Global Ready Mixed Concrete Market Size By Application(Residential, Infrastructure, Commercial), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Ready Mixed Concrete Market size was valued at USD 725.2 billion in 2021, it is expected to reach USD 1473.9 billion by the end of 2030, growing at a CAGR of 8.2% from 2023 to 2030.
The increasing demand for construction projects in developing economies, the growing preference for ready-to-use concrete solutions, and the emphasis on sustainable construction practices are boosting the growth of the Ready Mixed Concrete (RMC) Market. The Global Ready Mixed Concrete Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Ready Mixed Concrete Market Definition
So, the Ready Mixed Concrete (RMC) Market is all about making and selling concrete that's mixed up at a central plant and then trucked over to where you're building. Think of it as consistent, high-quality concrete, because it's made under controlled conditions and arrives ready to go. Basically, it's a blend of cement, aggregates, water, and some extra goodies mixed together at the plant. Then, special trucks, like those concrete mixer trucks you see, haul it to the site where it can be pumped or poured right into place.
The RMC market is a critical component of the construction industry, as it provides a convenient and efficient solution for the supply of concrete to construction sites. This type of concrete is used in a variety of construction projects, including residential, commercial, and infrastructure development. The market is highly competitive, with numerous companies offering a range of products and services to meet the needs of customers. Some companies specialize in the production and sale of RMC, while others provide related services, such as delivery, pumping, and placement.
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Ready Mixed Concrete Market Overview
The COVID-19 pandemic has had a significant impact on the Ready Mixed Concrete market. The construction industry has been hit hard by the pandemic, with many construction projects postponed or canceled due to lockdowns, travel restrictions, and supply chain disruptions. This has had a direct impact on the demand for RMC, as construction projects are the primary users of the material.
Ready-mixed concrete (RMC) is basically the lifeblood of the construction industry. When more buildings go up, more RMC is needed! Think about itall those new homes, office spaces, and even the roads and bridges we drive on – they all fuel the RMC market. As more people move to cities, we need even more construction, from skyscrapers to better transportation, which means even more RMC. Things like urbanization, sustainability, and cool new tech in construction are all playing a big role. Because of these trends, RMC is expected to keep growing, creating some pretty exciting opportunities for companies to innovate and meet the needs of a changing world.
The cost of raw materials used in the production of RMC, such as cement, sand, and aggregates, can vary significantly due to fluctuations in supply and demand, as well as changes in currency exchange rates. These price fluctuations can impact the profitability of RMC producers and make it difficult to predict production costs. While RMC is known for its consistent quality and uniformity, there is a lack of standardization in the industry. This can lead to inconsistencies in the quality of the final product, which can impact customer satisfaction and lead to increased costs for producers.
The use of digital technologies, such as automation and artificial intelligence, can improve the efficiency and accuracy of RMC production and delivery processes. Cost-saving opportunities, increased output, and higher customer satisfaction may result from this. RMC producers can explore opportunities to expand into new markets, such as emerging economies with growing construction industries. They can also consider offering specialized products and services to niche markets, such as decorative concrete for residential and commercial buildings.
Ready Mixed Concrete MarketSegmentation Analysis
The ready-mixed concrete market is segmented by application, and region.
Ready Mixed Concrete Market, By Application
Residential
Infrastructure
Commercial
The commercial segment holds the largest market share in the ready-mixed concrete market. Due to rapid urbanization, this segment is growing worldwide. Besides this, the residential segment is also growing steadily in this market and is expected to get a better position in the forecast period.
Ready Mixed Concrete Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
It can be analyzed that the North American market is anticipated to grow more in the forecast period. The increasing demand for the residential as well as commercial sectors is boosting the growth of ready-mixed concrete in this region. Besides this, favorable government regulations are also supporting growth in this market.
Key Players
The key players in the Ready-mix concrete market are Barney & Dickenson Inc., ACC Limited, Heidelberg Cement AG, Cemex SAB de CV, Vulcan Materials Company, CRH Plc, UltraTech Cement Limited, SIKA Group, Vicat, and Buzzi Unicem SpA.
Key Developments
In August 2021, EMEX, a global leader in the building materials industry, launched Vertua®, a low-carbon concrete solution that reduces CO2 emissions by up to 70% compared to traditional concrete. This move is in line with CEMEX’s goal of achieving net-zero CO2 emissions by 2050.
In May 2021, HeidelbergCement, a German multinational building materials company, announced that it had invested in a carbon capture technology that uses waste gases from the cement production process to produce synthetic fuels. This move is in line with HeidelbergCement’s goal of achieving carbon neutrality by 2050.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Barney & Dickenson Inc., ACC Limited, Heidelberg Cement AG, Cemex SAB de CV, Vulcan Materials Company, CRH Plc, UltraTech Cement Limited, SIKA Group, Vicat, and Buzzi Unicem SpA.
SEGMENTS COVERED
By Application & By Geography
CUSTOMIZATION SCOPE
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