New York, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Ready mix concrete, often abbreviated as RMC, is a specialized concrete product that is prepared in a controlled environment, typically in a batching plant, and then delivered to construction sites in a ready-to-use state. The ready-mix concrete market faced significant setbacks during the lockdown phase of the COVID-19 pandemic. Construction projects worldwide experienced a notable slowdown, resulting in a substantial decrease in the demand for ready-mix concrete. Nevertheless, the market rebounded as construction activities resumed following the easing of restrictions.
This innovative construction material offers numerous advantages over traditional on-site concrete mixing. Ready mix concrete ensures consistency in quality, as it is prepared using precise measurements and a standardized mix design, reducing the chances of errors in proportioning. It also enhances efficiency and saves time on construction sites, as it eliminates the need for on-site mixing, reducing labor and equipment costs. Additionally, RMC is an environmentally friendly option, as it minimizes waste and reduces the consumption of natural resources like water and aggregates. With its convenience, reliability, and sustainability, ready mix concrete has become a vital component in modern construction projects, contributing to faster construction timelines and improved structural integrity.
The construction industry has witnessed a surge in the need for ready-mix concrete, primarily driven by a growing demand for adaptable construction materials and a heightened focus on robust building structures. Additionally, the rapid expansion of urban areas and population growth is poised to exert significant pressure, amplifying the requirements for housing, employment opportunities, energy resources, food production, access to clean water, transportation infrastructure, and social amenities. In response to these challenges, construction firms are increasingly embracing eco-friendly and cost-efficient housing and building solutions to uphold stringent quality standards, a need that can be effectively addressed through the utilization of ready-mix concrete.
The ready-mix concrete market faced significant setbacks during the lockdown phase of the COVID-19 pandemic. Construction projects worldwide experienced a notable slowdown, resulting in a substantial decrease in the demand for ready-mix concrete. Nevertheless, the market rebounded as construction activities resumed following the easing of restrictions.
The ready-mix concrete market report by Persistence Market Research provides information about the market dynamics, key trend and developments, supply-demand scenario, raw material analysis, value chain and supply chain analysis, upcoming and ongoing construction projects, and forecast factors in the global ready-mix concrete market for the period of study - 2023-2031
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Ready-Mix Concrete Market Report Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 459.5 Mn | |
| Estimated Revenue 2031 | US$ 782.9 Mn | |
| Growth Rate – CAGR | 6.1% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 266Pages | |
Key Market Segments By Application |
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Regions Covered |
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Key Companies Profiled |
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Market Dynamics:
Ready-mix concrete streamlines the construction process, reducing both the time and expenses associated with labor-intensive on-site mixing. This translates into swifter and more efficient construction procedures, offering significant advantages to construction firms and project managers alike. Ready-mix concrete finds applications in a wide spectrum of projects, spanning infrastructure, commercial ventures, and residential developments. The global ready-mix concrete market is poised for growth, driven by factors such as urbanization trends, the expansion of infrastructure projects, and the adoption of sustainable construction practices. Furthermore, the market is expected to witness innovation and increased investments in sustainable solutions due to fluctuations in raw material prices and environmental concerns.
Drivers:
The burgeoning construction sector is providing substantial impetus to market expansion. Increased incomes in both developed and developing nations have accelerated the construction of residential and commercial structures, resulting in a heightened demand for concrete. The construction industry is undergoing significant and unprecedented transformations, driven by economic growth and a gradual shift towards the utilization of ready-mix concrete for its convenience and quick application. Key drivers of market growth include China, India, Japan, and other Asian nations, where a burgeoning population is positively influencing the concrete market due to a surge in the need for residential buildings.
Furthermore, the ongoing shift of industrialization from Western regions to the Asia Pacific region directly contributes to the growth of the construction industry, consequently propelling the ready-mix concrete market. Urbanization plays a pivotal role in fostering infrastructure development, which serves as a major catalyst for the expansion of the ready-mix concrete market.
Increased investments from the private sector, coupled with support from governmental organizations, are creating new opportunities in the construction sector. These opportunities encompass the construction of highways, bridges, railways, urban infrastructure, real estate projects, power generation facilities, commercial structures, and more. The rapid development of these aforementioned projects is driving a significant demand for this type of concrete. This surge is further amplified by substantial investments in urbanization initiatives by developing countries such as China, India, Mexico, and South Korea, with both government and private sectors actively participating.
Moreover, the construction industry is benefiting from a highly favorable labor environment, characterized by the provision of appropriate equipment, reduced labor costs, and improved health benefits. These factors are exerting a positive impact on the construction sector, consequently fostering its robust growth, which, in turn, bolsters the overall market expansion..
Restraints
One of the key factors impeding the expansion of the ready-mix concrete (RMC) market is the impact of the COVID-19 pandemic on the construction industry. The outbreak has resulted in the closure of numerous construction sites across various countries due to nationwide lockdown measures. Even the construction sites that have remained operational have had to grapple with disruptions in their supply chains and other operational limitations. The situation has been exacerbated by China's significant role as a major concrete producer, as the country's export restrictions stemming from the coronavirus outbreak have created bottlenecks within the supply chain. Consequently, many regions have been compelled to seek alternative suppliers, resulting in elevated material costs. This heightened cost of materials is exerting a negative influence on the construction sector and is acting as a constraining factor for overall market growth.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at - https://www.persistencemarketresearch.com/market-research/ready-mix-concrete-market.asp
Ready-Mix Concrete Market – Competitive Landscape
The market landscape is competitive, with the presence of large number of leading players in the global market. Prominent players in the market are LafargeHolcim Ltd., HeidelbergCement AG, CEMEX S.A.B. de C.V, Vicat Group, U.S. Concrete, Inc., CRH plc, Buzzi Unicem S.p.A., Sika Barney & Dickenson, Inc., Martin Marietta Materials, Inc., and R.W. Sidley, Inc. These players are focusing on strategic alliances, merger & acquisition, and product innovation in order to increase dominance and maintain position in the market.
Prominent participants in the ready-mix concrete industry are consistently directing their efforts towards establishing enduring supply agreements, engaging in acquisitions, and advancing the technological aspects of their products. Additionally, certain companies are actively engaged in the creation of mobile ready-mix concrete plants, strategically positioned at substantial construction sites, to ensure timely and efficient concrete supply.
Segmentation:
The global ready-mix concrete market has been categorized into various types, including accelerated set, architectural, fiber-reinforced, flowable fill/CLSM, and standard. By the conclusion of 2029, it is anticipated that the standard concrete segment will dominate the global ready-mix concrete market, constituting a significant portion of the market share. Standard concrete is characterized by the use of pre-defined proportions of ready-mix concrete ingredients and is widely employed for various construction purposes.
During the forecast period, the fiber-reinforced ready-mix concrete segment is expected to contribute to more than 40% of the total incremental opportunity.
The growth of the ready-mix concrete market in the near future is anticipated to be driven by South Asia and East Asia. These regions are experiencing increased investments in infrastructure development and higher foreign direct investments, particularly in countries like India and China. This surge in investment is expected to boost the demand for building insulation materials, subsequently driving the growth of the ready-mix concrete market.
East Asia is expected to hold a substantial share in the global ready-mix concrete market, both in terms of market volume and value, by the end of 2019. Conversely, the North American ready-mix concrete market is projected to experience below-average growth in the forecast years.
Research Segmentation: Ready-Mix Concrete Market
- Type
- Transit Mixed Concrete
- Shrink Mixed Concrete
- Central Mixed Concrete
- Hybrid Riser
- Others
- Application
- Residential
- Non-residential
- Commercial
- Industrial
- Others
Key Developments in Global Ready-mix Concrete Market
- In June 2022, UltraTech internally developed a method that converts all the leftover concrete from construction sites into slurry, which is used in the market
- In May 2022, Holcim Group acquired Cajun Ready-mix Concrete, the largest ready-mix concrete company in the Greater Baton Rouge Area in the U.S. This strategic move will lead to increase in market presence in the U.S.
Key Questions Answered in the Report:
- How has the ready-mix concrete market evolved in the past 4 years?
- How is the ready-mix concrete market expected to take shape in terms of value and volume over the next decade?
- What are the key trends and competition developments identified in the global ready-mix concrete market?
- What are the market dynamics in the global ready-mix concrete market?
- What are the key challenges for ready-mix concrete producers?
- What is the market share of the top players in the global ready-mix concrete market?
- Who are the regional and local players involved in the production of ready-mix concrete?
- By region, what is the market presence of prominent companies in the ready-mix concrete market?
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