Ready-mix Concrete: Introduction
- Ready-mix concrete is a type of concrete, which is a mixture of portland cement, water, sand, and coarse aggregates. It is eco-friendly compared to site mix concrete, as mixing is done in closed chambers. This reduces noise and air pollution. Ready-mix concrete is manufactured in a cement factory or within a batching plant based on specification required. This type of concrete is widely in for construction due its high durability and sustainability as compared to normal concrete.
Key Drivers and Restraints of Global Ready-mix Concrete Market
- The ready-mix concrete market has developed significantly in the recent years. This can be primarily ascribed to the high performance and increasing availability of advanced construction materials globally. Rise in number of infrastructure projects, including bridges, roads, dams, and airport expansion works, especially in developing countries, is fueling the demand for ready-mix concrete. Thus, the global ready-mix concrete market is expected to expand significantly in the next few years. High government spending on construction, manufacturing, and power plants; rise in population, and trend of urbanization are also boosting the market.
- Various initiatives by governments regarding the development of smart cities are likely to drive the global ready-mix concrete market. Demand for wastage reduction and low inventory costs is leading to a decrease in overall project expenditure. This is anticipated to boost the demand for ready-mix concrete. Ready-mix concrete is extensively used today, owing to the ease of use, high quality, better convenience, and better economy.
- The handling of concrete from the mixer to various points of work is one of the key challenges faced by players operating in the global ready-mix concrete market. High initial investments for setting up manufacturing plants for ready-mix concrete are also estimated to restrain the market. On the other hand, introduction of new infrastructure construction projects is expected to drive the demand for ready-mix concrete in the near future.
Ready-mix Concrete: Type Segment
- In terms of type, the global ready-mix concrete market can be segmented into transit mix concrete, central mix concrete, and shrink mix concrete
- The transit mix concrete segment is expected to account for significant share of the global ready-mix concrete market during the forecast period. It is anticipated to be followed by the central mix concrete segment.
- The shrink mix concrete segment is likely to expand at a rapid pace during the forecast period, due to the expansion of the construction industry around the globe
Ready-mix Concrete: Application Segment
- In terms of application, the global ready-mix concrete market can be segmented into commercial building, industrial utilities, residential buildings, and others
- The commercial building segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the industrial utilities segment.
- The residential building segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in population and urbanization across the globe
COVID-19 Impact on Ready-mix Concrete Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the ready-mix concrete market.
Asia Pacific to Dominate Ready-mix Concrete Market
- In terms of region, the global ready-mix concrete market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the ready-mix concrete market in 2020. The ready-mix concrete market in Asia Pacific is anticipated to expand at a rapid pace. The region is expected to dominate the market during the forecast period owing to the increase in new infrastructure projects in India, Singapore, China, and Thailand. Rapid industrialization and urbanization are also factors driving the market in Asia Pacific.
Key Manufacturers Operating in Global Ready-mix Concrete Market
The global ready-mix concrete market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global ready-mix concrete market include:
- Barney & Dickenson, Inc.
- ACC Ltd.
- Lafarge, Vicat S.A.
- Buzzi Unicem S.p.A.
- R.W. Sidley, Inc
- Italcementi Group
- CEMEX S.A.B. de C.V.
- Holcim Ltd.
- UltraTech Cement
- Dillon Bros Ready Mix Concrete
- Livingston's Concrete Service, Inc.
- Hanson Cement Ltd.
- U.S. Concrete, Inc.
Global Ready-mix Concrete Market: Research Scope
Global Ready-mix Concrete Market, by Type
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
Global Ready-mix Concrete Market, by Application
- Commercial Building
- Industrial Utilities
- Residential Buildings
Global Ready-mix Concrete Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.