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The global ready-mix concrete market size is expected to exhibit substantial growth by reaching USD 1,374.2 billion by 2028, exhibiting a CAGR of 8.2% during 2021-2028. Fortune Business Insights™, in its report, titled, "Ready-Mix Concrete Market Size, Share & COVID-19 Impact Analysis, By Application (Residential, Commercial, and Infrastructure), and Regional Forecast, 2021-2028", mentions that the market size was USD 735.9 billion in 2020 and USD 792.2 billion in 2021. The rising adoption of cement in construction projects and robust demand from green constructions are expected to boost market growth during the upcoming years.
ACC Limited and Ambuja Limited Collaborated to Support Workers during Pandemic
ACC Limited and Ambuja Limited collaborated in April 2020 to support patients affected by the COVID-19 pandemic. The company incorporated over 3.30 crores rupees to over 3 NGOs for supporting workers, migrants, laborers, and slum-dwellers. Through this collaboration, the company supported Goonj, Mumbai Roti Bank, and Praja Foundation. This strategy may enable the company to attract consumer attention and support workers. This strategy may enable the companies to improve their brand image.
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Significant Investments in Infrastructure Development and Emergence of Green Buildings to Fuel Market Growth
Increasing investments in the development of infrastructure facilities are likely to boost ready-mix concrete demand. The rising population in developing countries is likely to boost all construction projects. It simplifies construction and reduces costs during construction. Its resistance to harsh environments and ability to reinforce the building's strength is likely to fuel the product's sales. Further, it is used in several green infrastructures because of its structure and long shelf-life. Its incorporation in residential constructions is expected to boost its adoption. In addition, increasing government investments in the development of infrastructure is expected to boost the ready-mix concrete market growth.
Key Players Incorporate Acquisition Strategies to Reinforce Market Position
Prominent companies operating in the market devise acquisition strategies to reinforce their market position. For example, LafargeHolcim completed the acquisition of a leading producer of ready-mix concrete in the U.S. named Metro Mix, LLC in August 2018. This strategy may enable the company to strengthen its presence in the country and boost its market position. Further, the incorporation of research and development may enable manufacturers to tackle shortcomings and boost their product quality. This strategy may enable manufacturers to improve their brand image.
List of Key Players Profiled in the Market Report
Further Report Findings-
Table of Segmentation
Ready-Mix Concrete Market Scope
Value (USD Billion); Volume (Million Ton)
By Application, and By Geography