"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Ready-Mix Concrete Market Size, Share & Industry Analysis, By Type (Transit Mix, Central Mix, and Shrink Mix), By Application (Residential, Commercial, and Infrastructure), and Regional Forecast, 2024-2032

Last Updated: November 04, 2024 | Format: PDF | Report ID: FBI103281

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global ready-mix concrete market size was USD 922.39 billion in 2023 and is projected to grow from USD 998.69 billion in 2024 to USD 2,006.52 billion by 2032 at a CAGR of 9.1% during the forecast period. Asia Pacific dominated the ready-mix concrete market with a market share of 35.22% in 2023. Moreover, the ready-mix concrete market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 475.30 billion by 2032, driven by rising demand for residential and commercial sectors in the U.S.


Ready-mix concrete (RMC) is a material deployed in construction. It is composed of cement (cement paste) and fine aggregates such as sand and coarse aggregates mixed along with water that cures with time. Aggregate consists of big chunks of material in a concrete mix that includes coarse gravel or crushed rocks, such as limestone or granite, with finer material, such as sand. There are various types of cement used in making concrete that includes hydraulic cement or Portland cement. The rising consumption of products for faster and easier construction processes is supporting the market growth.


Moreover, additives such as super plasticizers or pozzolans are included in the mixture to improve the properties of the wet mix or the finished material. Most concrete is usually poured along with reinforcing materials such as rebar rooted to provide tensile strength and yield strengthened concrete. Concrete is frequently used in building materials and its usage worldwide is more than that of wood, steel, plastics, and aluminum altogether, thus improving market size for RMC.


Along with additives, admixtures are also added to enhance the properties of the concrete material. Mineral-based admixtures are used as a concrete ingredient for recycled products. Conspicuous materials include fly ash, which is a by-product generated from coal-fired power plants, and silica fume which is a byproduct of industrial electric arc furnaces. The growing construction industry is expected to support the market growth.


However, the outbreak of the COVID-19 pandemic caused a temporary stoppage in activities across various industries, including construction. Implementation of global lockdown and social distancing led to travel restrictions for laborers and workers, and hence, companies had to postpone their project plans. This factor negatively affected the market. However, the market recovered after the normalization of construction activities. The increase in construction projects is poised to boost the consumption of ready-mix concrete.


Ready-Mix Concrete Market Trends


Product Adoption in Green Constructions for Sustainable Development to Propel Market Growth


Ready-mix concrete (RMC) is a major product used in the construction industry. Significant efforts are being taken by RMC manufacturers for the reduction of greenhouse gases (GHG) emissions by upping the percentage of additives such as fly ash/slag. This initiative is undertaken to reduce ordinary Portland cement consumption and improve the energy-efficiency of the process. The adoption of the concept of green construction to help with aforementioned effects has led to increased demand for eco-friendly products.


Green construction uses the resources of water and energy efficiently, reduces negative impacts, and creates positive impacts on the climate and the natural environment. This has caused producers to develop and invest in green ready-mix concrete. The construction activities of green building involve planning and design with the foremost considerations such as energy and water use, environmental quality, and material selection among many others. The slow depletion in the non-renewable resources and growing expensiveness has caused green construction to become a highly adaptable concept for the construction industry.


Request a Free sample to learn more about this report.


Ready-Mix Concrete Market Growth Factors


Increasing Demand for Residential Structures from the Construction Industry to Drive Growth


The expanding construction industry is supporting market growth. Income growth in developed and developing countries has accelerated the construction of buildings and housing structures that would lead to the high consumption of concrete. The construction industry is observing tremendous and unparalleled changes due to economic growth and is gradually shifting toward ready-mix concrete for easy and quick use. India, Japan, China, and other Asian countries are the major drivers for market growth. The rising population in these regions is mainly affecting the concrete market positively, owing to the high demand for residential structures.


Moreover, an increasing shift of industrialization from the western regions to the Asia Pacific is directly supporting the growth of the construction industry, which, in turn, is set to result in the growth of the RMC market. Urbanization has also led to the development of infrastructure facilities which is a major factor behind the ready-mix concrete market growth.


Labor Benefits and High Private Investments is Driving Market Growth


The growing investments from the private sector and help from governmental organizations have led to a rise in construction opportunities. These include the construction of bridges, railroads, highways, urban infrastructure, power generation sector, real estate, commercial buildings, and others. The speedy development of all the above-mentioned structures is leading to a high demand for ready-mix concrete. This is also supported by the high-end investments in urbanization from developing countries such as China, India, Mexico, and South Korea from both the government and private sectors.


It is further causing exponential growth of the market. Coupled with these, high labor benefits such as reduced labor costs, the provision of proper equipment, and health benefits are impacting the construction industry positively, thereby leading to high growth. This growth in the construction industry is supporting the market growth.


RESTRAINING FACTORS


High Product Cost due to Large Initial Investments May Hinder the Market Growth


Ready-mix concrete has a high cost owing to the large initial investment made to set up a plant. Companies have to meet the regulatory mandates for emission control, which results in added costs. This causes hindrance to the new entrants in the market. Furthermore, this product requires space or area to mix the material on-site as it takes only 90 minutes to settle or gain shape. The limited space available near the construction site can increase the company’s cost for transportation of the mixture from the nearby location. All these factors will add to the product cost. Therefore, the high product cost is expected to hinder the market growth.


Ready-Mix Concrete Market Segmentation Analysis


By Type Analysis


Transit Mix Segment Dominated Owing to Its Flexibility


Based on type, the ready-mix concrete market is segmented into transit mix, central mix, and shrink mix.


In the overall market, the transit mix segment accounted for the largest ready-mix concrete market share in 2023 and is anticipated to hold the dominating position throughout the forecast period. Transit-mix concrete is also called dry-batched is distinguished by the mixing of concrete in transit to construction sites. This method offers convenience, flexibility, and heightened control over concrete quality. The reduced risk of segregation, along with time-saving efficiency, led transit-mixed concrete to experience substantial demand, fueled by the expansion of the construction industry and infrastructure development. This demand is particularly pronounced in urban areas, where extensive projects necessitate a consistent flow of concrete for swift and dependable delivery.


On the other hand, shrink-mixed concrete is expected to grow significantly during the forecast timeframe. It is utilized to retain the advantages of transit-mixed concrete and surge the truck's load capacity.


Furthermore, the growing construction of residential and commercial buildings along with rapid infrastructure development, are expected to increase the demand for central mixed concrete. The segment holds the significant market share in the global market. This concrete is also called central batching plant concrete and is mixed carefully before being loaded into a truck mixer. Throughout transit, the truck’s mixing drum works as an agitator.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Commercial Segment Led Backed by Surging Urbanization


Based on application, the market is classified into residential, commercial, and infrastructure.


The commercial segment is the largest owing to the increasing urbanization in several countries worldwide. It is due to the establishment of many private sector companies, such as shopping malls, hotels, and restaurants. Commercial construction requires quick construction, which further increases the demand for ready-mix concrete.


The residential segment is set to grow steadily during the forecast period due to the increased demand for the housing sector in the Asia Pacific owing to the growing population. This demand is also supported by the increasing disposable income levels of people in countries such as China and India.


The infrastructure segment is also expected to show the fastest growth in the RMC market during the forecast period due to the rapid urbanization, leading to the development of roads & highways, power construction, water systems, and others. Government schemes and investments in the construction of the above-mentioned structures are positively affecting segment growth. An increase in the construction of attractive manufacturing plants within developing economies such as India is also expected to lead to substantial segment growth.


REGIONAL INSIGHTS


By region, the market is divided into  Europe, the Asia Pacific, North America, the Middle East & Africa, and Latin America.


Asia Pacific Ready-Mix Concrete Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The Asia Pacific market accounted for a value of USD 324.82 billion in 2023. The region is the largest and is expected to show substantial growth during the forecast period owing to the large-scale demand from developing economies such as China, India, and South Korea. Moreover, China is the major producer of concrete owing to the availability of raw materials and high demand for the product from the growing population. High infrastructural development and the construction of new manufacturing plants in developing nations are expected to further drive the growth of the market.


To know how our report can help streamline your business, Speak to Analyst


The market in North America is expected to grow during the forecast period. This growth can be attributed to the rising demand for residential and commercial sectors in the region. The demand for single housing units, along with the strong and sustainable economy is the factor propelling the market growth. Furthermore, favorable governmental regulations over construction policies and schemes are boosting the growth of the market considerably in this region.


Europe's market is anticipated to show moderately high growth during the forecast period. This growth can be associated with the high demand for residential structures along with the growing industrialization in the region. Government projects on infrastructure development are also significantly supporting the market growth in this region.


Latin America and the Middle East & Africa are expected to be the key markets as the product is in its key stage. Growing infrastructure in countries such as the U.A.E. and Saudi Arabia is supporting the market growth in the Middle East. Favorable governmental regulations in Saudi Arabia have included a program for infrastructure development, which, in turn, supports market growth in this region. Moreover, the easy availability of raw materials is expected to further show more attractive growth during the forecast period in the region.


List of Key Companies in Ready-Mix Concrete Market


Key Players are Forming Growth Strategies to Maintain Their Dominance in Market


The global market is competitive with key players operating, such as CEMEX S.A.B. de C.V., M. I. Cement Factory Limited, ACC Ltd., and UltraTech Cement Ltd. The key market players have used numerous strategies such as mergers, acquisitions, investment & divestment, partnership, and hiring suppliers and distributors for the growth of the market.


Furthermore, large, medium, and small-scale companies are offering highly enhanced product portfolios which include the addition of additives and admixtures for fast curing time. This trend is expected to have a positive impact on the global market over the forecast period.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • March 2024– Shree Cement introduced Bangur Concrete and in Hyderabad commissioning its first Greenfield Ready Mix Concrete (RMC) plant. The plant has a production capacity of 90 cubic meters per hour. This inititative will help the company to expand its cement business.

  • May 2023– Nuvoco Vistas Corp. Ltd. intoduced its new Ready-Mix Concrete (RMX) plant in Vizag, Andhra Pradesh with a production capacity of 60 cubic meters per hour. With this launch, the company will provide a reliable source of highquality concrete while also reducing costs, improving efficiency, and promoting sustainability.

  • May 2023– UltraTech announced the development of its in-house technology that collects all the remaining concrete from the construction sites and makes them into slurry for recycling in ready-mix concrete. The plant technology is automated and does not dispose of any solid or water waste, thus it is fully environmentally friendly.

  • April 2023– Hanson Group supplied ready-mix concrete to meet the challenges of the COVID-19 pandemic in Swansea. The factory is temporarily being formed as an NHS field hospital for the treatment and care of the patients affected by the novel coronavirus.

  • April 2023–Ambuja Cement and ACC limited, the leaders in cement manufacturing, collaborated to collectively support those who are impacted by the Covid-19. The companies together will be contributing the amount of Rs. 3.30 crore to three different NGOs that are providing support to the migrant workers and daily wagers.


REPORT COVERAGE


An Infographic Representation of Ready-Mix Concrete Market

To get information on various segments, share your queries with us



The research report provides a detailed analysis of the global market and focuses on key aspects such as prominent companies, products, and leading applications of the product. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 9.1% from 2024 to 2032



Unit



Value (USD Billion) and Volume (Million Ton)



Segmentation



By Type



  • Transit Mix

  • Central Mix

  • Shrink Mix



By Application



  • Residential

  • Commercial

  • Infrastructure



By Region



  • North America (By Type, By Application, By Country)


    • U.S. (By Application)

    • Canada (By Application)


  • Europe (By Type, By Application, By Country)


    • Germany (By Application)

    • France (By Application)

    • U.K. (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Rest of Europe (By Application)


  • Asia Pacific (By Type, By Application, By Country)


    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • Australia (By Application)

    • South Korea (By Application)

    • Rest of the Asia Pacific (By Application)


  • Latin America (By Type, By Application, By Country)


    • Brazil (By Application)

    • Mexico (By Application)

    • Argentina (By Application)

    • Rest of Latin America (By Application)


  • Middle East & Africa (By Type, By Application, By Country)


    • South Africa (By Application)

    • Saudi Arabia (By Application)

    • UAE (By Application)

    • Egypt (By Application)

    • Rest of the Middle East & Africa (By Application)







Frequently Asked Questions

Fortune Business Insights says that the global market worth was USD 922.39 billion in 2023 and is projected to reach USD 2,006.52 billion by 2032.

In 2023, the Asia Pacific market size stood at USD 324.82 billion.

Growing at a CAGR of 9.1%, the market is expected to exhibit steady growth during the forecast period.

The commercial segment is expected to be the leading material.

The rising construction industry in developing countries is expected to drive market growth.

CEMEX S.A.B. de C.V., M. I. Cement Factory Limited., ACC Ltd., and UltraTech Cement Ltd. are the top players in the market.

The Asia Pacific dominated the global market in 2023.

Growing demand for residential structures is the key factor driving the product adoption.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 300
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Chemicals & Materials Clients
LG Chem
Citibank
Kpmg
Samsung
BASF
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X