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
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