Press release
Ready-Mix Concrete Market Sales to Top Value of US$ $1039.2 billion by 2029
Ready-Mix Concrete Market SWOT Analysis 2022
The ready-mix concrete market is growing at a fast pace and is expected to reach $1039.2 billion by 2029. The market is driven by the increasing demand for construction and infrastructure projects globally.
Global ready-mix concrete consumption is expected to grow significantly in the next decade. By the end of 2029, it is estimated that more than 3,500 Mn cubic meters of ready-mix concrete will be consumed worldwide. This growth is primarily driven by the increasing demand for infrastructure development in developing countries.
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Over the coming years, the global ready-mix concrete market is expected to show a positive outlook, owing to the rising demand from infrastructure as well as residential projects across various geographies.
On the basis of concrete type, the standard concrete segment is expected to account for a prominent share throughout the forecast years, supported by its usage in various applications in sectors such as residential, commercial, infrastructure, etc.
Key Companies-
• CEMEX S.A.B. de C.V.
• HeidelbergCement AG
• LafargeHolcim Ltd.
• CRH plc
• Martin Marietta Inc.
• Vulcan Materials Company
• Vicat S.A.
• Votorantim Cimentos
• Dillon Bros Concrete LLC
• RDC Concrete (India) Pvt. Ltd.
• UltraTech Cement Ltd.
• ACC Limited
• Prism Johnson Limited
• Nuvoco Vistas Corp Ltd.
• Skyway RMC Plants Private Limited
• CONCRETE INDIA
• RayMix Concrete India Pvt Ltd.
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Global Ready-Mix Concrete Market: Dynamics
The construction materials market, primarily ready-mix concrete, has witnessed substantial incremental growth over the recent years. This can be primarily attributed to the economic conditions in numerous countries. The construction industry across emerging economies is anticipated to witness acceleration in various large-scale infrastructural programs, which, in turn, is expected to create public-private partnership opportunities. Thus, increasing governmental spending as well as favorable economic conditions are expected to assist the global ready-mix concrete market over the coming years
However, the global ready-mix concrete standard market faces various challenges such as the on-time delivery of ready-mix concrete at construction sites. The uninterrupted and timely delivery of ready-mix concrete at construction sites is of utmost importance for effective construction operations. Due to the small time window available for the transportation of concrete material, delivering this material in the shortest time is imperative.
The utilization of environmental-friendly (green) products for the manufacturing of ready-mix concrete is found to be one of the key trends in the global ready-mix concrete standard market. For instance, RMCMA, jointly with the Confederation of Indian Industry and Quality Council of India, developed a green product certification for ready-mix concrete.
Global Ready-Mix Concrete Market: Forecast
Among the different concrete types, the flowable fill/CLSM segment accounted for a very small share in the market at the end of 2022. However, its demand is expected to witness prominent growth in the global ready-mix concrete market over the forecast years. The flowable fill/CLSM concrete type is comparatively an economic alternative to compacted granular fill, which saves labor costs, time, as well as equipment.
Considering the regions, developing economies such as India and China are expected to witness substantial growth throughout the forecast years, supported by various governmental initiatives towards development, such as the Bharat Mala Pariyojna, Sagarmala Project, Shanghai urban rail transit expansion, intercity rail network in Eastern Guangdong, etc. The ready-mix concrete market in North America is expected to witness a below-average growth rate over the forecast years.
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Key Questions Answered in the Ready-Mix Concrete Market Report
• How is the Ready-Mix Concrete market expected to grow over the projected period?
• What direction is the Ready-Mix Concrete market expected to take in terms of volume and value during the forecast period?
• What is the impact of macroeconomic factors on the Ready-Mix Concrete market in future?
• What are the key market drivers in the Ready-Mix Concrete market?
• What are significant opportunities and improvement areas for Ready-Mix Concrete manufacturers?
• What are the key developments and trends taking over the Ready-Mix Concrete market?
• Which are the emerging countries that are expected to create significant growth opportunities in the Ready-Mix Concrete market?
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