Concrete Market Industry Revenue to Surpass $972.04 billion by 2030 | CEMEX, S.A.B. de C.V., CRH, Forterra

The construction of all infrastructures requires the use of concrete for building purposes, which can take the form of either ready-mix concrete or precast products and elements. The revenue generated from the sales of these products represents the market size of the concrete market.

An increase in government expenditures for the development, reconstruction, and repair of infrastructures in various countries results in a higher demand for ready-mix concrete and precast products and elements. Furthermore, these concrete solutions reduce construction time, thereby saving project costs and timelines. Moreover, they prove to be cost-effective and minimize raw material wastage.

The concrete market was valued at $167.7 billion in 2020, and is expected to reach $972.0 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030.

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Moreover, advancements in manufacturing technology contribute to boosting production quality and capacity, thus expectedly driving market growth.

Nevertheless, the initial investment costs for setting up ready-mix concrete plants and precast production facilities are substantial. Consequently, customers tend to purchase products in bulk at discounted rates. Additionally, there has been a surge in environmental awareness, prompting the adoption of sustainable and eco-friendly construction materials for building houses and offices.

Top Players:
The major players profiled in the concrete market include CEMEX, S.A.B. de C.V., CRH, Forterra, Heidelbergcement AG, Holcim, Shay Murtagh Precast Ltd, Sika AG, Votorantim S.A., Weckenmann Anlagentechnik GmbH & Co. KG, and Wells Concrete. Major companies in the market have adopted strategies such as business expansion, acquisition, product launch, and collaboration to offer better products and services to customers in the concrete market.

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The reinforced concrete segment to maintain its leadership status throughout the forecast period

Based on application, the reinforced concrete segment held the highest market share in 2020, accounting for 80% of the global concrete market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to its high tensile strength and durability. Moreover, the non-reinforced concrete segment is projected to manifest the highest CAGR of 5.2% from 2021 to 2030, owing to development in technology of non-reinforced concrete manufacturing.

The residential buildings segment to maintain its lead position during the forecast period

Based on end use industry, the residential buildings segment accounted for the largest share in 2020, contributing to more than two-fifths of the global concrete market, and is projected to maintain its lead position during the forecast period. This is due to its urbanization in developing countries. However, the dams & power plants segment is expected to portray the largest CAGR of 5.4% from 2021 to 2030.

Asia-Pacific, followed by Europe, LAMEA, and North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe, LAMEA, and North America, held the highest market share in terms of revenue 2020, accounting for 80% of the global concrete market. This is owing to industrialization and urbanization in developing countries of the region. Moreover, the LAMEA region is expected to witness the fastest CAGR of 5.5% during the forecast period, owing to rapid development programs in the region.

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Key Findings Of The Study

By concrete type, the ready-mix concrete segment was the highest revenue contributor in 2020.
By application, the reinforced concrete segment was the highest revenue contributor in 2020.
By end-user industry, the residential buildings segment was the highest revenue contributor in 2020.
By region, Asia-Pacific generated the highest revenue in 2020.

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