Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global ready-mix concrete market size stood at US$ 459.5 Mn in 2022 and is expected to reach US$ 782.9 Mn by 2031. The global industry is likely to grow at a CAGR of 6.1% during the forecast period between 2023 and 2031.
Ready-mix concrete is a growing and dynamic industry that is predicted to expand rapidly in the next few years. An increase in demand for time-sensitive and cost-effective building techniques, particularly in developing countries, is anticipated to boost the global ready-mix concrete market.
Rise in usage of sustainable building materials and methods, particularly for green building certification schemes that require eco-friendly products and procedures, is expected to drive industry growth. However, changing raw material prices are likely to stymie business growth in the near future.
Increase in construction activities is projected to open up lucrative growth prospects for market participants. Market players are concentrating on developing sustainable methods to remain competitive in the global industry.
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Ready-mix concrete reduces the time and cost associated with construction procedure by eliminating the need for labor-intensive on-site mixing. This results in a faster and more efficient construction process for construction companies as well as project managers. Concrete that has been pre-mixed can be used in commercial, infrastructure, and residential applications.
The primary drivers projected to boost the global market are infrastructure growth, urbanization, and use of environmentally-friendly construction approaches. Price fluctuations in raw resources and environmental concerns are estimated to spur innovation and higher investments in sustainable solutions.
Global Ready-mix Concrete Market: Growth Drivers
- Increase in demand for infrastructural maintenance and repairs in developed countries is expected to fuel market development. Ready-mix concrete is utilized for upkeep of existing infrastructure such as buildings, bridges, and roads, as well as to create new projects including ports, train, and airports. Additionally, rise in popularity of sustainable building methods and materials is driving the usage of ready-mix concrete.
- Rise in demand for environmentally-friendly construction techniques is another important driver of the global ready-mix concrete market. Concrete is a recyclable and reusable material. Therefore, it is a promising alternative for project managers and construction companies. Ready-mix concrete also helps reduce the requirement for maintenance and repairs, thereby lowering the environmental impact of these activities.
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Key Findings of Market Report
- Based on type, the transit mixed concrete segment led the global industry in 2022 and is anticipated to remain dominant from 2023 to 2031. Advanced automated batching technologies are used in ready-mix concrete facilities to provide exact and dependable material combination. These systems employ computer-controlled software to oversee the procedure of mixing and make adjustments to ensure the concrete meets the necessary criteria.
Global Ready-mix Concrete Market: Regional Landscape
- In terms of region, the Asia Pacific market is expected to grow at the highest CAGR between 2023 and 2031. Business growth can be ascribed to rapid population expansion, rise in urbanization, and upsurge in infrastructure construction work in the region.
Global Ready-mix Concrete Market: Key Players
Some of the key players in the global ready-mix concrete market are
- Sika Barney & Dickenson, Inc.
- HeidelbergCement AG
- R.W. Sidley, Inc.
- Buzzi Unicem S.p.A.
- U.S. Concrete, Inc.
- Vicat Group
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Global Ready-mix Concrete Market: Segmentation
Type
- Transit Mixed Concrete
- Shrink Mixed Concrete
- Central Mixed Concrete
- Hybrid Riser
- Others
Application
- Residential
- Non-residential
- Commercial
- Industrial
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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