Ready-Mix Concrete Market is Anticipated to Grow at over 7% CAGR through 2029; South Asia Poised for Substantial Growth: PMR
Published On : May 13, 2019
Persistence Market Research delivers key insights on the global ready-mix concrete market, in its report titled, 'Ready-Mix Concrete Market: Global Industry Analysis 2014–2018 and Forecast 2019–2029'. Over the coming years, the global ready-mix concrete market is expected to show a positive outlook, owing to the rising demand from infrastructure as well as residential projects across various geographies. On the basis of concrete type, the standard concrete segment is expected to account for a prominent share throughout the forecast years, supported by its usage in various applications in sectors such as residential, commercial, infrastructure, etc.
Globally, the ready-mix concrete market was valued at US$ 59.8 Bn at the end of 2018. East Asia is expected to account for a lion’s share in the global ready-mix concrete market throughout the forecast years, owing to the rising demand from China.
Global Ready-Mix Concrete Market: Dynamics
The construction materials market, primarily ready-mix concrete, has witnessed substantial incremental growth over the recent years. This can be primarily attributed to the economic conditions in numerous countries. The construction industry across emerging economies is anticipated to witness acceleration in various large-scale infrastructural programs, which, in turn, is expected to create public-private partnership opportunities. Thus, increasing governmental spending as well as favorable economic conditions are expected to assist the global ready-mix concrete market over the coming years
However, the global ready-mix concrete market faces various challenges such as the on-time delivery of ready-mix concrete at construction sites. The uninterrupted and timely delivery of ready-mix concrete at construction sites is of utmost importance for effective construction operations. Due to the small time window available for the transportation of concrete material, delivering this material in the shortest time is imperative.
The utilization of environmental-friendly (green) products for the manufacturing of ready-mix concrete is found to be one of the key trends in the global ready-mix concrete market. For instance, RMCMA, jointly with the Confederation of Indian Industry and Quality Council of India, developed a green product certification for ready-mix concrete.
Global Ready-Mix Concrete Market: Forecast
Among the different concrete types, the flowable fill/CLSM segment accounted for a very small share in the market at the end of 2018. However, its demand is expected to witness prominent growth in the global ready-mix concrete market over the forecast years. The flowable fill/CLSM concrete type is comparatively an economic alternative to compacted granular fill, which saves labor costs, time, as well as equipment.
Considering the regions, developing economies such as India and China are expected to witness substantial growth throughout the forecast years, supported by various governmental initiatives towards development, such as the Bharat Mala Pariyojna, Sagarmala Project, Shanghai urban rail transit expansion, intercity rail network in Eastern Guangdong, etc. The ready-mix concrete market in North America is expected to witness a below-average growth rate over the forecast years.
Global Ready-Mix Concrete Market: Competitive Landscape
Some of the market participants included in the report on the ready-mix concrete market are CEMEX S.A.B. de C.V., HeidelbergCement AG, LafargeHolcim Ltd., CRH plc, Martin Marietta Inc., Vulcan Materials Company, Vicat S.A., Votorantim Cimentos, Dillon Bros Concrete LLC, RDC Concrete (India) Pvt. Ltd., UltraTech Cement Ltd., ACC Limited, Prism Johnson Limited, Nuvoco Vistas Corp Ltd., Skyway RMC Plants Private Limited, CONCRETE INDIA, RayMix Concrete India Pvt Ltd., etc.
Owing to the low entry barriers, a large number of players are continuously investing in production facilities of ready-mix concrete across the globe. Hence, the market structure of ready-mix concrete is found to be consolidated in nature. The top 5 players in the global ready-mix concrete market accounted for around 12% of the overall sales of ready-mix concrete in the year 2018. Long-term contracts and the introduction of environmental-friendly ready-mix concrete into the market are found to be the key strategies being adopted by players in the market.
For more information on PMR’s research on the global ready-mix concrete industry, write to email@example.com
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