As per Market Research Future (MRFR), the Global Ready-Mix Concrete Market is expected to register an 8.02% CAGR from 2017 to 2023 (forecast period). The report evaluates the effects of the COVID-19 pandemic on the global ready-mix concrete market and offers a reliable estimate of the anticipated volatility in demand over the forecast period.
The ready-mix concrete (RMC) is a blend of cement, water, sand, and aggregates. The manufacturing and delivery of ready-mix concrete through a transit mixer allows the implementation of precise concrete in the construction project, making it sturdy, strong, and long-lasting. Ready-mix concrete is especially advantageous when small quantities of concrete or intermittent concrete are needed. Ready-mixed concrete is also suitable for large jobs where space is limited, and there is little room for a mixing plant and aggregates.
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Notable players in the global ready-mix concrete market include ACC Limited (India), Italcementi Group (Italy), Lafarge (France), Buzzi Unicem S.p.A. (Italy), Vicat SA (France), R.W. Sidley, Inc. (U.S.), Barney & Dickenson, Inc. (U.S.), CEMEX S.A.B. de C.V. (Mexico), UltraTech Cement Limited (India), Holcim Ltd. (Switzerland), and HeidelbergCement (Germany).
Despite its rising growth and popularity, RMC has significant risks in terms of occupational safety. The employees of this sector face the risks that occur during the fabrication process of concrete and its delivery to the construction site. Improving infrastructure and airport expansion projects, particularly in developing countries, is fueling demand for ready-mix concrete. High government spending on construction, manufacturing, power plants, increasing population, and urbanization accelerates the market growth.
Due to ease of use, greater convenience, economy, and better quality, RMC is favored over traditional concrete. In addition, a reduction in waste, low inventory costs, and efficient utilization will reduce overall project expenditure, which will boost demand for products over the coming years. The main advantages of RMC are low labor costs and supervising cost, consumer awareness of eliminating wastage associated with bulk handling, and consistency in quality.
The rise in big projects stimulates the use of RMC due to its high quality and ease of use. The time constraints placed on infrastructure development projects in urbanized economies are generating a high demand for ready-made concrete mixes. In addition, ready-mix concrete reduces shrinkage, cracking tendencies, and volume changes, contributing to increased adoption. The limited-time between the mixing and the going-off of the concrete ensures that the ready-mix should be placed at the plant within 90 minutes of the batching. This is serving as a constraint in the market.
Increased construction of commercial and residential complexes is also expected to raise ready-mix demand in the coming years. Rapid population expansion, coupled with the infrastructural requirements in Saudi Arabia, has led the government to undertake a number of large-scale construction projects in order to ease pressure on existing infrastructure, which in turn, will boost market growth over the forecast period. Rising population and growing disposable income in China and India will drive construction growth, which in turn will fuel demand for RMC.
The global ready-mix concrete market has been segmented into production and application.
By production, the global ready-mix concrete market has been segmented into on-site and off-site.
By application, the global ready-mix concrete market has been segmented into Commercial, Residential, Infrastructure, Industrial utilities.
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Regionally, the global ready-mix concrete market has been segmented into Asia Pacific, North America, Europe, and the Rest of the World.
The Asia Pacific accounted for the largest market share in 2016 and will continue to dominate the next four years. The Asia Pacific will lead the market due to a rising number of new infrastructure projects in India, Singapore, China, and Thailand. Rapid industrialization and urbanization are behind the growth of the Asia Pacific market in these countries. Some of the main factors responsible for market growth in the region are rapid industrialization, population growth, urbanization and favorable government policies, the availability of cheap resources and skilled labor, and low operating and labor costs. On the contrary, it is expected that the implementation of new infrastructure construction projects will increase the demand for ready-mix concrete. This will ensure continued market growth in the coming years.
The ready-mix concrete market is still at an early stage of its development in India but offers a substantial potential for growth and value creation. The Indian construction market is developing in order to experience a large demand for new housing, urbanization, and infrastructure. There is intense competition between well-established players in the construction sector. The number of construction projects is anticipated to increase with an increase in public sector expenditure. The increase in investment in construction, coupled with the rapid growth of the economy, provides the ideal conditions for a number of international vendors to enter the market during the forecast period.
Table of Content
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
5 GLOBAL READY MIX CONCRETE MARKET, BY PRODUCTION
5.2.1 MARKET ESTIMATES & FORECAST, 2017-2023
5.2.2 MARKET ESTIMATES & FORECAST BY REGION, 2017-2023
5.3.1 MARKET ESTIMATES & FORECAST, 2017-2023
5.3.2 MARKET ESTIMATES & FORECAST BY REGION, 2017-2023
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