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The global concrete market is estimated to grow by USD 157.6 billion at a CAGR (Compound Annual Growth Rate) of 5.69% between 2022 and 2027. The market is experiencing significant growth driven by multiple factors. Firstly, the expansion of the construction industry worldwide, particularly in emerging economies, fuels the demand for concrete as a primary construction material. Additionally, there's a surge in the demand for stamped concrete, especially for flooring applications, owing to its aesthetic appeal and durability. Moreover, the rising popularity of decorative concrete, driven by architectural trends and urbanization, further boosts market growth. These factors collectively contribute to the increasing prominence and demand across various construction projects globally. This market research and growth report includes key drivers, trends, and challenges during the forecasted period.
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The market involves the production, distribution, and sale of concrete and related products. These products include ready-mix concrete, precast concrete, and various accessories. The industry is a major contributor to the global construction sector, with a significant presence in the Non-residential and Residential markets. It requires a deep understanding of the market dynamics, customer needs, and competition. It involves various marketing activities, such as product promotion, pricing strategies, distribution channels, and customer relationship management. The use of advanced technologies, such as digital marketing and automation tools, can help companies streamline their marketing efforts and improve their market presence. Moreover, the market is subject to various regulations and standards, such as the American Society for Testing and Materials (ASTM) and the American Concrete Institute (ACI). Compliance with these regulations is crucial for companies to ensure the quality and safety of their products and services. In conclusion, it is a critical aspect of the construction industry, involving the promotion and sale of concrete products and services to various clients. It requires a deep understanding of market dynamics, customer needs, competition, and regulations to effectively reach and engage potential customers.
Ready Mix Concrete (RMC) is a type of concrete that is manufactured at a central location and transported to construction sites in a ready-to-use state. This method offers numerous advantages, including time efficiency, cost savings, and improved quality. These strategies for RMC companies may include advertising, sales promotions, personal selling, and public relations. These tactics aim to create awareness, generate leads, and, ultimately, increase sales. Additionally, the use of digital marketing channels, such as social media and search engine optimization, can help reach a broader audience and engage potential customers. Moreover, the use of binding agents, such as fly ash and slag, in concrete production is a growing trend in the industry. These materials not only enhance the strength and durability of concrete but also contribute to environmental sustainability. These efforts should highlight the benefits of these eco-friendly alternatives to attract eco-conscious consumers. In summary, it is a crucial aspect of the Ready Mix Concrete industry. Effective marketing strategies can help companies stand out in a competitive market, increase sales, and promote the use of innovative and sustainable concrete solutions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The expansion of the construction industry is the key factor driving the market growth. Growth in construction and renovation activities due to global economic development, the rise in income levels, an increase in urbanization, and rising living standards are expected to drive the growth of the market. The rising commitment among construction industry stakeholders toward green construction, energy efficiency, and the use of advanced materials for building construction is also a major selling point for the dry construction industry.
Moreover, the rise in residential and commercial construction activities and rising investments in infrastructure development in several countries across the world will present considerable opportunities for growth in the market. The increasing adoption of green buildings, new building construction regulations, and the focus on reducing energy consumption in buildings will also drive the growth of the market. Furthermore, factors such as the increase in disposable incomes in emerging economies, rapid industrialization, the changing preference for and perception of sustainable building practices, and the durability of such buildings are expected to drive market growth and trends.
The increasing demand for precast concrete for non-residential construction is one of the primary market trends. Precast concrete is a form of concrete that is prepared, cast, and dried off-site using reusable molds. This whole process is usually done in a controlled factory environment where precast concrete elements can be joined together to form a complete structure. Precast concrete can be more economical and sometimes more practical when compared to conventional building materials. It is typically used for structural components, such as columns, floors, staircases, wall panels, beams, pipes, and tunnels. Moreover, precast concrete elements are used in the construction and building sector for non-residential purposes. This significantly reduces the time for construction, the number of laborers, and costs.
The gradual shift toward the adoption of eco-friendly, cost-effective, modern building designs, especially in non-residential construction, will increase the demand. In addition, the need for a reduction in construction time and cost, coupled with growing industrialization and urbanization in emerging economies, will create an opportunity for manufacturers. Furthermore, the increase in the disposable income of people and changing construction methods from conventional to modern will drive the growth of the market during the forecast period.
Volatility in raw materials prices is a major challenge to market growth. The manufacturing of construction materials is energy-intensive and requires a large number of raw materials, such as fine granules (sand), cement, and granules. The price trends of energy and raw materials are extremely volatile. Energy and raw material prices are usually determined by supply and demand, economic fluctuations, ecological factors, and environmental regulations for access to raw material deposits, production capacity, and transportation costs.
An increase in energy and raw material costs will lead to a rise in production costs. Passing increasing costs to customers leads to a decline in sales volume. It may lead to a decline in profit margins if the increase in production costs is absorbed by the manufacturers of construction materials. Hence, the price volatility of the raw materials used in concrete manufacturing is a major hindrance to the growth of the market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market is experiencing significant growth due to the adoption of technology in manufacturing, particularly in the production of ready-mix concrete. This eco-friendly material is gaining popularity in the construction industry, including residential, commercial, industrial, and infrastructural projects. Cement companies are minimizing cement wastage and controlling the use of raw materials, contributing to market demand. Skilled labor and high initial investment are required for traditional manufacturing methods. However, the precast concrete method offers cost and time reduction, labor reduction, and improved construction quality through process standardization and high-quality control. Precast concrete plants use industrialized methods to produce precast modules, reducing work-zone safety risks, material handling, and scaffolding needs. The hotel and tourism industries benefit from the use of precast concrete due to its finish quality and resistance to moisture and heat. The precast concrete method also reduces pollution and work-zone safety risks compared to traditional casting methods. Contractors and builders appreciate the cost savings and time efficiency of using precast concrete, which can be transported to the construction site and installed quickly. Reinforcing bars are essential for ensuring the strength and durability of concrete structures.
The market share by the ready-mix concrete segment will be significant during the forecast period. Ready-mix concrete is considered for the speedy construction of residential, commercial, industrial, and infrastructural spaces. Minimized cement wastage and control in the use of raw materials for ready-mix concrete are likely to aid its demand in the market. Moreover, the pollution-free nature of the production process is anticipated to support market growth for eco-friendly constructions. Furthermore, the commercial availability of ready-mix concrete through domestic and multinational players, coupled with rising awareness about product benefits in construction activities, is likely to augment the growth of the segment in the forecast period. Reduced site supervision costs and labor costs are driving its popularity in construction activities.
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The ready-mix-concrete segment was valued at USD 232.97 billion in 2017 and continue to grow by 2021. In this segment, the income growth in developed and developing economies has accelerated the construction of building and housing structures, which will lead to the high consumption of concrete. The construction industry is observing rapid changes due to economic growth and is gradually shifting toward ready-mix-concrete for easy and quick use. APAC countries such as China, Japan, and India are majorly responsible for the growth of the segment. This is due to several ongoing construction activities in the region. Furthermore, the rising population in the region is further demanding more new residential houses, which is expected to propel the demand for ready-mix concrete during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. The concrete market in APAC is expanding due to increased demand for industrial buildings, warehouses, and infrastructure. Favorable government initiatives, such as Smart City Mission and Housing for All in India, are driving investments. In APAC, the need for cost-effective and quick-building solutions leads to the adoption. Ready-mix concrete is produced at central plants using cement, sand, water, and aggregates as binding adhesives. Precast products, such as paving stones and slabs, bricks, AAC blocks, and precast elements, are also popular. Central plants produce precast elements for facades, floors, and building blocks. It is used in large infrastructures like bridges, water management systems, and roads. Government expenditures on road improvements and the construction of roads and highways contribute to the market's growth. Rapid urbanization and industrialization increase construction activities, leading to the use of reinforced and non-reinforced concrete in roads, highways, tunnels, dams, and power plants. Mining and the production of cement are essential to the market. Mobile concrete trucks and trailers transport concrete to construction sites. Machinery is used to mix and transport concrete, reducing wastage. The market includes the production and use of concrete in pipes, precast products, and elements for buildings and infrastructure.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adelaide Brighton - The company offers general-purpose concrete, which is suitable for many general applications, such as the construction of garden paths, stepping stones, and light foundations.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
In the realm of business and commerce, Concrete Marketing plays a pivotal role in connecting brands with their audience. This marketing strategy is particularly effective in industries such as construction, where products like cement, blocks, and aggregates are in high demand. It involves a comprehensive approach that includes advertising, promotion, and public relations. It aims to create awareness, generate leads, and build customer loyalty. For instance, through targeted digital marketing efforts, concrete companies can reach potential clients in specific geographic areas. Moreover, content marketing is an essential component of concrete marketing. This strategy involves creating and sharing valuable, relevant, and consistent content to attract and engage a clearly defined audience. For example, a concrete company might publish articles on industry trends, share case studies of successful projects, or provide educational resources on the benefits of using their products.
Additionally, events and sponsorships are effective ways to build brand awareness and establish industry credibility. Concrete companies can participate in trade shows, seminars, and conferences to showcase their products and services. Sponsoring industry events and initiatives can also help to build relationships and generate leads. In conclusion, it is a crucial aspect of the construction industry. It encompasses various strategies, including digital marketing, content marketing, events, and sponsorships, to connect with customers and build brand awareness.
The market is a vital component of construction, providing the foundational material for various structures and infrastructure projects worldwide. Central plant ensures the production of consistent and high-quality concrete mixes used in diverse applications such as paving stones & slabs, precast element, and reinforced concrete structures like dams & power plants. Concrete is extensively utilized in building exteriors, including façade, and interior elements like floor, contributing to the construction of non-residential buildings. Emphasizing sustainability, the market is witnessing a shift towards Environment friendly material, addressing concerns about environmental impact and promoting sustainable construction practices. Despite challenges like the occasional outbreak, the market continues to play a pivotal role in shaping modern infrastructure and architectural landscapes.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
Market growth 2023-2027 |
USD 157.6 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.46 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adbri Ltd., Broco Industries, Cementir Holding NV, CEMEX SAB de CV, CRH Plc, HeidelbergCement AG, Holcim Ltd., JSW Cement Ltd., Laing O Rourke, PPC Ltd., RW Sidley Inc., Saint Gobain, Shay Murtagh Precast Ltd., Sika AG, The QUIKRETE Companies, US-Concrete Inc., Vicat SA, Votorantim SA, Weckenmann Anlagentechnik GmbH and Co. KG, and Xella International GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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