Impact of Covid-19 Outbreak on Ready-mix Concrete Market Analysis

Ready-mix concrete is a mixture of water, sand, cement, and aggregates. It is used in the construction sector owing to its benefits such as sturdy, long-lasting, and strong. In the observation offered by Market Research Future (MRFR), the global ready-mix concrete market is poised to scale 8.02% CAGR over the forecast period 2017 to 2023. This type of concrete is very useful for applications ranging from the intermittent placing of concrete to large applications that have limited space for aggregate stockpiles mixing plant.

Ready-mix concrete is being preferred over traditional concrete owing to various factors. Some of these factors are better quality, ease of use, economical, etc. These factors are supposed to drive the growth of the ready-mix concrete market over the next few years. In addition, this concrete lowers down the cost of construction projects by minimizing wastage and lowering inventory costs. These factors are supposed to lead the expansion of the ready-mix concrete market in the foreseeable future. The report presents an observation that the rising awareness about the benefits of the concrete over traditional ones is poised to accelerate revenue creation in the market in the coming years.

The growth of the construction industry plays a very crucial role in the development of the ready-mix concrete market. It is supposed to benefit from the rising investments in construction projects for both residential and commercial applications. Ready-mix concrete market is expected to capitalize on the growing infrastructural development projects, especially in the developing regions. The durability and sustainability of the product is prognosticated to influence the ready-mix concrete market positively. Population explosion, in conjunction with increasing income levels, is anticipated to lead the proliferation of the ready-mix concrete market in the upcoming years.

Market Segmentation:

The ready-mix concrete market has been divided, on the basis of production, into on site and off site.

The segments of the ready-mix concrete market identified on the basis of application are residential, commercial, industrial utilities, and infrastructure.

Regional Analysis:

The regional assessment of the global ready-mix concrete market has been covered in this report for the following segments – Europe, Asia Pacific, North America, and the Rest of the World (RoW). These segments are then analyzed on the basis of countries present. Asia Pacific is dominating the global RMC market currently. Increasing number of infrastructural development projects in countries such as India is poised to drive the growth of the market in the region. Also, the rising population of the region has led to a demands for increasing residential spaces. This demand is backed by the growing rising per capita income and is poised to support the expansion of the ready-mix concrete market in the foreseeable future. North America also holds a pivotal position in the global demand for commercial ready-mix concrete. It is backed by the investments being made in the revamp of the construction industry. Also, the increasing investments in the establishment of commercial spaces are anticipated to boost revenue generation in the regional ready-mix concrete market.

Competitive Dashboard:

ACC Limited (India), Lafarge (France), Vicat SA (France), Buzzi Unicem S.p.A. (Italy), R.W. Sidley, Inc. (U.S.), Barney & Dickenson, Inc.(U.S.), Holcim Ltd.(Switzerland), CEMEX S.A.B. de C.V.(Mexico), UltraTech Cement Limited (India), Italcementi Group (Italy), and Heidelberg Cement (Germany) are some of the major players of the global ready-mix concrete market.

Industry News:

In December 2019, Ramco Cements Limited, a business group based in Chennai, India, has announced the launch of Ramco Supercrete, high strength and environment friendly cement for crack-free concrete.

In December 2019, SRM Concrete, a Tennessee-based company, has announced the acquisition of our Augusta-Aiken area concrete plants from Grupo Argos S.A., the Colombian construction conglomerate.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

Read More: https://www.marketresearchfuture.com/covid-19-analysis