The global ready-mix concrete market is projected to attain a valuation of USD 696.2 billion in 2023 and is expected to reach USD 1488.74 billion by 2033, trailing a CAGR of 7.9% during the forecast period.
Surging demand for versatile building materials and increasing construction activities worldwide are projected to aid growth in the upcoming decade.
As per a report by FMI, sales of ready-mix concrete are likely to be valued at US$ 1488.74 billion in 2033. The increasing focus of construction companies on the development of cost-effective and environmentally friendly buildings to ensure uniform quality and the highest standards is set to drive the market.
Ready-mix concrete is a mixture of cement, water, aggregates, and supplementary materials in defined proportions. All the ingredients are mixed in proportion on the basis of standard codes to get the required strength and durability.
Increasing private and government investments in the infrastructure sector is expected to create lucrative growth opportunities for key players in the forthcoming years. Preparation of ready-mix concrete and its transportation through transit mixers enable the execution of accurate and precise concrete availability in various construction projects.
Proficient usage, low cost of inventory, and low wastage of concrete are anticipated to spur the market in the future. The rising number of smart city projects across the globe and the renovation of aging infrastructures in built-up urban communities are a couple of other factors that would foster the market.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | US$ 696.2 billion |
| Anticipated Forecast Value (2033) | US$ 1488.74 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 7.9% |
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High demand for speedy construction activities across infrastructure, industrial, commercial, and residential segments is anticipated to propel the global ready-mix concrete market growth in the evaluation period. Easy pouring methods, as well as reduced cost of sight supervision and labor, would also contribute to the market revenue growth in the future.
Low mortgage rates and surging populations in both developed and developing countries are anticipated to push the demand for residential construction projects, which would aid growth. Besides, increasing the replacement of conventional concrete with ready-mix concrete because of improved quality, ease of use, and greater convenience is likely to augment the market.
Ready-mix concrete is not suitable for small construction projects as they require less amount of concrete. As ready-mix concrete has limited time, it should be used within about 210 minutes of batching the plant. Breakdown of vehicles or traffic jams may create major issues as the concrete loses its functionality with delay. Spurred by the aforementioned disadvantages, demand for ready-mix concrete may get hampered in the next decade.
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In terms of region, Asia Pacific is projected to remain at the forefront by generating the largest ready-mix concrete market share in the forthcoming years. The region is expected to accumulate over 38.7% market share in 2023. The demand for ready-mix concreate in the region is expected to rise with a significant CAGR of 8.5% during the forecast period. Ongoing infrastructural development in China, India, Singapore, and Thailand is anticipated to foster the need for ready-mix concrete for construction projects.
Government initiatives to develop new roads in India and China to augment industrial development in emerging economies are likely to support growth. New construction projects associated with industrial centers and factories with rapid urbanization and the development of novel housing are another vital factor that is expected to propel growth.
High demand for single-family houses in the United States and Canada is projected to accelerate sales of ready-mix concrete in North America. The sales of ready-mix concrete in United States are expected to proliferate with a CAGR of 8.1% during the forecast period. Ascending disposable income levels and favorable government policies are expected to attract various manufacturers to develop their plants in North America, which would boost the market in the assessment period.
In June 2022, for instance, the USA government declared that it is planning to raise nearly US$ 200 Billion in public and private funds over five years to provide required infrastructure funds under a G7 initiative. USA President Joe Biden is expected to announce these plans along with other G7 leaders. He is also set to declare numerous flagship projects, including a solar development project worth US$ 2 Billion in Angola. Similar initiatives taken by the government are estimated to augur well for the North American market.
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Infrastructural Segment Driving Market with Promising CAGR
The infrastructure construction sector is projected to experience rapid growth, with a compound annual growth rate (CAGR) of 8.8% during the forecast period. This growth can be attributed to advancements in road construction, the building of dams, the implementation of water conservation systems, and the expansion of airports. Moreover, the market is expected to receive further momentum due to increased budget allocations for infrastructure development by local governments.
Start-ups play a vital role in recognizing growth opportunities and driving industry expansion. Their efficiency in converting inputs into outputs and adapting to volatile market conditions is valuable. In the ready-mix concrete market, several start-ups are engaged in manufacturing and providing related services.
The market for ready-mix concrete is characterized by intense competition, as notable industry players are making significant investments to enhance their manufacturing capabilities.
The key industry players are CEMEX S.A.B. de C.V., Vicat SA, Ultra Tech Cement Limited, Lafarge, ACC Limited, Barney & Dickenson, Inc., SIKA Group, Heidelberg Cement, Holcim Ltd., Italcementi Group.
Some recent developments in the ready-mix concrete market are:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | US$ 696.2 billion |
| Market Value in 2033 | US$ 1488.74 billion |
| Growth Rate | CAGR of 7.9% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
The projected revenue of the market by 2033 is US$ 696.2 billion.
The market CAGR for 2033 is projected to be 7.9%.
LafargeHolcim, Cemex, HeidelbergCement are the key Ready-mix Concrete Market players.
The market is estimated to secure a valuation of US$ 1,488.74 billion in 2023.
The demand for ready-mix concrete is driven by growing urbanization, infrastructure development, and population growth. Technology advancements and an emphasis on sustainability also contribute to its growth.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Production
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Production, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Production, 2023 to 2033
5.3.1. On-Site
5.3.2. Off-Site
5.4. Y-o-Y Growth Trend Analysis By Production, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Production, 2023 to 2033
6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product Type, 2023 to 2033
6.3.1. Residential
6.3.2. Non-Residential
6.3.3. Infrastructural
6.3.4. Commercial
6.3.5. Industrial
6.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Production
8.2.3. By Product Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Production
8.3.3. By Product Type
8.4. Key Takeaways
9. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Production
9.2.3. By Product Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Production
9.3.3. By Product Type
9.4. Key Takeaways
10. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Production
10.2.3. By Product Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Production
10.3.3. By Product Type
10.4. Key Takeaways
11. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Production
11.2.3. By Product Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Production
11.3.3. By Product Type
11.4. Key Takeaways
12. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Production
12.2.3. By Product Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Production
12.3.3. By Product Type
12.4. Key Takeaways
13. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Production
13.2.3. By Product Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Production
13.3.3. By Product Type
13.4. Key Takeaways
14. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Production
14.2.3. By Product Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Production
14.3.3. By Product Type
14.4. Key Takeaways
15. Key Countries Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Production
15.1.2.2. By Product Type
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Production
15.2.2.2. By Product Type
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Production
15.3.2.2. By Product Type
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Production
15.4.2.2. By Product Type
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Production
15.5.2.2. By Product Type
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Production
15.6.2.2. By Product Type
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Production
15.7.2.2. By Product Type
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Production
15.8.2.2. By Product Type
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Production
15.9.2.2. By Product Type
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Production
15.10.2.2. By Product Type
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Production
15.11.2.2. By Product Type
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Production
15.12.2.2. By Product Type
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Production
15.13.2.2. By Product Type
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Production
15.14.2.2. By Product Type
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Production
15.15.2.2. By Product Type
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Production
15.16.2.2. By Product Type
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Production
15.17.2.2. By Product Type
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Production
15.18.2.2. By Product Type
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Production
15.19.2.2. By Product Type
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Production
15.20.2.2. By Product Type
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Production
15.21.2.2. By Product Type
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Production
15.22.2.2. By Product Type
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Production
15.23.2.2. By Product Type
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Production
16.3.3. By Product Type
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. CEMEX S.A.B. de C.V.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Vicat SA
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Ultra Tech Cement Limited
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Lafarge
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. ACC Limited
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Barney & Dickenson, Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. SIKA Group
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Heidelberg Cement
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Holcim Ltd.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Italcementi Group
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Ready-mix Concrete Market
