What Has Been The Evolution of the Ready Mix Concrete Market in Recent Years?
The ready mix concrete market has seen considerable growth due to a variety of factors.
• Over the years, the size of the ready mix concrete market has experienced substantial growth. It is projected to expand from $874.38 billion in 2024 to $942.96 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%.
This significant growth rate during this historical period is associated with factors such as population growth, an increase in residential construction and the rising demand for high-performance concrete, in conjunction with an uptick in the utilization of recycled materials.
How Will the Ready Mix Concrete Market?
The ready mix concrete market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the ready-mix concrete market is anticipated to experience significant expansion in the upcoming years, reaching $1257.56 billion by 2029 with a compound annual growth rate (CAGR) of 7.5%.
The projected growth during the forecast period is linked to the escalating demand for sustainable and environment-friendly construction materials as well as the rising need for self-consolidating concrete. The increase in government investments and the growing awareness of the advantages of ready-mix concrete also contribute to the market's growth, in addition to the rising demand for tailor-made concrete. Looking ahead, the readiness of technological and automation advancements appears as major trends in the forecast period.
Which Factors Are Boosting Growth In The Ready Mix Concrete Market?
The boost in demand for upkeep and fixing of infrastructure is anticipated to accelerate the growth of the ready-mix concrete market. Infrastructure upkeep envelopes the maintenance, construction, and repairing of numerous elements such as irrigation systems, roads, paths, buildings, fences, and walls. Ready-mix concrete is a vital tool in maintaining infrastructure as it refurbishes buildings, roads, and bridges. It is often employed in fixing fractured concrete structures, filling potholes, and restoring damaged concrete surfaces. For example, as per the Department for Business, Energy and Industrial Strategy in the UK, the nation's construction output grew by 0.3% in the fourth quarter (Oct to Dec) of 2022 compared to the third quarter (July to Sept) of 2022, incorporating both new work (0.4%) and repair and maintenance (0.1%). Moreover, the annual production of construction ascended by 5.6% in 2022 compared to the previous year. Thus, the augmentation in demand for infrastructure upkeep and repair is fueling the growth of the ready-mix concrete market. Rising infrastructure investments are speculated to inject momentum in the ready-mix concrete market. These funds are directed towards the creation, enhancement, and maintenance of crucial physical structures and systems integral for economic activities. Ready-mix concrete is instrumental in the development of infrastructure, used prominently in the creation of roads, bridges, buildings, and various other infrastructure projects. To illustrate, as per the report by USA Facts, an American non-profit organization and website that provides comprehensive data about the US population, the federal government expensed $36.6 billion directly into infrastructure and conferred an additional $94.5 billion to states in 2022. The bill appropriated $550 billion in novel expenditure to renovate roads, bridges, railways, airports, and facilitate high-speed internet access while addressing climate concerns. Therefore, the climbing investments in infrastructure are spurring the growth of the ready-mix concrete market.
What Key Areas Define The Segmentation Of The Global Ready Mix Concrete Market?
The ready mix concrete market covered in this report is segmented –
1) By Type: Transit Mix Concrete, Central Mix Concrete, Shrink Mix Concrete
2) By Mixer Type: Volumetric, Barrel Truck Or In-Transit Mixer
3) By Delivery Model: On-Site, Off-Site
4) By Application: Commercial, Residential, Infrastructure, Industrial Utilities
Subsegments:
1) By Transit Mix Concrete: Standard Transit Mix, High-Strength Transit Mix, Lightweight Transit Mix
2) By Central Mix Concrete: Dry Batch Central Mix, Wet Batch Central Mix
3) By Shrink Mix Concrete: Shrink-Mixed Concrete for Pavements, Shrink-Mixed Concrete For Structures
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What Trends Are Reshaping The Future Of The Ready Mix Concrete Market?
Leading businesses in the ready-mix concrete industry are concentrating on the creation of novel products like pre-blended mixtures to maintain their market standing. A pre-blended mixture is a preliminarily combined set of various elements that together form a single component. For example, in March 2023, ACC Limited, a company based in India that manufactures cement and ready-mix concrete, introduced an innovative concrete solution named Bagcrete, which is a pre-blended mix of cement, sand, and aggregates. The design of the product is aimed at providing attributes like high compressive strength (ranging from 10 MPa to 80 MPa), retention of workability, and easy insertion. This special concrete solution enhances efficiency as it can be easily transported in bags, making it ideal for distant construction sites and maintenance tasks. ACC Bagcrete is available in two variants - dry-mix and wet-mix. The dry mix is a pre-mixed concrete that just needs water to be added for immediate use, while the wet-mix is ready-to-use concrete that doesn't require further mixing prior to usage.
Who Are the Key Players In The Ready Mix Concrete Market?
Major companies operating in the ready mix concrete market are:
• Holcim Group
• Heidelberg Cement AG
• CEMEX S.A.B. de C.V
• UltraTech Cement Ltd.
• Vulcan Materials Co.
• Martin Marietta Materials Inc.
• CRH PLC
• Cementir Holding NV
• Argos SA
• Titan America LLC
• Thomas Concrete Group
• Buzzi Unicem SpA
• Ash Grove Cement Company
• Irving Materials Inc.
• R.W. Sidley Inc.
• CalPortland Company
• Prairie Material
• Ozinga Bros Inc.
• BuzziUnicem S.p.A
• Chaney Enterprises LP
• St. Marys Cement Group
• Maschmeyer Concrete Company
• Don Chapin Co.
• Norwalk Concrete Industries Inc.
• Leesburg Concrete Company.
What Is The Most Dominant Region In The Ready Mix Concrete Market?
Asia-Pacific was the largest region in the ready-mix concrete market in 2024. The regions covered in ready mixed concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
