Ready-Mix Concrete Market Size & Trend Report

Ready-Mix Concrete Market Size & Trend Analysis Report By Application (Commercial, Residential, Infrastructure, Industrial Utilities), By Region, And Segment Forecasts, 2016 - 2024

  • Published Date: Nov, 2016
  • Base Year for Estimate: 2015
  • Report ID: GVR-2-68038-011-8
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2014
  • Number of Pages: 80

Industry Insights

The global ready-mix concrete (RMC) market size was estimated at USD 492.2 billion in 2015, and is expected to grow at a CAGR of 7.7 % over the forecast period. The market is anticipated to witness immense growth on account of increasing spending for infrastructure development in emerging economies of China, India, Mexico, South Korea, and Singapore.

Increasing urbanization, population growth, and government infrastructural plans are expected to be key factors influencing the 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.

U.S. ready-mix concrete market

In the U.S., RMC is being increasingly used as a building material for residential & commercial construction, 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.

RMC is preferred over traditional concrete owing to ease of use, greater convenience, 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 is likely to augment the product demand over the projected period.

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 application was emerged as a dominant segment in 2015, accounting for 34.6% of the overall industry revenue. Increasing consumer spending on residential buildings coupled with consumer preference towards single-family houses, especially in the U.S. is expected to have a positive impact on the market growth.

Growing population and increasing disposable income in China and India is driving the residential construction industry growth, thereby influencing the market positively. 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 (RMC) market

Industrial segment is expected to witness substantial growth over the forecast period owing to expanding industrial sector such as warehouses and others in developing economies of Asia Pacific. The government is initiating numerous large-scale construction works in order to ease pressure on present infrastructure, which is likely to influence the market growth.

Infrastructure segment accounted for 25.2% of the revenue share in 2015 and is expected to grow at the fastest rate over the projected period. The segment is expected to gain momentum owing to 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 emerged as a dominant region in 2015 and accounted for 68.1% of the total revenue share. This trend is projected to continue on account of growing number of infrastructural projects in China, India, Singapore, and Thailand. Expansion of road infrastructure along with government initiatives towards construction and industrial development in the region is expected to positively impact the industry.

The RMC industry is at its early stage of development in India as it offers strong value and growth creation potential. The availability of favorable government policies and the skilled workforce at lower cost allows manufacturers to invest in the country. Rapid residential construction growth in the country is likely to drive the industry growth in the region.

Saudi Arabia and UAE are likely to be the key markets for RMC in the Middle East & Africa (MEA) on account of high investments in 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. The expanding tourism industry in MEA is creating new growth opportunities for RMC manufacturers.

Ready-Mix Concrete Market Share Insights

The industry is highly competitive in nature owing to the presence of a large number of players. 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, and HeidelbergCement.

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.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Volume in Million Tons, Revenue in USD Billion, and CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Germany, UK, China, India, Brazil

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

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