Ready-Mix Concrete (RMC) Market Analysis APAC, Middle East and Africa, Europe, North America, South America - Iran, Turkey, China, India, Germany - Size and Forecast 2024-2028

Ready-Mix Concrete (RMC) Market 2024-2028

The Ready-Mix Concrete (RMC) Market size is estimated to grow at a CAGR of 5.17% between 2023 and 2028. The market size is forecast to increase by USD 210.44 billion. The growth of the market depends on several factors including the growing construction market, high preference for ready-mix concrete and rising demand for ready-mix concrete for non-residential applications. 

The report includes a comprehensive outlook on the ready-mix concrete market offering forecasts for the industry segmented by Type, which comprises transit mix concrete, central mix, and shrink mix concrete. Additionally, it categorizes Application into non-residential and residential and covers Geography regions, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

What will be the  Ready-Mix Concrete Market Size During the Forecast Period?

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Ready-Mix Concrete Market Definition 

Ready-mix concrete is a construction material manufactured in a factory or a plant within specific guidelines, such as 3-part aggregates, 2-part water, and 1-part cement. When aggregates are mixed together with dry Portland cement and water, the mixture forms a thick fluid mass that easily molds to a predefined shape. The cement reacts chemically with the water and other ingredients to form a hard component that binds other materials. Ready-mix concrete is delivered to a construction site using a truck equipped with transit mixers. Ready-mix concrete is used in various applications. It is widely preferred in large construction sites, such as office buildings, home apartments, roads, and other infrastructure. The increasing acceptance of ready-mix concrete can be attributed to advantages such as better quality, a faster construction rate, higher energy conservation, and the elimination of human error compared with other construction materials.

 

Ready-Mix Concrete Market: Key Drivers, Trends, Challenges

Key Ready-Mix Concrete Market Driver

The growing construction market is notably driving the market growth. The growth of the global construction market is increasing the demand for ready-mix concrete due to its properties such as good workability, excellent compressive strength, low shrinkage cracking tendencies, reduction of volume change from drying, and high resistance to harsh climatic conditions. As ready-mix concrete offers these advantages, its use in the construction market will increase. Countries such as India, China, the US, Brazil, Malaysia, Russia, Hungary, and Vietnam are leaders in the global construction market. APAC comprises the largest number of emerging economies, such as India, Indonesia, Malaysia, Vietnam, Japan, and the Philippines. These countries are focusing on infrastructure development.

Similarly, in Vietnam, the renovation of coastal areas and the establishment of industrial hubs are major infrastructural projects that are underway. Also, major construction projects in China, including the construction of the South-North Water Transfer Project in North China, the expansion of Beijing Airport, and the construction of the Hong Kong-Zhuhai-Macau Bridge, will increase the demand for ready-mix concrete which will have a positive impact on the ready-mix concrete (RMC) market growth. Such factors are expected to drive the market growth during the forecast period. 

Significant Ready-Mix Concrete Market Trends

The growing popularity of geopolymer cement concrete is an emerging trend shaping the market growth. Geopolymers are construction materials made from fly ash, granulated slag, and sodium silicate, which are increasingly used in cement owing to superior properties such as resistance to acids, control of high temperature, and ability to impart high strength to buildings. Moreover, geopolymers are used in concrete production to reduce carbon dioxide emissions. In 2023, geopolymers became one of the fastest-growing markets across the world. One of the widely used concretes in the global construction market is geopolymer cement concretes (GPCCs). GPCCs are inorganic polymer composites that have the potential to replace the use of regular concrete. 

Further, GPCCs are used for the construction of pavements, buildings, and water tanks. They are also used for other infrastructural development activities. GPCCs are widely accepted over conventional Portland cement concrete owing to their lower carbon footprint, high durability, superior strength, and ecological advantages which will have a positive impact on the ready-mix concrete (RMC) market expansion. Thus, the growing popularity of geopolymers in concrete manufacturing is expected to drive the growth of the market during the forecast period.

Major Ready-Mix Concrete Market Challenge

The high operating cost of ready-mix-concrete is a significant challenge hindering market growth. To manufacture ready-mix concrete, various raw materials such as cement, aggregates, and additives are required in large quantities. Ready-mix concrete is more expensive than onsite mix concrete because of the extensive use of cement, manufacturing site management, and the transportation of ready-mix concrete to construction sites. These factors tend to increase the total manufacturing cost of ready-mix concrete on job sites. Some factors, such as the transportation of concrete, which require admixtures such as concrete additives to prevent the concrete from setting quickly, and on-road traffic congestions have increased the operating cost and time for end-users. These factors can be neglected as they cannot be controlled by concrete manufacturers because they are external.

As a result, there are no frameworks to reduce or control them. One of the important factors is the establishment cost incurred by many concrete manufacturers. The cost of operation in developing countries such as India is high owing to high taxes imposed by the government and high operating costs in manufacturing sites, which often increase the price of ready-mix concrete and restrict the ready-mix concrete market growth. Therefore, such high costs will hinder the growth of the market during the forecast period.

Ready-Mix Concrete Market Segmentation by Type, Application and Geography

Ready-Mix Concrete Market Type Analysis 

The market share growth by the transit mix concrete segment will be significant during the forecast period. Transit mix concrete, also called truck mix concrete or dry-batched concrete, is a concrete mixture that's mixed in trucks instead of at a centralized plant. In the truck mixer process, cement, aggregate, water, and additives are loaded into the truck's compartments.

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The transit mix concrete segment was the largest and was valued at USD 455.76 billion in 2018.  The rotating drum of a truck mixer disturbs the concrete mixture so that it doesn't settle. Concrete of this type is manufactured in a central plant by batching the necessary materials, such as cement, aggregate, water, and additives. The mix is then loaded onto transit mixers with rotating drums. Transit mixers keep the concrete in a plastic state throughout transportation, making it easy to pour at the construction site. The benefits of transit mix concrete are better control over the concrete mix. Transit mixers allow for consistent quality and strength in the concrete mix. These abovementioned factors under the transit mix concrete segment will propel the growth of the global ready-mix concrete market during the forecast period.

Ready-Mix Concrete Market Application

Based on application, the market has been segmented into non-residential and residential. The non-residential ?segment will account for the largest share of this segment.? The non-residential segment of the ready-mix concrete (RMC) market consists of commercial infrastructure and is inclusive of municipal and other commercial construction. This segment primarily includes the construction of schools, colleges, amusement parks, hospitals, office spaces, retail outlets, roads, bridges, airports, and other commercial buildings. Ready-mix concrete is widely used in non-residential construction across the world, primarily due to a rise in the number of infrastructural development projects in emerging economies, such as China, India, Indonesia, Brazil, and Russia. Thus, the increasing non-residential construction across the globe is expected to fuel the growth of the market during the forecast period.

Ready-Mix Concrete Market Region Analysis

APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The rising number of construction activities across APAC will drive the demand for ready-mix concrete in the region during the forecast period. Countries such as India, Thailand, Taiwan, Indonesia, and China are the major revenue contributors to the construction industry in the region. In 2023, China accounted for the majority of the construction activities across APAC. In this country, numerous construction projects are expected to be completed in the upcoming couple of years, which will drive the demand for ready-mix concrete in the country during the forecast period. For instance, at the start of 2020, about 300 projects with a planned investment of about USD 36 billion were announced in Beijing. Such an increase in investments in infrastructure development by governing bodies is expected to drive the demand for ready-mix concrete. 

In addition, in May 2011, the Government of Indonesia launched a 15-year economic development plan, Masterplan for Acceleration and Expansion of Indonesia's Economic Development, for the economic development of the country. Thailand undertook its flagship investment projects in 2021, which include the improvement of airports' performance, the metropolitan public transport system development plan, as well as rail and road development plans. These projects in the region, which will extensively require ready-mix concrete, will increase the growth of the ready-mix concrete market demand. Therefore such factors are expected to drive the market growth in the region during the forecast period. 

Key Ready-Mix Concrete Market Companies

Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

ACC Ltd. - The company offers ready-mix concrete products which include Eco pact, gypsum, refractory products, anti-washout concrete and admix, under the brand name of ACC Ltd.

The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including ACC Ltd., Aditya Birla Management Corp. Pvt. Ltd., Aparna Enterprises Ltd., CEMEX SAB de CV, Concrete India RMC, EUROCEMENT Group, Heidelberg Materials AG, Holcim Ltd., JK Lakshmi Cement Ltd., JSW STEEL Ltd., Sai RMC India, Skyway RMC Plants Pvt. Ltd., The India Cements Ltd., Vicat, Votorantim SA, Godrej and Boyce Manufacturing Co. Ltd., Nuvoco Vistas Corp. Ltd., Prism Johnson Ltd., RDC Concrete India Pvt. Ltd., and The Ramco Cements Ltd.

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.

Segment Overview

The ready-mix concrete market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Type Outlook 
  • Transit mix concrete
  • Central mix
  • shrink mix concrete

• Application Outlook
  • Non-residential
  • Residential

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Ready-Mix Concrete Market Scope
Report Coverage	Details
Page number	164
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.17%
Market Growth 2024-2028	USD 210.44 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	4.71
Regional analysis	APAC, Middle East and Africa, Europe, North America, and South America
Performing market contribution	APAC at 49%
Key countries	Iran, Turkey, China, India, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	ACC Ltd., Aditya Birla Management Corp. Pvt. Ltd., Aparna Enterprises Ltd., CEMEX SAB de CV, Concrete India RMC, EUROCEMENT Group, Heidelberg Materials AG, Holcim Ltd., JK Lakshmi Cement Ltd., JSW STEEL Ltd., Sai RMC India, Skyway RMC Plants Pvt. Ltd., The India Cements Ltd., Vicat, Votorantim SA, Godrej and Boyce Manufacturing Co. Ltd., Nuvoco Vistas Corp. Ltd., Prism Johnson Ltd., RDC Concrete India Pvt. Ltd., and The Ramco Cements Ltd.
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 the forecast period
Customization purview	If our 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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What are the Key Data Covered in this Ready-Mix Concrete Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, Middle East and Africa, Europe, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of ready-mix concrete market companies

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