can be ascribed to rising population, higher standard of living, etc. Another factor driving the global construction industry is rapidly increasing construction activities in Asia Pacific region. In 2013, Asia Pacific accounted for more than 40% of the global construction spending. In the same period, construction spending by China, Japan and India combinedly accounted for more than USD 2,900 billion.
Recently, around 300 major construction projects were unveiled in Beijing which includes 100 projects for high-end technological industries, 100 projects for improvement of people's livelihoods and 100 infrastructure projects. Smart City mission, Housing for All, NESIDS (North East Special Infrastructure Development Scheme), Pradhan Mantri Awas Yojana are some of the initiatives from Government of India to boost the construction and infrastructure development in the country. Traditional concrete is being substituted by RMC owing to better quality, ease of use, economy and greater convenience. Moreover, low inventory cost, wastage reduction, effective utilization associated with RMC results in lowered project expenditure and will prosper the product demand in coming years. The product enhances durability and sustainability of the structure. Increasing population, rapid urbanization, growing industrialization, economic development are some factors prosper the global construction industry, which in turn, will propel the demand for ready-mix concrete market in coming years.
Based on product, the market is categorized into transit mixed concrete, shrink mixed concrete and central mixed concrete. Transit ready-mix concrete market is likely to have substantial industry share during the forecast timeframe. It is also referred as dry-batch or truck mixed concrete as all the basic required ingredients are directly charged into truck mixer. It avoids the problem of slump loss and premature hardening. Shrink mixed RMC will have high growth rate as it enhances the truck-load capacity and retains the benefits associated with transit RMC.
Based on application, ready-mix concrete market is categorized into residential, commercial, industrial and institutional construction. Commercial application category is likely to have significant market share throughout the forecast timeframe. It can be ascribed to increasing commercial construction in the tourism-based economies, rising spending on commercial construction in the U.S., etc. Residential application segment is likely to have high growth during the forecast timeframe. It can be attributed to increasing residential construction in developed as well as developing countries due to rising population, development in spending power, etc.
Asia Pacific region is likely to have substantial share in ready-mix concrete market during the forecast timeframe. It can be attributed to increasing infrastructural projects in India, China, Thailand and Singapore. Favorable government initiatives regarding industrial and construction development coupled with development in regional road infrastructure is likely to have positive effect on the regional construction industry. Middle East & Africa region will witness significant growth during the forecast timeframe. UAE and Saudi Arabia have attracted heavy investments for the infrastructure development. Additionally, rising construction of commercial as well as residential complexes will also prosper the regional demand for ready-mix concrete market in the coming years.
Some of the key players in ready-mix concrete market are LafargeHolcim, Vicat S.A., Buzzi Unicem S.p.A., CEMEX S.A.B. de C.V., ACC Ltd., R.W. Sidley Inc., HeidelbergCement, UltraTech Cement, SIKA group, etc. These players have adopted several strategies such as mergers & acquisitions, focused research & development activities, etc. to strengthen their position in the market. For instance, Heidelberg Cement acquired Italcementi Group in 2016 and enhanced its reputation in the market.
By Type, 2014-2025
- Transit mixed concrete
- Shrink mixed concrete
- Central mixed concrete
By Application, 2014-2025
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Buzzi Unicem S.p.A.
- Vicat S.A.
- ACC Ltd.
- CEMEX S.A.B. de C.V.
- R.W. Sidley Inc.
- Heidelberg Cement
- UltraTech Cement
- SIKA group
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