Worldwide Ready-Mix Concrete Market Size and Share Will Reach Over USD 965.87 Billion By 2032, at 6.5% CAGR Rise: Polaris Market Research

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Dec 06, 2023, 10:45 ET

NEW YORK, Dec. 6, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Ready-Mix Concrete Market Share, Size, Trends, Industry Analysis Report, By Type (Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete, Hybrid Riser, Others); By Application; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

According to research report, the global ready-mix concrete market size and share is predicted to grow from USD 515.51 billion in 2022 to USD 965.87 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.5 % from 2023 to 2032, according to the latest report by Polaris Market Research.

What is Meant by Ready-Mix Concrete? How Big is Ready-Mix Concrete Market Size and Share?

An Introduction

Ready-mix concrete refers to the concrete that's specifically manufactured in a factory or a batching plant for customers' construction projects. The prepared concrete mix is then supplied to contractors on site using transit mixers mounted on a truck. This concrete type is a combination of paste and aggregates. The paste is usually composed of Portland cement and water, with the aggregates taking the form of gravel, sand, or crushed stone.

Based on the specific mixture of ingredients, ready-mix concrete is available in three types. They are central-mixed concrete, transit-mixed concrete, and shrink-mixed concrete. Ready-mix concrete is obtained using sophisticated equipment and consistent methods, enabling strict control over material testing and process parameters. With the rising requirement for versatile building materials and growing emphasis on robust construction practices, the ready-mix concrete market size is anticipated to grow at a steady rate over the forecast period.

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Which are the Biggest Ready Mix Concrete Companies?

ACC Limited
Barney & Dickenson Inc.
Buzzi Unicem S.p.A.
CEMEX S.A.B. de C.V.
CRH plc
Hanson Cement Ltd.
HEIDELBERGCEMENT AG
Holcim Ltd.
Italcementi Group
Lafarge
LafargeHolcim
R.W. Sidley Inc.
SIKA group
UltraTech Cement Limited
Vicat SA
Vulcan Materials Company

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Important Highlights of the Report

Industry players are shifting their focus towards adopting environmentally friendly and affordable accommodation and building solutions that ensure consistent quality and high standards. This can be achieved through ready-mix concrete.
The significant growth of the construction sector is one of the key drivers of the market.
The ready-mix concrete market segmentation is primarily based on type, application, and region.
Asia Pacific dominated the market with the largest share in 2022.

Ready-Mix Concrete Market Details

Report Attributes	Details
Market value in 2023	USD 547.99 billion
Market value in 2032	USD 965.87 billion
CAGR	6.5% from 2023 – 2032
Base year	2022
Historical data	2019 – 2021
Forecast Period	2023 – 2032

Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

Booming construction sector: The construction sector has experienced significant growth worldwide due to several factors. Population growth, developing economies, and rising urbanization fuel the demand for new infrastructure, buildings, and public facilities. Private entities and governments make investments to meet these requirements. This, in turn, increases construction activities and opportunities for construction firms and drives the ready-mix concrete market demand.

Demand for sustainable construction practices: There is rising awareness about the environmental impact of construction activities, resulting in increased demand for sustainable construction practices. The usage of environmentally friendly materials and energy-efficient designs has become more prevalent. The introduction of new government regulations and the need to reduce carbon emissions fuels the ready-mix concrete market growth.

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Trends and Opportunities

Faster Construction Progress: Ready-mix concrete helps save time and cost for construction firms. Ready-mix concrete eliminates the need for mixing the concrete on-site, as it's mixed and delivered in ready-to-use form. This, in turn, lowers the costs associated with mixing and delivering concrete. In addition, the concrete type enables faster construction progress as it can poured immediately upon arrival, resulting in shorter project timelines and enhanced efficiency.

Segmental Analysis

Transit Mixed Concrete Segment Accounts for the Largest Share

By type, the transit mixed concrete segment held the highest ready-mix concrete market share. This is primarily because transit-mixed concrete, which is completely mixed while being transported toward the destination, is a vital part of the industry. It offers several benefits, including convenience, flexibility, and enhanced control over the quality of concrete. With the growing construction sector and infrastructure development, transit-mixed concrete is in high demand, especially in areas where large construction projects need continuous concrete supply.

Residential Segment Held the Largest Revenue Share

The residential segment is projected to experience healthy growth in the ready-mix concrete market. This is largely because of the rising demand for single-family houses in Asia Pacific and European nations. The growing population and increasing disposable income levels in major developing nations like China and India are anticipated to boost the demand for residential structures, impacting the industry for ready-mix concrete positively. Besides, APAC's industrial development and the introduction of new government policies have prompted industry players to establish plants, thereby contributing to the heightened demand for ready-mix concrete.

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Regional Insights

Which Region Leads the Market for Ready-Mix Concrete?

Asia Pacific: The Asia Pacific region dominated the ready-mix concrete market. It's anticipated to experience substantial growth due to heightened need in major economies like India, China, and South Korea. China, a leading concrete producer due to its ample raw material availability, has a high demand for ready-mix concrete owing to its rising population. The development of new manufacturing facilities in these nations further supports the market's growth in Asia Pacific.

North America: The market for ready-mix concrete is projected to expand in North America over the forecast period. This is primarily due to the increasing demand from both commercial and residential sectors in the region. Other factors driving the region's growth are the increased demand for single housing units and the presence of a robust economy. In addition, the presence of favorable government regulations governing construction schemes and policies supports the market demand in the region.

Browse the Detail Report "Ready-Mix Concrete Market Share, Size, Trends, Industry Analysis Report, By Type (Transit Mixed Concrete, Shrink Mixed Concrete, Central Mixed Concrete, Hybrid Riser, Others); By Application; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/ready-mix-concrete-market

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Key Questions Answered in the Report

What is the current and forecast value of the ready-mix concrete market?
Which factors are propelling the market sales?
At what CAGR is the market expected to grow during the forecast period?
What are the key trends and opportunities in the industry?
Who are the ready-mix concrete market key players?
Which segment accounts for the largest share of the market?

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About Polaris Market Research:

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