The global ready-mix concrete industry size was USD 735.9 billion in 2020 and is projected to grow from USD 792.2 billion in 2021 to USD 1,374.2 billion in 2028 at a CAGR of 8.2% during the 2024-2028 period. Increasing demand for speedy construction activities for residential, commercial, industrial, and infrastructure segments is expected to drive the industry for ready-mix concrete (RMC). Benefits such as reduced cost for labor and sight supervision coupled with easy pouring methods involved in ready-mix construction are anticipated to attract more consumers in the coming period. Increasing investments in the construction industry in the economies of Mexico, China, India, Singapore, and South Korea are expected to support the demand.

Ready-Mix Concrete Industry: Application Insights

Residential Sector Leads Demand:

• Homes account for the largest share (34%) due to high consumption of ready-mix concrete in their construction.
• Rising demand for single-family homes in Asia and Europe is expected to further boost the residential segment.
• Growing populations and disposable incomes in countries like India and China will fuel demand for residential structures, impacting the ready-mix concrete industry positively.

Industrial Boom in Asia Pacific:

• Rapid industrial development in this region, along with government support, is attracting manufacturers to set up plants.
• This industrial growth will significantly increase demand for ready-mix concrete.

Infrastructure Segment: Fastest Growth:

• The infrastructure sector is projected to witness the fastest growth (CAGR of 6.2%) due to rising investments in:
  • Road construction
  • Dams
  • Water conservation systems
  • Airport expansion
• Increased government budgets for infrastructure development will further propel the ready-mix concrete industry.

Commercial Construction on the Rise:

• Growing spending on commercial buildings like shopping malls, offices, hotels, and hospitals will benefit the ready-mix concrete industry.
• The need for large-scale, fast construction projects in the commercial sector creates a strong demand for ready-mix concrete.

Source- https://www.fortunebusinessinsights.com/ready-mix-concrete-market-103281 

Industry Scope of the Report:

The industry estimates presented in the report result from a comprehensive research approach involving various research channels such as primary research, secondary research, and subject-matter expert consultations. These industry estimates consider the influence of existing industry dynamics and a range of economic, social, and political factors on the Ready-Mix Concrete industry. Additionally, the industry data is shaped by regulations, government expenditures, and advancements in research and development. Both positive and negative industry changes are factored into these estimations.

Industry Segmentation:

The study offers detailed segmentation of the global Ready-Mix Concrete industry based on Type, End User, and region. The report provides in-depth discussions of these segments and their sub-divisions, supported by tables and figures. industry players and investors can strategize their approaches based on the high-revenue and rapidly growing segments highlighted in the report.

Industry Players:

The major players profiled in the ready-mix concrete industry include, ACC Limited, Barney & Dickenson, Inc., CEMEX S.A.B. de C.V., CRH plc, HEIDELBERGCEMENT AG, Holcim Ltd., SIKA Group, UltraTech Cement Limited, Vicat SA, and Vulcan Materials Company. Major companies in the industry have adopted acquisition, product launch and partnership as their key developmental strategies to offer better products and services to customers in the industry.

Research Approach:

The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent industry, and growth drivers. A comprehensive understanding of the industry is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and industry segments is established using both bottom-up and top-down methodologies.

However, ready-mix concrete require setup to mix material in proportion. In such cases, non-availability of setup space near construction site can tend the company to transport the mixture. Mixture has low span of 90 minutes, and if there is delay due to traffic, the concrete is expected to settle or affect in loss of workability, which is expected to hamper the ready-mix concrete industry growth. Similarly, economical and employment issues in different developing countries like Iran, Iraq and Indonesia are expected to indirectly hamper the growth of the industry. Moreover, factors such as poor transportation & logistics infrastructure, non-tariff measures low of goods and services across borders, and low foreign direct investment hamper the economic growth of the developing countries, which in turn, is expected to restrain the industry growth