Ready-mix Concrete Market Trends

Global Ready-mix Concrete Market Overview

Ready-mix Concrete Market Size was valued at USD 514.35 million in 2023. The Ready-mix Concrete industry is projected to grow from USD 543.41 Million in 2024 to USD 857.10 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.87% during the forecast period (2024 - 2032). Demand for quick construction work in the residential, commercial, industrial, and infrastructure sectors is rising are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ready-mix Concrete Market Trends

• 
  

  Growing construction sector to boost market growth

  
  

The market is growing due to the developing construction sector. Growing incomes in both developed and emerging nations have sped up the building of homes and other structures that will result in significant concrete consumption. As a result of economic expansion, the building sector is going through enormous and unheard-of changes and is gradually moving toward ready-mixed concrete for rapid and simple application. The key contributors to market expansion are China, India, Japan, and other Asian countries. Due to the increasing demand for residential structures, the expanding population in these areas primarily benefits the concrete sector.

RMC producers have made significant attempts to cut greenhouse gas (GHG) emissions by increasing the percentage of additives such fly ash/slag. This program aims to lower the use of regular Portland cement while simultaneously increasing energy effectiveness. Adopting the idea of green construction to combat the effects above has increased demand for environmentally friendly ready-mix concrete.

The surge in construction opportunities is caused by expanding private sector investments and assistance from governmental entities. These include creating roads, trains, bridges, urban infrastructure, homes, the power generation industry, and other structures. The strong demand for this kind of concrete is caused by the quick construction of all the structures above. High-end investments in urbanization from developing nations like China, India, Mexico, and South Korea, from both the public and private sectors, also encourage this.

One of the key reasons driving the market expansion for Ready-Mix Concrete is the development of infrastructure, such as the construction of highways, the renovation of airports, and the building of dams in developing countries, along with the growing trend of urbanization.

September 2023: The industry witnessed advancements in automation and digitalization within the ready-mix concrete sector. This included the adoption of automated batching plants, AI-powered delivery route optimization, and digital tools for project management

January 2024: The demand for eco-friendly construction practices continued to rise, leading to increased adoption of green building materials like ready-mix concrete with lower carbon footprints. This trend was fueled by growing environmental concerns and regulations promoting sustainable construction.

Figure 1: construction industry

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The AIA Construction Consensus Forecast Panel anticipates a 5.4% increase in nonresidential building construction spending in the US in 2022. It is anticipated to rise by 6.1% in 2023. All the major commercial, industrial, and institutional categories are anticipated to experience robust improvements by 2023. Therefore, such factors have enhanced the Ready-mix Concrete market CAGR ly in recent years.

However, ready-mix concrete is becoming more widely known in developing countries is another factor driving the growth of the Ready-mix Concrete market revenue.

Ready-mix Concrete Market Segment Insights

Ready-mix Concrete Type Insights

Based on product type, the Ready-mix Concrete market segmentation includes transit mixed concrete, shrink mixed concrete, and central mixed concrete. The transit mixed concrete segment held the majority share in 2021, contributing to around ~35% in the Ready-mix Concrete market revenue. Because the transit mix concrete is made in a controlled environment, it helps to reduce dust pollution. Transit mix trucks are frequently employed on all sites, notably at the smallest concrete contracts given to a company.

Ready-mix Concrete Production Insights

The ready-mix concrete market data has been bifurcated by production into on-site and off-Site. The Off-Site segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Large volumes of concrete are needed for building activities, and off-site production makes it possible to produce concrete with greater precision and quality controls. Less space must be built at the construction site for storage by using off-site ready-mix concrete.

On site was the fastest-growing segment. Even though this concrete is made off site by a ready mix factory, the user of site mixed ready mix concrete has complete information, access, monitoring, and the ability to intervene in the materials, the mix design, and the production process at every distinct level. Large projects with high volume requirements typically generate a ready mix on-site.

Ready-mix Concrete Application Insights

Based on application, the ready-mix concrete industry has been segmented into residential, commercial, industrial, and infrastructure. Residential Buildings held the largest segment share in 2021 due to the growing urbanization in several nations worldwide.

The second fastest growing segment in the Ready-mix Concrete industry is commercial. The market for ready-mix concrete is likely to benefit from rising spending on commercial construction, which includes malls, offices, hotels, restaurants, institutional buildings, hospitals, medical facilities, supermarkets, and department stores.

Figure 2: Ready-mix Concrete Market, by Application, 2023 & 2032 (USD Million)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ready-mix Concrete Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific ready-mix concrete market accounted for USD 198.50 million in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of spine abnormalities such as scoliosis, kyphosis, and lordosis, as well as an aging population across the region.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: READY-MIX CONCRETE MARKET SHARE BY REGION 2023 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Ready-mix Concrete Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to increased rates of osteoarthritis and degenerative disc disease, the rapidly growing medical tourism industry, and rising healthcare costs. Moreover, UK Ready-mix Concrete market held the largest market share, and the Canada Ready-mix Concrete market was the fastest-growing market in the North America region.

Europe Ready-mix Concrete market accounts for the second-largest market share. The increasing demand for residential construction and the area's expanding industrialization can be attributed to this expansion. Government infrastructure construction projects greatly aid the market expansion of ready-mix concrete in this region. Further, the Germany Ready-mix Concrete market held the largest market share, and the UK Ready-mix Concrete market was the fastest-growing market in the European region.

Ready-mix Concrete Key Market Players & Competitive Insights

Major market players are investing a lot of money in R&D to expand their product offerings, which will spur further growth in the ready-mix concrete market. Market participants are also undertaking various strategic measures to expand their footprint. Significant market developments include new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To grow and survive in a more cutthroat and competitive market, competitors in the ready-mix concrete industry must offer cost-effective products.

Manufacturing locally to cut operational costs is one of the main business methods used by manufacturers in the worldwide ready-mix concrete industry to benefit customers and develop the market sector. The ready-mix concrete industry has recently given some of the greatest advantages. The Ready-mix Concrete market major player such as Holcim Group, Heidelberg, UltraTech and others are working on expanding the market demand by investing in research and development activities.

The Holcim Group, also known officially as Holcim Limited (formerly as LafargeHolcim), is a multinational corporation based in Switzerland that produces building materials. Cement, aggregates, ready-mix concrete, and other goods, such as precast concrete, asphalt, mortar, and other building materials, make up Holcim's four business segments. In May 2022, the largest ready-mix concrete company in the Greater Baton Rouge Area of the United States, Cajun Ready Mix Concrete, was acquired by Holcim Group. The market presence of Holcim Group in the United States will rise as a result of this strategic decision.

Also, German building materials manufacturer HeidelbergCement is based in Heidelberg. In May 2022, Heidelberg stated that it had purchased six ready-mixed concrete facilities and one sandpit from Kámen Zbraslav, a.s. in the Czech Republic through its Czech subsidiary, eskomoravsk Beton, a.s.

List of the Key Companies in the Ready-mix Concrete market includes

• 
  

  ACC Limited (India)

  
  


• 
  

  Vicat SA (France)

  
  


• 
  

  Lafarge (France)

  
  


• 
  

  Buzzi Unicem S.p.A. (Italy)

  
  


• 
  

  Barney & Dickenson Inc.(U.S.)

  
  


• 
  

  R.W. Sidley Inc. (U.S.)

  
  


• 
  

  CEMEX S.A.B. de C.V.( Mexico)

  
  


• 
  

  Italcementi Group (Italy)

  
  


• 
  

  UltraTech Cement Limited

  
  


• 
  

  Holcim Ltd.( Switzerland)

  
  


• 
  

  HeidelbergCement (Germany) among Infrastructure

  
  

Ready-mix Concrete Industry Developments

May 2020: The technique that UltraTech developed internally takes all the leftover concrete from building sites and turns it into slurry for reuse in ready-mix concrete. Automated plant technology does not dispose of solid or liquid waste, making it ecologically benign.

April 2020: Swansea's COVID-19 pandemic challenges were met with the help of ready-mix concrete from Hanson Group. The factory is temporarily converted into an NHS-approved hospital to provide care and treatment for those affected by the new coronavirus.May 2023: Challenges emerge as rising raw material costs, particularly for cement, impact production margins for ready mix concrete producers. The industry grapples with supply chain disruptions and fluctuating fuel prices.July 2023: Focus on sustainable construction leads to a rise in demand for green concrete alternatives. Manufacturers develop new formulations with lower carbon footprints, appealing to environmentally conscious developers

Ready-mix Concrete Market Segmentation

Ready-mix Concrete Type Outlook

• 
  

  Transit Mixed Concrete

  
  


• 
  

  Shrink Mixed Concrete

  
  


• 
  

  Central Mixed Concrete

  
  

Ready-mix Concrete Production Outlook

• 
  

  On-Site

  
  


• 
  

  Off-Site

  
  

Ready-mix Concrete Application Outlook

• 
  

  Residential Building

  
  


• 
  

  Commercial Building

  
  


• 
  

  Industrial

  
  


• 
  

  Infrastructure

  
  

Ready-mix Concrete Regional Outlook

• 
  

  North America

  
  
  
  
  • 
    

    US

    
    
  
  
  • 
    

    Canada

    
    
  
  
  
  


• 
  

  Europe

  
  
  
  
  • 
    

    Germany

    
    
  
  
  • 
    

    France

    
    
  
  
  • 
    

    UK

    
    
  
  
  • 
    

    Italy

    
    
  
  
  • 
    

    Russia

    
    
  
  
  • 
    

    Spain

    
    
  
  
  • 
    

    Rest of Europe

    
    
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • 
    

    China

    
    
  
  
  • 
    

    Japan

    
    
  
  
  • 
    

    India

    
    
  
  
  • 
    

    South Korea

    
    
  
  
  • 
    

    Australia & New Zealand

    
    
  
  
  • 
    

    Rest of Asia-Pacific

    
    
  
  
  
  


• 
  

  Latin America

  
  
  
  
  • 
    

    Mexico

    
    
  
  
  • 
    

    Brazil

    
    
  
  
  • 
    

    Argentina

    
    
  
  
  • 
    

    Rest of Latin America

    
    
  
  
  
  


• 
  

  Middle East & Africa

  
  
  
  
  • 
    

    Turkey

    
    
  
  
  • 
    

    GCC Countries

    
    
  
  
  • 
    

    South Africa

    
    
  
  
  • 
    

    Rest of the Middle East & Africa