$4550
The ready mix concrete market size is expected to grow from US$ 844.10 billion in 2022 to US$ 1,118.18 billion by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028.
Ready mix concrete is manufactured in a batch plant as per each specific requirement on the job site. Transit mixed concrete, shrink mixed concrete, and central mixed concrete are some of the commonly used types of ready mix concrete. Ready mix concrete is mixed in a controlled environment and can be utilized for an array of projects. Ready mix concrete is sustainable and has high durability, leading to its high demand in different applications.
In 2021, Asia Pacific held the largest revenue share of the global ready mix concrete market. The region has been noticed as one of the prominent markets for the utilization of ready mix concrete owing to the surge in construction activities. The growing number of ready mix concrete uses in numerous residential and non-residential sectors is anticipated to continue to increase the demand for ready mix concrete in Asia Pacific. Moreover, government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India.
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Ready Mix Concrete Market: Strategic Insights
Market Size Value in US$ 844.10 Billion in 2022 Market Size Value by US$ 1,118.18 Billion by 2028 Growth rate CAGR of 4.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Ready Mix Concrete Market: Strategic Insights
| Market Size Value in | US$ 844.10 Billion in 2022 |
| Market Size Value by | US$ 1,118.18 Billion by 2028 |
| Growth rate | CAGR of 4.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Ready Mix Concrete Market
Before the COVID-19 pandemic, the ready mix concrete market was mainly driven by its increasing use in residential and commercial applications. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries in the wake of the COVID-19 pandemic. The building & construction industry was hit hard, which negatively impacted ready mix concrete consumption in different regions. Moreover, the supply chain disruptions halted the manufacturing and distribution of building materials. Builders experienced rising costs and delays in imported raw materials and off-site building materials due to many factories being shut for lengthy periods. The building construction was almost negligible in Europe due to the shortage of laborers and disrupted supply chain of raw materials.
However, in 2021, various countries began relaxing restrictions. The global marketplace begun recovering from the losses. Manufacturers were permitted to operate at full capacity, helping them overcome the supply gap. In Europe, various industries, including the building & construction industry, are back on track with supply constraints affecting these industries being resolved gradually. Rising demand for ready mix concrete across diverse industrial applications and growing initiatives of government bodies to combat COVID-19 are expected to substantially promote the ready mix concrete market globally.
Global Ready Mix Concrete Market Breakdown – by Region
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Market Insights
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Rise in Commercial and Residential Construction Projects
Ready mix concrete is used in nearly all construction projects owing to benefits such as reduced construction time, low maintenance cost, and versatility. The rapid population growth has urged government bodies to promote reforms in urban planning. For instance, Dubai’s population increased by 0.1 million from 2020 to 2022, with the government projection of 5.8 million by 2040. The country’s economic stability, better connectivity, low cost of energy, and government diversification strategy are the factors responsible for driving investors and customers to invest in residential and commercial properties. According to the European Union, the European Regional Development Fund (ERDF) allocated 8% to strengthen sustainable urban development and support the cohesion policy's urban dimension. The European Commission’s renovation wave strategy involves affordable housing initiatives and aims for green buildings. All these factors are positively impacting the ready mix concrete market growth.
End Use-Based Insights
Based on end use, the global ready mix concrete market is segmented into residential, commercial, and others. The ready mix concrete market share for the residential segment was largest in 2021. The residential sector includes private housing, apartment, and buildings. The investments and development activities in the residential infrastructure sector can be attributed to the rising population and urbanization. Moreover, favorable government policies in many countries have led to the establishment of residential buildings and ready-mix concrete manufacturing units, which is anticipated to upscale the demand for ready-mix concrete from the residential sector.
Ready Mix Concrete Market, by End Use – 2021 and 2028
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A few players operating in the global ready mix concrete market include ACC Limited; Vicat SA; LafargeHolcim; Buzzi Unicem S.p.A; BARNEY AND DICKENSON INC.; R.W. Sidley, Inc.; CEMEX S.A.B. DE C.V.; HEIDELBERGCEMENT AG; ULTRATECH CEMENT LTD.; and CROWN CEMENT PLC. Players operating in the ready mix concrete market are focusing on providing high-quality products to fulfill customer demands. They are also focusing on strategies such as investments in research and development activities and mergers & acquisitions.
Report Spotlights
- Progressive industry trends in the ready mix concrete industry to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2020 to 2028
- Estimation of global demand for ready mix concrete
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the ready mix concrete market growth
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The ready mix concrete market size at various nodes
- Detailed overview and segmentation of the market, as well as the ready mix concrete industry dynamics
- The ready mix concrete market size in various regions with promising growth opportunities
The global ready mix concrete market is segmented by end use into residential, commercial, and others.
Company Profiles
- ACC Limited
- Vicat SA
- LafargeHolcim
- Buzzi Unicem S.p.A
- BARNEY AND DICKENSON INC.
- R.W. Sidley, Inc.
- CEMEX S.A.B. DE C.V.
- HEIDELBERGCEMENT AG
- ULTRATECH CEMENT LTD.
- CROWN CEMENT PLC.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Bangladesh, Brazil, Canada, China, Egypt, France, Germany, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, Nigeria, Poland, Saudi Arabia, South Africa, South Korea, Spain, Taiwan, Thailand, United Arab Emirates, United Kingdom, United States, Vietnam
Frequently Asked Questions
A few players operating in the global ready mix concrete market include ACC Limited; Vicat SA; LafargeHolcim; Buzzi Unicem S.p.A; BARNEY AND DICKENSON INC.; R.W. Sidley, Inc.; CEMEX S.A.B. DE C.V.; HEIDELBERGCEMENT AG; ULTRATECH CEMENT LTD.; and CROWN CEMENT PLC.
In 2021, Asia Pacific held the largest share of the global ready mix concrete market. The region has been noticed as one of the prominent markets for the utilization of ready mix concrete owing to the surge in construction activities.
The residential segment held the largest share of the global ready mix concrete market in 2021. The residential sector includes private housing, apartment, and buildings. The favorable government policies in many countries have led to the establishment of residential buildings and ready-mix concrete manufacturing units, which is anticipated to upscale the demand for ready-mix concrete from the residential sector.
The commercial segment held the largest share of the global ready mix concrete market in 2021. The high demand for precast concrete by the commercial sector, owing to the rising investment in commercial construction projects is anticipated to drive the commercial segment during the forecast period.
Asia Pacific is estimated to register the fastest CAGR in the global ready mix concrete market over the forecast period. The growing number of ready mix concrete uses in numerous residential and non-residential sectors is anticipated to continue to increase the demand for ready mix concrete in Asia Pacific.
The projected growth of the market during the forecast period is attributed to rise in commercial and residential construction projects and high government spending on infrastructure projects.
The List of Companies - Ready Mix Concrete Market
- ACC Limited
- Vicat SA
- LafargeHolcim
- Buzzi Unicem S.p.A
- BARNEY AND DICKENSON INC.
- R.W. Sidley, Inc.
- CEMEX S.A.B. DE C.V.
- HEIDELBERGCEMENT AG
- ULTRATECH CEMENT LTD.
- CROWN CEMENT PLC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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