Ready-Mix Concrete Market to Grow at a CAGR of 4.5% and will Reach $704.2 billion by 2030

Increase in demand for versatile building materials and rise in concern toward robust construction drive the growth of the global ready-mix concrete market. Based on application, the commercial & infrastructure segment generated the highest share in 2020. By region, LAMEA would grow at the fastest CAGR by 2030.

The global ready-mix concrete market was estimated at $448.0 billion in 2020 and is expected to hit $704.2 billion by 2030, registering a CAGR of 4.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

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Increase in demand for versatile building materials and rise in concern toward robust construction drive the growth of the global ready-mix concrete market. Moreover, construction companies are adopting environment-friendly and cost-effective housings & buildings to ensure the highest standards and uniform quality, which in turn increased the demand for ready-mix concrete even more, thus supplementing the market growth.

Covid-19 Scenario-
Construction activities across the world had slowed down during the period, and there was a steep decline in demand for ready-mix concrete, which impacted the market negatively.
However, the market has almost recovered at a full pace.

The global ready-mix concrete market is analyzed across type, application, mixer type, and region. Based on type, the transit mix concrete segment contributed to nearly three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The shrink mix concrete segment, however, would exhibit the fastest CAGR of 5.2% during the forecast period.

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Based on application, the commercial & infrastructure segment generated the highest share in 2020, accounting for more than half of the global market. The residential segment, on the other hand, would also cite the fastest CAGR of 5.1% from 2021 to 2030.

Based on region, the market across Asia-Pacific held the major share in 2020, garnering more than four-fifths of the global market. LAMEA, simultaneously, would manifest the fastest CAGR of 5.3% throughout the forecast period.

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The key market players analyzed in the global ready-mix concrete market report include Barney & Dickenson, Inc., CEMEX S.A.B. de C.V., CRH plc, Vulcan Materials Company, Holcim Ltd., SIKA Group, Vicat SA, ACC Limited, UltraTech Cement Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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