New Analysis from Global Industry Analysts Reveals Steady Growth in Ready-Mixed Concrete, with Market Expected to Reach $569.9 Billion Worldwide by 2026
San Francisco , March 1, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Ready-Mixed Concrete – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 21; Published: February 2022
Executive Pool: 8103
Companies: 301 – Players covered include ACC Limited; Barney & Dickenson, Inc.; Buzzi Unicem SpA; CEMEX SAB DE CV; CRH SA (Ireland); Dillon Bros Concrete LLC; HeidelbergCement AG; Hanson UK; LafargeHolcim Ltd. ; Livingston, Inc. Concrete Service; Martin Marietta Inc.; Prism Johnson Limited; RW Sidley, Inc.; US Concrete, Inc.; UltraTech Cement Ltd; Vicat SA; Vulcan Materials Company and others.
Blanket: All major geographies and key segments
segments: Type (transit mix, central mix, shrink mix); Application (Residential, Infrastructure, Commercial, Industrial)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Turkey; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global ready mix concrete market to reach US$569.9 billion by 2026
Ready-mixed concrete (CMR) is defined as a ready-mixed material that contains a predetermined combination of aggregates, sand, water and cement. The growth of the global market is driven by strong demand for this type of concrete, especially in urban areas. Recovering construction activity in developed economies and strong growth opportunities for residential construction and infrastructure projects in developing countries are expected to drive the demand for construction materials in the coming years. The main growth driver of the global RMC market is the rapid increase in infrastructure projects in emerging countries. Other factors affecting the ready-mixed concrete industry include environmental concerns; changes in lending standards and interest rates; and regional laws relating to heavy transport. Additionally, regulatory mandates are driving companies to invest in sustainable and advanced building technologies, which is driving the development of new types of building materials. For example, new production technologies allow ready-mixed concrete suppliers to continuously produce concrete volumes of more than 100 cubic meters per hour. Additionally, the addition of all ingredients, such as cement and aggregate, is automated, including pre-treatment, for unhindered all-weather operation.
Amid COVID-19 crisis, global Ready Mixed Concrete market estimated at US$421.4 billion in 2022, is expected to reach a revised size of US$569.9 billion by 2026, growing at a CAGR of 7.2% over the analysis period. Transit Mix, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.5% to reach US$339.2 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Central Mix segment is readjusted to a revised CAGR of 8.2% for the next 7-year period. This segment currently accounts for a 28.7% share of the global ready-mixed concrete market. Transit mix concrete is the most commonly used type of ready-mixed concrete. Transit concrete prevents problems associated with loss of slump or early hardening of concrete. In case of centrally mixed concrete, a stationary mixer mixes the concrete materials before loading them into the mixer truck. The main advantage of central mixing is faster dosing and minimal wear on the mixer truck drums.
The US market is estimated at $51.3 billion in 2022, when China is expected to reach $222 billion by 2026
The ready-mixed concrete market in the United States is estimated at US$51.3 billion in 2022. The country currently accounts for a 12.3% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of 222 billion US dollars in 2026 with a CAGR of 8.2% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 5.2% and 5.8% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.3% CAGR while the rest of the European market (as defined in the study) will reach US$241.7 billion at the end of the analysis period. Developing economies are expected to lead growth in the global market thanks to improved construction activity, continued industrialization in regional powerhouses such as China and India, rising income levels, increased purchasing power, improved living standards and the resulting increased demand for residential and commercial construction. Developed markets are showing a growing leaning towards ready-mixed concrete over traditional site mixing.
Reduce the blend segment to reach it $79.9 billion by 2026
Shrink-mixed concrete refers to the type of ready-mixed concrete prepared in manufacturing units. Components are added to concrete plants and volumes are adjusted based on concrete strength requirements. The concrete is then moved by concrete pumps. In the global Shrink Mix segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6.6% estimated for this segment. These regional markets representing a combined market size of US$34.3 billion will reach a projected size of US$57.2 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$15.3 billion by 2026, while Latin America will grow at a CAGR of 7.7% over the analysis period. Continued
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