The ready-mix concrete market is expected to grow at a compound annual growth rate (CAGR) of 5.39% during the forecast period.
Ready-mix concrete is concrete that is manufactured in particular batches for specific quantities. This is transported to the usage site after the manufacturing of it. The mix consists of Portland cement, water, and aggregates such as sand, gravel, or crushed stone, based on the customer's requirements. The ready-mix concrete has multiple advantages, such as it can be obtained in small or large quantities of concrete as per the requirements and can be delivered timely at the site. The demand for storage is not required, as it is directly delivered. The delays are reduced, hence no equipment to hire and no depreciation of costs. This is a highly versatile product with the best concrete placing methods. The lower consumption of cement is useful in the cost benefits and environmental pollution.
The major driving factors for the market are growing construction activities worldwide, increasing demand for infrastructure projects in growing economies, and other operational and economic benefits. The ready-mix concrete is used in residential construction for foundations, driveways, floors, and walls. Further, it could also be used in the construction of office buildings, shopping malls, and parking structures.
The construction industry is growing worldwide as the economies of the world grow. The reason for the rapid growth in the construction industry is due to factors like growing urbanization. Today, about 55% of the world's population lives in an urban setup, and it is expected to increase to 68% by the year 2050, according to the United Nations. It is projected that by 2030, the world will have 43 megacities. As the world is growing, it is urbanizing, and sustainable development depends increasingly on the growing infrastructure and construction activities.
The growth explains the dynamics of the industry. This increase in the demand for construction would not only increase employability but also the overall demand for raw materials in the sector. The use of ready-mix concrete is essential for the strength, permeability, shrinkage, etc. The use of ready-mix concrete reduces the dust as it makes use of bulk concrete instead of bags of cement. Relative use of the fossil fuel consumed would be less, thus air pollution is reduced.
Infrastructure projects like bridges, highways, dams, and tunnels can be developed using ready-mix concrete. The durability and strength of ready-mix concrete ensure that the structure can withstand heavy loads and adverse environmental conditions. In March 2023, Aamal Company Q.P.S.C., one of the leading companies of Qatar, announced that its fully-owned subsidiary, Aamal Readymix, had been awarded a contract by the Porr-HBk-Midmac consortium for the Wakra and Wukair drainage tunnel project. This project would have started in April 2023, with the company supplying ready-mixed concrete products, and will run for 18 months. This contract showcased a milestone in Aamal Readymix’s journey at the forefront of Qatar’s infrastructure development. Aamal Readymix has an annual production capacity of 600,000 cubic meters for ready-mixed concrete in Qatar. As of March 2023, Aamal Company Q.P.S.C. had a market capitalization of QAR 5.10 billion (US$ 1.40 billion).
The improvements in the present infrastructure and the making of new infrastructure require raw material application and manpower demand. Ready-mix concrete not only provides many advantages but also offers economic and environmental benefits, making it a sustainable choice for infrastructure applications.
Ready mix concrete is made from a combination of cement, fine and coarse aggregates, water, and admixtures. Ready-mix concrete is a specialized concrete for building and housing that has various options. The advantage of a ready-mix concrete plant is followed by having mechanized operations. The production obtained from a site-mix concrete plant using an 8/12 mixer is 4 to 5 metric cubes per hour, which is 30-60 metric cubes per hour in a ready-mix concrete plant. This gives a productivity advantage for the material.
Another advantage of ready-mix concrete is the reduced consumption of cement by 10 – 12%. It is being replaced by other cementitious materials and admixtures to reduce the amount of cement. Further, ready-mix concrete manufacturing is likely to be less dependent on human labor, hence, errors are reduced.
The major economies are India, China, Japan, Korea, and Australia, which play a vital role in the rapid economic growth and industrialization in the region. Furthermore, countries of ASEAN, like Thailand, Vietnam, Cambodia, Singapore, the Philippines, and Indonesia, are having fast economic growth in the region. This is taking increasing infrastructural development. The overall infrastructure development is taking place at a rapid pace, owing to projects like the Belt and Road Initiative by China.
India has a plan the spend US$ 1.723 trillion on infrastructure between FY24 and FY30. This is particularly focused on the power, roads, and developing industries like renewable energy and electric vehicles. In the aviation sector, the number of airports has reached 149, and Indian airlines have ordered more than a thousand new aircraft. FDI in construction development reached US$ 33.91 billion in March 2024.
The Infrastructure investment in Korea has been US$5,964 million for transport, US$2,746 million for water, for other infrastructure US$3,914 million, and US$1,806 million for Social infrastructure. This important investment lies in the various transformative outcomes of society.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 5.17% from 2025 to 2030 |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2025 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
The ready-mix concrete market is segmented and analyzed as follows: