Ready-Mix Concrete Market Size And Forecast By Application (Commercial Building, Residential Building, Infrastructure, Industrial Utilities), By Region (North America, Europe, Asia Pacific, Latin America, MEA) And Trend Report

Ready-Mix Concrete Market Size And Forecast By Application (Commercial Building, Residential Building, Infrastructure, Industrial Utilities), By Region (North America, Europe, Asia Pacific, Latin America, MEA) And Trend Analysis From 2013 - 2024

Published: November 2016  |  80 Pages  |  Format: PDF  |  Report ID: GVR-2-68038-011-8

Market Size and Trends

The global ready-mix concrete market size was valued at USD 492.2 billion in 2015. The market is anticipated to witness immense growth over the next eight years on account of increasing construction spending for infrastructure development in emerging economies of China, India, Mexico, South Korea and Singapore.

RMC is being increasingly used as a building material for residential & commercial buildings, manufacturing facilities, energy generation plants, roads and runways. Infrastructure development in emerging economies coupled with increasing trend of urbanization are some of the key factors which are expected to drive industry growth over the forecast period.

Growing construction spending in light of urbanization, population growth and government infrastructural plans will increase market growth. The government of India launched smart cities program to create cities equipped with good infrastructure offering high quality of life through smart solutions, which is likely to spur the demand for RMC.

Global ready-mix concrete market volume, by application, 2013 to 2024 (Million Tons)

Global ready-mix concrete market

RMC is being preferred over traditional concrete owing to ease of use, greater convenience, economy, and better quality. Furthermore, wastage reduction, low inventory costs, and efficient utilization will lead to the lowering of the overall project expenditures which in turn will augment the product demand over the upcoming years.

Handling concrete from the mixer to the various points of work has been one of the biggest challenges for the growth of the industry. Ready-mix concrete can be delivered at any destination where a truck can travel and can be discharged directly to the workplace or handling equipment at the point of use.

The introduction of Foreign Direct Investment (FDI) and Public Private Partnership (PPP) projects for the construction of infrastructure projects is expected to spur the demand for the product over the upcoming years. However, high initial investment for setting up manufacturing plants for RMC production is anticipated to act as a restraint for new entrants over the forecast period.

Application Insights

Residential was the largest application of RMC in 2015 and accounted for 35.5% of the global volume share. The segment is expected to witness substantial growth over the forecast period owing to the increasing requirement for houses in Europe and Asia Pacific.

Growing population and increasing disposable income in China and India will drive residential construction growth which in turn will spur the demand for RMC. Moreover, establishment of manufacturing facilities and power plants to keep up with the growing demand for energy on a global scale will further stimulate the product requirement over the forecast period.

Global ready-mix concrete market share, by application, 2015 (Million Tons)

Global ready-mix concrete market

Infrastructure is projected to witness the fastest volume growth at a CAGR of 7.9% over the next few years on account of development of highways, expansion of airports and construction of dams and other water conservation systems. Increasing budget allocations for infrastructure development by governments will provide an additional impetus to the growth of the market.

Regional Insights

Asia Pacific accounted for 70.1% of the consumption in 2015, dominating the global market. This trend is projected to continue on account of growing number of infrastructural projects in China, India, Singapore, and Thailand.

Expansion of road infrastructure in Asia Pacific along with government initiatives towards construction and industrial development is expected to positively impact the industry. Furthermore, rapid industrialization and urbanization in emerging economies including India will result in significant increase in construction activities which in turn is likely to fuel market growth. The RMC market in India is estimated to be worth USD 78.7 billion by 2024.

MEA ready-mix concrete market volume, by application, 2024 (Million Tons)

MEA ready-mix concrete market

MEA accounted for the significant share, particularly Saudi Arabia and UAE, on account of increasing infrastructure development in the region. Moreover, rising construction of residential and commercial complexes in the region is expected to augment product demand over the upcoming years.

Rapid population expansion coupled with the infrastructural requirement in Saudi Arabia has led the government to initiate several large-scale construction works in order to ease pressure on existing infrastructure which in turn will spur the market growth over the forecast period.

Competitive Insights

The industry is competitive in nature owing to the presence of a large number of key players present in the U.S., China, and India. Key players of this industry include ACC Ltd., Vicat S.A., Lafarge, Buzzi Unicem S.p.A., Barney & Dickenson, Inc., R.W. Sidley, Inc, CEMEX S.A.B. de C.V., Italcementi Group, UltraTech Cement, Holcim Ltd., Dillon Bros Ready Mix Concrete, LLC, HeidelbergCement, Livingston's Concrete Service, Inc., U.S. Concrete, Inc. and Hanson Cement Ltd.

In July 2016, CEMEX Philippines announced plans to invest approximately USD 300 million in its new cement plant in an attempt to expand its footprint in the country. In July 2016, Heidelberg Cement acquired 45% shares in Italcementi from Italmobiliare. The merger is expected to help both companies expand their respective businesses.

Ready-Mix Concrete Report Scope

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Base year

2015

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Historic

2013 - 2014

Extended historic data (2012 to 2015)

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Forecast

2016 - 2024

Extended Forecast data (2025 – 2027)

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Report details

Market size, company market share, competitive Landscape, growth factors, trends

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Market representation

Million Tons, USD Billion

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Global & Regional (by country)

Information on up to three additional countries

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Company profiles

All major market players

Profiles of 10 additional companies

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Market segments covered in the report

Grand View Research has segmented the ready-mix concrete market by application and region.

  • Global Ready-Mix Concrete Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2013 - 2024)
    • Commercial building

    • Residential building

    • Infrastructure

    • Industrial utilities

  • Global Ready-Mix Concrete Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2013 - 2024)
    • North America

      • U.S.

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

    • MEA

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