Ready-Mix Concrete Market - Forecast(2023 - 2028)

Report Code: CMR 97192 Report Format: PDF + Excel

Ready-Mix Concrete Market Overview

Ready-mix concrete market size is forecast to reach US$1.2 trillion by 2026, after growing at a CAGR of 8.1% during 2021-2026. Ready-mix concrete manufacturing and distribution through a transit mixer help the construction projects to incorporate precise concrete, making it durable, solid, and long-lasting. Ready-mix concrete is largely used in the construction sector for applications such as batching plants, asphalt concrete, concrete pumps, inline bins, and more. Globally, the flourishing commercial and residential sector is the prime growth driver of the ready-mix concrete market.  In addition, the residential and commercial building sectors are booming as a result of government initiatives such as "Housing for All," "One Belt One Road," and "RIBA Action Plan", which is anticipated to play a key role in driving the ready-mix concrete industry during the forecast period.

COVID-19 Impact

Numerous building and construction activities in various regions have halted their operations, owing to the coronavirus pandemic. No new orders can be taken over neither the existing order production could be completed, which is adversely affecting the ready-mix concrete market growth during the outbreak. There has been a temporary suspension of building and construction activities such as batching plants, asphalt concrete, concrete pumps, inline bins, and more in various regions. Due to these factors, construction production has decreased dramatically during the pandemic; for example, the construction sector was 11.6 percent lower in July 2020 than it was in February 2020, according to the Office for National Statistics. In August 2020, building production was 10.8 percent lower than it had been in February 2020. The Corona Virus pandemic was to account for this drop in value. With the decrease in building and construction operation, the demand for concrete has significantly fallen, which is having a major impact on the ready-mix concrete market growth.

Report Coverage

The report: “Ready-Mix Concrete Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the ready-mix concrete Industry.
By Production: On-Site, Off-Site
By Type: Transit Mix Concrete, Central Mix Concrete, and Shrink Mix Concrete
By Application: Walls, Piles, Tiles, Shotcrete, Trenches, and Others
By End-Use Industry: Residential Construction (Private Dwellings, Apartments, and Row Houses), Commercial Construction (Hospitals, Schools, Hotels, Gyms, Shopping Malls, Retails, Banks, and Others), Infrastructure Construction (Roadways, Bridges, Pavements, Highways, Tunnels, Airports, and Others), and Industrial Construction (Oil Refineries, Manufacturing Plants, Chemical Processing Plants, and Others)
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

Key Takeaways

  • Asia-Pacific dominates the ready-mix concrete market, owing to the increasing foreign direct investment (FDI) in the region. In completed projects for operations and management of townships, malls/shopping complexes, and business constructions in India, 100 percent FDI under the automatic route is permitted. 
  • With the rising migration of people towards urban areas, there is a strong need to develop residential homes, which will have a positive impact on the construction industry and thereby accelerating the demand for the ready-mix concrete market. 
  • The Covid-19 outbreak has severely affected the construction industry as the majority of the workers have migrated to their hometown and governments have temporarily suspended construction of batching plant, asphalt concrete, concrete pumps, inline bins, and more, which is affecting the ready-mix concrete market growth. 

Figure: Asia-Pacific Ready-Mix Concrete Market Revenue, 2020-2026 (US$ Billion)
Ready-Mix Concrete Market
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Ready-Mix Concrete Market Segment Analysis – By Type

The Transit Mix Concrete segment held the largest share in the ready-mix concrete market in 2020. All the raw materials in the transit mix concrete are loaded directly into the truck mixer. There is no plant mixer involved. Three variations of transit mixed concrete are available, such as mixed at the job site, mixed in transit, mixed in the yard. The concrete transit mix is processed under controlled conditions, thus contributing to the reduction of dust emissions. Transit-mixes isolate water from the cement and aggregate and enable rapid mixing of the concrete before use at the worksite. Transit-mixing also eliminates the issues of early hardening and slump failure. Shrink mix concrete demand is rising due to an increase in infrastructure projects and housing and commercial buildings, especially in China and India, which is further expected to provide lucrative opportunities for the ready-mix concrete market expansion.

Ready-Mix Concrete Market Segment Analysis – By End-Use Industry

The residential construction segment held the largest share in the ready-mix concrete market in 2020 and is growing at a CAGR of 13.7% during 2021-2026, owing to increasing usage of ready-mix concrete in the residential industry for applications such as batching plant, asphalt concrete, concrete pumps, inline bins, and more. Because of the precision needed when mixing it, ready-mix concrete is a good choice of concrete for construction sites. RMC is known for its quality and longevity due to the essence of RMC being produced in particular mixing plants. The consistent production of RMC in mixing plants allows for mechanized operations. This helps the concrete to have a higher performance. The efficiency of RMC production means that it needs less energy in its production. This helps to reduce the overall energy needed for RMC output, making it a more environmentally friendly concrete alternative, which is the major factor driving the demand for ready-mix concrete in the residential construction market during the forecast period.

Ready-Mix Concrete Market Segment Analysis – By Geography

Asia-Pacific region held the largest share in the ready-mix concrete market in 2020 up to 42% and is growing at a CAGR of 10.9% during 2021-2026, owing to the increasing demand for ready-mix concrete from the residential construction industry in the region. The building and construction industry is booming in countries like India and Singapore, thanks to economic reforms, infrastructure growth, and rising individual per capita income. The growing population necessitates the expansion of the residential and commercial sectors. In India, the government has introduced initiatives such as "100 smart cities" and "Housing for All by 2022," which is expected to boost the Indian residential construction market over the forecast period. According to the International Trade Administration (ITA), China is the world’s largest construction market and the Chinese construction industry is forecast to grow at an annual average of 5% in real terms between 2019 and 2023. Thus, with the expanding residential construction industry, the demand for ready-mix concrete will also subsequently increase, which is anticipated to drive the ready-mix concrete market in the APAC region during the forecast period.

Ready-Mix Concrete Market – Drivers

Government Initiatives Bolstering the Market Growth

Due to its features and properties, such as longevity, durability, fire resistance, wind resistance, and low long-term cost, ready-mix concrete is favored in residential construction. For example, in June 2020, the Government of Canada launched a US$30 million rebate program that will help homeowners save large sums of money on building and renovation projects. Also, the goal of the European Construction 2020 Action Plan was to stimulate favorable investment conditions. Furthermore, the Dutch construction industry is benefiting from the Government-wide Circular Economy Initiative, which aims to create a circular economy in the country by 2050. Building and development activities are also increasing as a result of various government initiatives, such as Foreign Direct Investments (FDI). Government investments like these are propelling the building industry in different parts of the world. Thus, the expanding building and construction sector acts as a driver for the market. 

Flourishing Commercial Construction Sector

China is also attempting to move away from large-scale infrastructure projects and into projects that are more oriented to the local community. Projects including water supply and treatment plants, road improvements, urban metro systems, and public parks are all part of the 13th Five-Year Plan (FYP), which aims to reduce traffic and emissions, rebuild dilapidated housing, and encourage the growth of small and medium-sized towns. Japan's Kansai International Airport is preparing to spend around 100 billion yen (US$911 million) by 2025 to upgrade the larger terminal, hoping to improve capacity for foreign flights at the country's No. 2 hub. Furthermore, the objective of the Indian Government is to make air travel accessible, boost regional connectivity and establish regional airports. The Union Budget presented in February 2020 proposed the development by 2024 of 100 new airports to help boost air traffic under the Centre's Udan scheme. Thus, it is anticipated that with the flourishing commercial construction industry, there will be an upsurge in the demand for ready-mix concrete, which will subsequently drive the ready-mix concrete market growth. 

Ready-Mix Concrete Market – Challenges

Drawbacks Associated with the Ready-Mix Concretes

The ready-mix concrete requires a huge initial investment, and they are often not suitable for small projects as less quantity of concrete is required in minor projects. The ready-mix concrete posses’ problems as labor should be ready at the site to cast the concrete in position without any delay to avoid slumps in the mixture. In addition, ready-mix concrete has limited time and should be used within 210 minutes of batching the plant, which limits its applications and usage. Furthermore, ready-mix concrete needs an effective transportation system from the batching plant to the job site. These factors are expected to hinder the growth of the ready-mix concrete market during the forecast period.

Ready-Mix Concrete Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the ready-mix concrete market. Major players in the ready-mix concrete market are CEMEX S.A.B. de C.V., ACC Ltd., Barney and Dickenson Inc., UltraTech Cement, Buzzi Unicem S.p.A., Vicat S.A., Lafarge R.W., Sidley Inc., and Holcim Ltd.

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1. Ready-Mix Concrete Market- Market Overview
    1.1 Definitions and Scope
2. Ready-Mix Concrete Market- Executive Summary
    2.1 Key Trends by Production
    2.2 Key Trends by Type
    2.3 Key Trends by Application
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Ready-Mix Concrete Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Ready-Mix Concrete Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5.Ready-Mix Concrete Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Ready-Mix Concrete Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Ready-Mix Concrete Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Ready-Mix Concrete Market– By Production (Market Size -US$ Million/Billion)
    8.1 On-Site
    8.2 Off-Site
9. Ready-Mix Concrete Market– By Type (Market Size -US$ Million/Billion)
    9.1 Transit Mix Concrete
    9.2 Central Mix Concrete
    9.3 Shrink Mix Concrete
10. Ready-Mix Concrete Market– By Application (Market Size -US$ Million/Billion)
    10.1 Walls
    10.2 Piles
    10.3 Tiles
    10.4 Shotcrete
    10.5 Trenches
    10.6 Others
11. Ready-Mix Concrete Market– By End-Use Industry (Market Size -US$ Million/Billion)
    11.1 Residential Construction
        11.1.1 Private Dwellings
        11.1.2 Apartments
        11.1.3 Row Houses
    11.2 Commercial Construction
        11.2.1 Hospitals
        11.2.2 Schools
        11.2.3 Hotels
        11.2.4 Gyms
        11.2.5 Shopping Malls
        11.2.6 Retails
        11.2.7 Banks
        11.2.8 Others
    11.3 Infrastructural Construction
        11.3.1 Roadways
        11.3.2 Bridges
        11.3.3 Pavements
        11.3.4 Highways
        11.3.5 Tunnels
        11.3.6 Airports
        11.3.7 Others
    11.4 Industrial Construction
        11.4.1 Oil Refineries
        11.4.2 Manufacturing Plants
        11.4.3 Chemical Processing Plants
        11.4.4 Others
12. Ready-Mix Concrete Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Ready-Mix Concrete Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Ready-Mix Concrete Market – Market Share Analysis Premium
    14.1 Market Share at Global Level - Major companies
    14.2 Market Share by Key Region - Major companies
    14.3 Market Share by Key Country - Major companies
    14.4 Market Share by Key Application - Major companies
    14.5 Market Share by Key Product Type/Product category - Major companies
    14.6 Company Benchmarking Matrix - Major Comapnies 
15. Ready-Mix Concrete Market – Key Company List by Country Premium Premium
16. Ready-Mix Concrete Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
    "*Financials would be provided on a best efforts basis for private companies"