Construction Industry Growth to Underpin Ready-mix Concrete Market Growth

Ready-mix concrete finds ubiquitous application as a building material and its market is growing pervasively. Market Research Future (MRFR) has published an exhaustive report on the global ready-mix concrete market, covering the essential accruals of the market based on the pertinent trends and factors that can impact the market in the coming years. As per the analysis of MRFR, teh ready-mix concrete market is likely to capture a CAGR of 8.02% over the forecast period of 2017-2023.

Ready-mix concrete (RMC) is being increasingly preferred over traditional concrete due to various advantages aligned with it such as ease of use, convenience, cost advantage, and better quality. RMC also provides reduced shrinkage, cracking tendencies which has led to its adoption in constructional activities. Rising constructional activities across the globe along with large-scale infrastructure development. The governments in multiple countries, teh developing countries in particular, are investing heavily on the development of industrial areas to attract foreign investment, which subsequently induces demand within the ready-mix concrete market.

However, the growth of the market has been sluggish in certain regions where traditional labor-intensive construction practices are followed still now. In such regions, where concrete is volumetrically-batched and site-mixed, there is little scope for teh growth of the ready-mix concrete market.

Segmentation

The global ready-mix concrete market has been segmented based on production and application.

By production, the ready-mix concrete market has been segmented into off-site and on-site.

By application, the ready-mix concrete market has been segmented into commercial, residential, industrial utilities, and infrastructure.

Regional Analysis

Region-wise, the ready-mix concrete market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

The APAC ready-mix concrete market captured the largest share of the global market in 2016 and is likely to retain its dominance throughout the forecast period. Ongoing infrastructure development in the emerging economies of teh region along with accelerated constructional projects, both residential, industrial, and commercial has bolstered the growth of the ready-mix concrete market. Favorable environment purveyed by supportive government policies and teh availability of relatively cheap labor as well as resources has favored urbanization in the region which consequently boosts teh market growth of ready-mix concrete. China is the most prominent country specific market in the APAC. Rise in disposable income in China has been key to the growth of the market.

The MEA ready mix concrete market is anticipated to showcase substantial growth over the forecast period. Burgeoning population growth and infrastructural development activities present growth opportunities to the MEA market. Saudi Arabia, in particular, is a key contributor to the MEA market.

Competitive Landscape

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

Industry Updates

July 2019 - Ambuja Cement, India's top cement manufacturing and supplier company, controlled by LafargeHolcim announced plans to acquire capacities in ready-mix concrete (RMC) in an attempt to establish itself as a building materials company. The company is eyeing to capitalize on the opportunities offered by other building materials segment.

July 2019 - CEMEX USA announced that it was a sole supplier for west of Houston, Texas, one of the biggest cities in the biggest state in the US. Some of teh projects include the building of an eight storey, luxury mid-rise apartment complex located near the heart of Memorial City where the company supplied nearly 25 000 yd3 of ready-mixed concrete The company is involved in various other projects where the company has provided more than 200 000 yd3 of ready-mixed concrete for MetroNational projects within the last five years.