New Analysis from Global Industry Analysts Reveals Steady Growth for Ready-Mix Concrete, with the Market to Reach $569.9 Billion Worldwide by 2026

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Oct 07, 2021, 10:15 ET

SAN FRANCISCO, Oct. 7, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Ready-Mix Concrete - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 20; Released: September 2021
Executive Pool: 8103
Companies: 301 - Players covered include ACC Limited; Barney & Dickenson, Inc.; Buzzi Unicem SpA; CEMEX S.A.B. DE C.V.; CRH plc (Ireland); Dillon Bros Concrete LLC; HeidelbergCement AG; Hanson UK; LafargeHolcim Ltd.; Livingston's Concrete Service, Inc.; Martin Marietta Inc.; Prism Johnson Limited; R.W. Sidley, Inc.; U.S. Concrete, Inc.; UltraTech Cement Ltd.; Vicat SA; Vulcan Materials Company and Others.
Coverage: All major geographies and key segments
Segments: Type (Transit Mix, Central Mix, Shrink Mix); Application (Residential, Infrastructure, Commercial, Industrial)
Geographies: World; USA; 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; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Ready-Mix Concrete Market to Reach US$569.9 Billion by the Year 2026
Ready-mix concrete (RMC) is defined as a ready to use material that contains predetermined combination of aggregates, sand, water, and cement. Growth in the global market is led by high demand for such concrete, especially in urban areas. Recovering construction activity in developed economies and strong growth opportunities for residential and infrastructure construction projects in developing nations is expected to boost demand for construction materials in the future years. Other factors affecting the ready-mix concrete industry include environmental concerns; changes in lending standards and interest rates; and regional laws related to heavy transportation. In addition, regulatory mandates are spurring companies to invest in sustainable and advanced construction technologies, resulting in the development of new types of construction materials. For instance, new production technologies are enabling ready-mix concrete suppliers to continuously produce concrete volumes of more than 100 cubic meters per hour. Moreover, the addition of all ingredients, such as cement and aggregates are automated, including pre-treatment, for unhindered all-weather operation.

Amid the COVID-19 crisis, the global market for Ready-Mix Concrete estimated at US$378.5 Billion in the year 2020, is projected 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 projected to grow at a 6.5% CAGR to reach US$339.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Central Mix segment is readjusted to a revised 8.2% CAGR for the next 7-year period. This segment currently accounts for a 28.7% share of the global Ready-Mix Concrete market. Transit mixed concrete is the most commonly used type of ready-mix concrete. The transit-mixed concrete prevents issues associated with slump loss or early hardening of the concrete. In case of centrally mixed concrete, a stationary mixer blends the concrete materials before loading into the truck mixer. Major advantage of central mixing is faster batching and minimal wear of the truck mixer drums.

The U.S. Market is Estimated at $49 Billion in 2021, While China is Forecast to Reach $222 Billion by 2026
The Ready-Mix Concrete market in the U.S. is estimated at US$49 Billion in the year 2021. The country currently accounts for a 12.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$222 Billion in the year 2026 trailing a CAGR of 8.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$241.7 Billion by the end of the analysis period. Developing economies are expected to lead growth in the global market led by improving construction activity, continuous industrialization in regional powerhouses such as China and India, increasing income levels, higher spending power, improving standards of living, and resulting higher demand for residential and commercial constructions. The developed markets show an increasing penchant for ready-mix concrete as compared to traditional site mixing.

Shrink Mix Segment to Reach $79.9 Billion by 2026
Shrink-mixed concrete refers to the type of ready-mix concrete prepared at the manufacturing units. The components are added to the batching plants, and the volumes are adjusted as per the strength requirements of the concrete. The concrete is then shifted through concrete pumps. In the global Shrink Mix segment, USA, Canada, Japan, China and Europe will drive the 6.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$34.3 Billion in the year 2020 will reach a projected size of US$57.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.3 Billion by the year 2026, while Latin America will expand at a 7.7% CAGR through the analysis period. More

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