Wilmington, Delaware, United States, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The ready-mix concrete market was valued at US$ 459.5 million in 2022. A CAGR of 6.1% is projected from 2023 to 2031, reaching US$ 782.9 million. Advancements in technology and innovation in the construction industry considerably impact the ready-mix concrete business.
Incorporating automation, real-time monitoring, and quality control methods into the manufacturing and delivery processes improves the efficiency and reliability of ready-mix concrete. These technical developments not only increase the speed and precision of concrete manufacturing but also improve the durability and performance of the finished product, propelling the market forward.
As environmental concerns gain traction, the ready-mix concrete sector is expected to see more developments in sustainable concrete solutions. This could include developing low-carbon or carbon-neutral concrete mixtures, adding alternative resources, and investigating more environmentally friendly manufacturing methods. Governments and regulatory agencies may also help to promote sustainable construction techniques.
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The construction industry, particularly ready-mix concrete, is expected to see more integration of digital technologies. This could include advanced data analytics, IoT (Internet of Things) sensors, and concrete production, transportation, and placement automation. Real-time monitoring of substantial quality, logistical optimization, and predictive equipment repair may become regular procedures, increasing total efficiency and lowering costs.
Key Findings of the Market Report
- In terms of type, transit-mixed concrete will dominate the global ready-mix concrete market.
- The Asia Pacific is expected to expand fastest during the forecast period.
- Demand for ready-mix concrete is expected to increase due to growing residential infrastructure.
- Global demand for ready-mix concrete continues to be driven by an increase in sustainable construction practices.
Global Ready-mix Concrete Market: Key Players
Several leading players dominate the global market, creating a competitive landscape. Some prominent ready-mix concrete manufacturers and suppliers profiled in TMR’s report are as follows:
- CEMEX
- LafargeHolcim
- HeidelbergCement AG
- Buzzi Unicem S.p.A.
- Vicat Group
- CRH plc
- U.S. Concrete, Inc.
- Martin Marietta Materials Inc.
- Sika Barney & Dickenson Inc.
- R.W. Sidley Inc.
Key Developments
- In May 2022, Holcim US acquired Cajun Ready Mix Concrete, one of the largest ready mix companies in Greater Baton Rouge. Through this expansion, Holcim will be able to provide ready-mix customers with greater capacity in Louisiana.
- In April 2023, Cemex introduced Vertua ready-mix concrete containing recycled aggregates in Germany. There are eight Cemex ready-mix concrete plants in Berlin-Brandenburg that offer recycled aggregate concrete: they are technically equipped to produce and supply concrete with recycled aggregate at Spandau, Kreuzberg, Hohenschönhausen, Bernau, Finowfurt, Velten, Schönefeld and Grünheide.
Global Ready-mix Concrete Market: Growth Drivers
- Globally, urbanization and infrastructure development are in high demand due to a growing population. Urban populations continue to grow, increasing the need for residential, commercial, and public infrastructure, including roads, bridges, and buildings.
- Ready-mix concrete is a practical and efficient alternative for building projects, allowing for a quick and reliable supply of high-quality concrete and addressing the growing need for infrastructure development.
- The ready-mix concrete industry, the focus on environmentally friendly building techniques. With increased knowledge of environmental issues, there is an increasing preference for environmentally friendly building materials and practices.
- Ready-mix concrete, manufactured in controlled surroundings, results in less waste, lower carbon emissions, and more energy efficiency than on-site mixing. As a result, construction companies and developers increasingly use ready-mix concrete to achieve sustainability goals while adhering to strict environmental requirements.
- Embracing digital technologies and Industry 4.0 principles can help the ready-mix concrete industry become more efficient and competitive. Implementing real-time monitoring systems, predictive maintenance, and automation in manufacturing processes can enhance resource utilization and lower costs and overall quality. Companies might form relationships with technology companies or engage in internal technical improvements.
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Global Ready-mix Concrete Market: Regional Landscape
- Ready-mix concrete sales are expected to lead the market in Asia Pacific. The Asia-Pacific construction industry is rapidly adopting sophisticated technologies. The ready-mix concrete industry may see more integration of automation, artificial intelligence, and digital solutions to improve production efficiency, quality control, and logistics. This can increase competitiveness and better adaptation to the region's diversified and dynamic construction environment.
- As sustainability gains traction worldwide, Asia-Pacific countries may emphasize sustainable construction practices more. This could increase the market for environmentally friendly concrete mixes, such as those with lower carbon footprints or recycled components.
- Companies in the region may need to align their strategy with changing expectations. Urbanization rates in the Asia-Pacific region are among the fastest in the world. China, India, and Southeast Asian countries are expected to invest extensively in urbanization and infrastructure projects in the region.
- Governments in the Asia-Pacific region are expected to play an important role in influencing the future of the ready-mix concrete market. Infrastructure development is frequently a top priority for government projects, and rules governing sustainable construction techniques, environmental restrictions, and quality standards can considerably impact the use of ready-mix concrete. Incentives or laws that encourage using environmentally friendly concrete solutions may arise.
Global Ready-mix Concrete Market: Segmentation
By Type
- Transit Mixed Concrete
- Shrink Mixed Concrete
- Central Mixed Concrete
- Hybrid Riser
- Others
By Application
- Residential
- Non-residential
- Commercial
- Industrial
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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