Global Ready Mixed Concrete Market Size By Application(Residential, Infrastructure, Commercial), By Geographic Scope And Forecast
Report ID: 309189|No. of Pages: 202
Global Ready Mixed Concrete Market Size By Application(Residential, Infrastructure, Commercial), By Geographic Scope And Forecast
Ready Mixed Concrete Market Size and Forecast
Ready Mixed Concrete Market size was valued at USD 725.2 billion in 2021, it is expected to reach USD 1473.9 billion by the end of 2030, growing at a CAGR of 8.2% from 2023 to 2030.
The increasing demand for construction projects in developing economies, the growing preference for ready-to-use concrete solutions, and the emphasis on sustainable construction practices are boosting the growth of the Ready Mixed Concrete (RMC) Market. The Global Ready Mixed Concrete Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Ready Mixed Concrete Market Definition
The Ready Mixed Concrete (RMC) Market refers to the production and sale of concrete that is manufactured at a central batching plant and then transported to the construction site. This type of concrete is known for its consistency and quality, as it is produced under controlled conditions and delivered to the construction site ready for immediate use. Ready-mixed concrete is made up of a mixture of cement, aggregates, water, and additives, which are blended at the batching plant. The mixture is then transported to the construction site in special vehicles, such as concrete mixer trucks, and can be pumped or poured directly into place.
The RMC market is a critical component of the construction industry, as it provides a convenient and efficient solution for the supply of concrete to construction sites. This type of concrete is used in a variety of construction projects, including residential, commercial, and infrastructure development. The market is highly competitive, with numerous companies offering a range of products and services to meet the needs of customers. Some companies specialize in the production and sale of RMC, while others provide related services, such as delivery, pumping, and placement.
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Ready Mixed Concrete Market Overview
The COVID-19 pandemic has had a significant impact on the Ready Mixed Concrete market. The construction industry has been hit hard by the pandemic, with many construction projects postponed or canceled due to lockdowns, travel restrictions, and supply chain disruptions. This has had a direct impact on the demand for RMC, as construction projects are the primary users of the material.
The construction industry is the primary user of RMC, and as the demand for construction projects increases, so does the demand for RMC. The construction of new residential and commercial buildings, as well as infrastructure projects such as roads and bridges, are major drivers of growth in the RMC market. As populations continue to grow and more people move to urban areas, the demand for construction projects, including high-rise buildings, transportation infrastructure, and other urban development projects, is expected to increase, driving demand for RMC. The drivers of growth in the RMC market are linked to the broader trends in the construction industry, including urbanization, sustainability, and technological advancements. As these trends continue to shape the construction industry, the demand for RMC is expected to grow, generating chances for market participants to grow their businesses and provide cutting-edge solutions to address changing consumer needs.
The cost of raw materials used in the production of RMC, such as cement, sand, and aggregates, can vary significantly due to fluctuations in supply and demand, as well as changes in currency exchange rates. These price fluctuations can impact the profitability of RMC producers and make it difficult to predict production costs. While RMC is known for its consistent quality and uniformity, there is a lack of standardization in the industry. This can lead to inconsistencies in the quality of the final product, which can impact customer satisfaction and lead to increased costs for producers.
The use of digital technologies, such as automation and artificial intelligence, can improve the efficiency and accuracy of RMC production and delivery processes. Cost-saving opportunities, increased output, and higher customer satisfaction may result from this. RMC producers can explore opportunities to expand into new markets, such as emerging economies with growing construction industries. They can also consider offering specialized products and services to niche markets, such as decorative concrete for residential and commercial buildings.
Ready Mixed Concrete Market: Segmentation Analysis
The ready-mixed concrete market is segmented by application, and region.
Ready Mixed Concrete Market, By Application
- Residential
- Infrastructure
- Commercial
The commercial segment holds the largest market share in the ready-mixed concrete market. Due to rapid urbanization, this segment is growing worldwide. Besides this, the residential segment is also growing steadily in this market and is expected to get a better position in the forecast period.
Ready Mixed Concrete Market, By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
It can be analyzed that the North American market is anticipated to grow more in the forecast period. The increasing demand for the residential as well as commercial sectors is boosting the growth of ready-mixed concrete in this region. Besides this, favorable government regulations are also supporting growth in this market.
Key Players
The key players in the Ready-mix concrete market are Barney & Dickenson Inc., ACC Limited, Heidelberg Cement AG, Cemex SAB de CV, Vulcan Materials Company, CRH Plc, UltraTech Cement Limited, SIKA Group, Vicat, and Buzzi Unicem SpA.
Key Developments
- In August 2021, EMEX, a global leader in the building materials industry, launched Vertua®, a low-carbon concrete solution that reduces CO2 emissions by up to 70% compared to traditional concrete. This move is in line with CEMEX’s goal of achieving net-zero CO2 emissions by 2050.
- In May 2021, HeidelbergCement, a German multinational building materials company, announced that it had invested in a carbon capture technology that uses waste gases from the cement production process to produce synthetic fuels. This move is in line with HeidelbergCement’s goal of achieving carbon neutrality by 2050.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Barney & Dickenson Inc., ACC Limited, Heidelberg Cement AG, Cemex SAB de CV, Vulcan Materials Company, CRH Plc, UltraTech Cement Limited, SIKA Group, Vicat, and Buzzi Unicem SpA. |
| SEGMENTS COVERED | By Application & By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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