Ready-mix Concrete Market Size

Ready-mix Concrete Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Ready-Mixed Concrete Market is expected to reach a total of $ 543.4 billion by 2024, and to reach $ 857.1 billion by 2032. This growth rate is a steady CAGR of 5.87% over the forecast period. The rising demand for urbanization and the growing demand for infrastructure development, especially in emerging economies, is the main reason for this growth. Also, the shift to sustainable construction practices and the use of advanced concrete production methods are promoting the market. The major companies in the ready-mixed concrete industry, such as LafargeHolcim, Cemex, and HeidelbergCement, are focusing on strengthening their market position through strategic initiatives. These include investing in new production methods, forming alliances to promote sustainable practices, and launching new product lines. The introduction of high-performance concrete and the integration of digital solutions into supply chain management are notable trends that will not only improve the efficiency of the market, but will also respond to the changing needs of the construction sector. These factors will play a key role in shaping the future landscape of the market.

Regional Market Size

Regional Deep Dive

The ready-mix concrete market is experiencing dynamic growth in many regions, driven by urbanization, the development of infrastructure, and a shift towards sustainable building practices. North America is seeing robust demand from the residential and commercial sectors, while Europe is focusing on innovation and sustainable building. Asia-Pacific is seeing strong growth, largely driven by investment in infrastructure, especially in emerging economies. The Middle East and Africa are seeing a construction boom driven by government initiatives, while Latin America is gradually emerging from its recent economic difficulties, and is refocusing on construction and the development of its infrastructure.

North America

• A great rush for concrete has set in. The Biden administration’s plan for a $ 1200 billion infrastructure program is driving up the demand for ready-mix concrete.
• The concrete industry is advancing, and in particular the development of self-repairing concrete by companies like Bluey Technologies has attracted attention. The use of this concrete enhances the strength and the life of the structure.
• In California, changes in regulations, which impose the use of concrete made from recycled materials, are forcing the industry to adopt a more sustainable mode of operation, which has an effect on the market as a whole.

Europe

• The Green Deal in Europe is promoting the use of low-carbon concrete solutions, and companies like HeidelbergCement are investing in CO2 capture and storage technology to reduce emissions.
• In Europe, the construction of smart cities is increasing the demand for high-performance concrete. The Smart City Amsterdam initiative is a good example of this.
• In Germany the regulations promoting the use of sustainable building materials are influencing the concrete industry towards greener alternatives.

Asia-Pacific

• The belt and road initiative is a big boost to the construction of the region, and the demand for concrete is growing.
• The National Plan of a Thousand Crores by 2025, aims at spending a thousand millions on the public works of the country. The supply of ready-mixed concrete is thus bound to be largely increased.
• In Japan, advanced construction methods such as 3D printing are being developed and are reshaping the market for conventional concrete.

MEA

• The United Arab Emirats’ Vision 2021 has sparked a building boom with a number of major construction projects underway, including the site of Expo 2020, which has increased the demand for ready-mix concrete.
• The construction of the NEOM, a $500 billion city, is expected to create a significant market for ready-mix concrete.
• In South Africa, where the government has recently introduced legislation on sustainable construction, the use of eco-friendly concrete is gaining in importance.

Latin America

• Brazil’s national development program, which earmarks some $ 10 billion for road and bridge construction, will undoubtedly have a positive effect on the ready-mix concrete market.
• Recovery from the COVID-19 pandemic is bringing a boom in construction to Mexico, and government programs are reviving the economy with a series of construction projects.
• In Argentina, the construction sector is exploring new uses for concrete, such as the use of alternative materials for concrete production.

Did You Know?

“Ready-mix concrete accounts for about 70 per cent of the concrete used in the building industry worldwide. It is thus a key material for the building industry.” — International Concrete Association

Segmental Market Size

The ready-mixed concrete division is of great importance in the building industry, which is undergoing a steady growth, due to the accelerating urbanization and the development of public works. In addition, the growing demand for durable building materials and the shortened construction period are determining the use of concrete. Regulations aimed at sustainable development are encouraging the use of environmentally friendly concretes, such as those based on secondary raw materials.

At the moment, the use of ready-mix concrete is well established. Companies such as CEMEX and LafargeHolcim lead the way in innovation and the implementation of sustainable development. The most common applications are for residential, commercial and civil engineering works. These include the building of roads, bridges and viaducts. However, trends such as green building certification and the rise of smart cities are driving growth. Future developments will be shaped by the use of automation and the development of concrete additives. These will increase performance and reduce the impact on the environment.

Future Outlook

READY-MIXED CONCRETE The ready-mixed concrete market is projected to rise from US$543.41 billion in 2024 to US$857.11 billion in 2032, at a CAGR of 5.87%. This growth is mainly due to the rising demand for new construction, especially in the emerging economies where industrialization and urbanization are accelerating. In 2024, the penetration of ready-mixed concrete in the construction industry will be about 55%. By 2032, it is expected to rise to more than 70%.

The development of the ready-mixed concrete industry will be largely determined by technological and policy developments. Production innovations, such as the use of automatic batching systems and the use of sustainable materials, are expected to increase efficiency and reduce the impact on the environment. The increasingly stringent regulations on CO2 emissions will also push the industry towards greener solutions, such as the use of recycled aggregates and low-carbon concrete. The use of smart building methods and the growing focus on sustainable building practices will also boost the industry's growth and will place ready-mixed concrete as an essential component of the future of construction.