Ready Mix Concrete Global Market Report 2024 - Business Growth, Top Companies, Industry Analysis And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Ready Mix Concrete Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The ready mix concrete market size has grown strongly in recent years. It will grow from $804.58 billion in 2023 to $874.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increasing population, rise in residential construction, growing demand for high-performance concrete, increasing use of recycled materials.

The ready mix concrete market size is expected to see strong growth in the next few years. It will grow to $1162.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising demand for sustainable and eco-friendly construction materials, growing demand for self-consolidating concrete, increasing government investments, growing awareness of the benefits of ready-mix concrete, growing demand for customized concrete. Major trends in the forecast period include advancements in technology and automation.

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Market Drivers and Trends:

The increase in demand for infrastructure maintenance and repairs is expected to propel the growth of the ready-mix concrete market going forward. Infrastructure maintenance and repairs refer to the maintenance, construction, or repair of infrastructure components such as irrigation systems, roads, paths, buildings, fences and walls, among others. Ready-mix concrete maintains infrastructure by repairing and renovating buildings, roads and bridges. It is frequently used to mend cracked concrete structures, fill potholes and restore damaged concrete surfaces. For instance, in February 2023, according to the Department for Business, Energy and Industrial Strategy, a UK-based government department, quarterly construction production in the UK increased by 0.3% in quarter 4 (Oct. to Dec.) 2022 compared to quarter 3 (July to Sept.) 2022, with increases in both new work (0.4%) and repair and maintenance (0.1%). Further, in 2022, the annual production of construction climbed by 5.6% compared to 2021. Therefore, the increase in demand for infrastructure maintenance and repairs is driving the growth of the ready-mix concrete market.

Major companies operating in the ready-mix concrete market are focused on developing innovative products, such as pre blended mixture to sustain their position in the market. A pre-blended mixture is a combination of many elements that have been combined in advance to form a single ingredient. For instance, in March 2023, ACC Limited, an India-based cement and ready-mixed concrete manufacturer, launched Bagcrete, an innovative concrete solution and a pre-blended mixture of cement, sand and aggregates. The product's design focuses on providing compressive strength (10 MPa to 80 MPa), workability retention and convenience of insertion. This unique concrete solution increases productivity by being readily carried in bags, making it perfect for remote job sites and maintenance projects. Two types of ACC Bagcrete variants are available, including dry-mix and wet-mix. The dry mix is pre-blended concrete that requires only the addition of water to be used immediately. Wet-Mix is ready-to-use concrete that has already been mixed and doesn't need to be mixed again before use.

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Major Key Players of the Market:

Holcim Group, Heidelberg Cement AG, CEMEX S.A.B. de C.V, UltraTech Cement Ltd., Vulcan Materials Co., Martin Marietta Materials Inc., CRH PLC, Cementir Holding NV, Argos SA, Titan America LLC, Thomas Concrete Group, Buzzi Unicem SpA, Ash Grove Cement Company, Irving Materials Inc., R.W. Sidley Inc., CalPortland Company, Prairie Material, Ozinga Bros Inc., BuzziUnicem S.p.A, Chaney Enterprises LP, St. Marys Cement Group, Maschmeyer Concrete Company, Don Chapin Co., Norwalk Concrete Industries Inc., Leesburg Concrete Company.

Ready Mix Concrete Market 2024 Key Insights:

• The ready mix concrete market is expected to grow to $1162.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Growing Demand For Infrastructure Maintenance Boosts Ready-Mix Concrete Market
• Leading Companies Innovate With Pre-Blended Mixture Solutions In Ready-Mix Concrete Market
• Asia-Pacific was the largest region in the ready-mix concrete market in 2023

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