Global Ready-Mix Concrete Market, By Type (Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete), Production (On-site, Off-site), Mixer Type (Volumetric, Barrel Truck/In-transit mixer), Application (Commercial Building, Residential Building, Infrastructure, Industrial Utilities) – Industry Trends and Forecast to 2029
Market Analysis and Size
The ready-mix concrete market has gained immense popularity due to its higher convenience, ease of use, and improved quality and its utilization as a substitute for traditional concrete. In addition, several businesses are working on the creation of mobile ready-mix concrete machines for use on major construction sites so that concrete may be delivered on time. As a result of these determinants, the market is anticipated to grow significantly over the forecast period.
Global Ready-Mix Concrete Market was valued at USD 181.14 billion in 2021 and is expected to reach USD 1427.31 billion by 2029, registering a CAGR of 8.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete), Production (On-site, Off-site), Mixer Type (Volumetric, Barrel Truck/In-transit mixer), Application (Commercial Building, Residential Building, Infrastructure, Industrial Utilities)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Arkema (France), Sika AG (Switzerland), BASF SE (Germany), GCP Applied Technologies Inc., (U.S.), MAPEI S.p.A. (Italy), Kao Corporation (Japan), M&I Materials Limited (U.K), Dupont (U.S.), SOLVAY (Belgium), W. R. Grace & Co.-Conn. (U.S.), Setral Chemie GmbH (Germany), Enaspol a.s (Czech Republic), CAC Admixtures (India), CHRYSO GROUP (France), Ashland Inc (U.S.) and Rhein-Chemotechnik GMBH (Germany)
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Market Opportunities
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Market Definition
The ready-mix concrete refers to accumulation of sand, water and aggregates. The manufacturing of this mix, which is delivered through a transit mixer, gives accurate concrete to the construction that makes it sturdy and long lasting. These are extensively used when there is lack of space for aggregate stockpiles and mixing plant. They are also utilized for small construction projects where limited quantity or aggregate stockpiles is needed.
Ready-Mix Concrete Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Construction and Infrastructural Projects
The need for ready-mix concrete is increasing as the number of infrastructure projects, such as bridges, roads, dams, and airport expansion projects, grows, particularly in emerging countries. As a result, the worldwide ready-mix concrete industry is predicted to grow rapidly over the forecast period. The market is also benefiting from increased government spending on construction, manufacturing, and power plants.
The factors such as the rapid population growth and growing urbanization will further propel the growth rate of the ready-mix concrete market. Additionally, the easy pouring methods involved in ready-mix construction will also drive market value growth. The expansion of the automotive industry along with the development in infrastructure segments across the globe are other market growth determinants which are projected to bolster the growth of the market.
Opportunities
- Investments and its Usage as a Substitute
Furthermore, the increasing investments in the construction industry extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, due to its great convenience, improved quality, and ease of use, the product is frequently utilized as a substitute for unusual concrete, further expanding the future growth of the ready-mix concrete market.
Restraints/Challenges
- High Investments as well as the Product Costs
The requirement for huge sums of money to be invested initially in the establishment of ready-mix concrete enterprises limits the entry of new participants into the market. Another major stumbling block that has recently been identified is the high cost of ready-mix concrete, which prevents most consumers with limited income and resources from installing these systems.
- Lower Awareness
Another important factor impeding the growth of the ready-mix concrete treatment market is a lack of understanding and awareness among the general public about these systems, which were just recently established and have limited public outreach, as seen by the low number of sales and installations. Therefore, this factor will challenge the ready-mix concrete market growth rate.
This ready-mix concrete market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ready-mix concrete market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Ready-Mix Concrete Market
The recent outbreak of coronavirus had a negative impact on the ready-mix concrete market. The severe disruptions in various manufacturing as well as the supply-chain operations due to the various precautionary lockdowns hampered the market. During the COVID-19 outbreak's lockdown, the various end users of ready-mix concrete market were impacted. Construction activity had slowed around the world, resulting in a considerable reduction in the demand for ready-mix concrete. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.
On the brighter side, the government has also taken other initiatives to boost the building industry, including the creation of numerous grants for employees and manufacturers, which will boost demand for construction items. The government has also started construction projects in all regions, which would result in more jobs being created. Increased government initiatives and a larger workforce in the industry will contribute to future market growth.
Global Ready-Mix Concrete Market Scope
The ready-mix concrete market is segmented on the basis of type, production, mixer type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Transit Mixed Concrete
- Shrink Mixed Concrete
- Central Mixed Concrete
Production
- On-site
- Off-site
Mixer Type
- Volumetric
- Barrel Truck/In-transit mixer
Application
- Commercial Building
- Residential Building
- Infrastructure
- Industrial Utilities
Ready-Mix Concrete Market Regional Analysis/Insights
The ready-mix concrete market is analyzed and market size insights and trends are provided by country, type, production, mixer type and application as referenced above.
The countries covered in the ready-mix concrete market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the increase in new infrastructure projects within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the surge in infrastructural developments and activities, government support for improvisation of road infrastructure in India and China to grow industrial sector within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Ready-Mix Concrete Market Share Analysis
The ready-mix concrete market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ready-mix concrete market.
Some of the major players operating in the ready-mix concrete market are
- Arkema (France)
- Sika AG (Switzerland)
- BASF SE (Germany)
- GCP Applied Technologies Inc., (U.S.)
- MAPEI S.p.A. (Italy)
- Kao Corporation (Japan)
- M&I Materials Limited (U.K)
- Dupont (U.S.)
- SOLVAY (Belgium)
- W. R. Grace & Co.-Conn. (U.S.)
- Setral Chemie GmbH (Germany)
- Enaspol a.s (Czech Republic)
- CAC Admixtures (India)
- CHRYSO GROUP (France)
- Ashland Inc (U.S.)
- Rhein-Chemotechnik GMBH (Germany)
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