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Ready-mix Concrete Market to Exhibit 8.7% CAGR till 2027; Rising Construction of Green Buildings Worldwide to Augment Growth

July 14, 2020 | Chemicals & Materials

The global ready-mix concrete market size is projected to reach USD 1,227.2 billion by 2027. It is expected to grow astonishingly backed by the increasing usage of RMC for the construction of green buildings worldwide. Green buildings help in enhancing the quality of life and reserving precious natural resources. This information is given by Fortune Business Insights™, in a recently published study, titled, “Ready-Mix Concrete Market Size, Share & Industry Analysis, By Application (Residential, Commercial, Infrastructure, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the global market stood at USD 633.4 billion in 2019. However, it is set to exhibit a CAGR of 8.7% during the forecast period between 2020 to 2027.


Hanson Group Supplies Concrete to Support NHS in Meeting COVID-19 Challenges


In April 2020, Hanson Group, a manufacturer of products for a wide variety of industries, delivered concrete to a significant site in Swansea. This was done to support the National Health Service (NHS) in battling the challenges of the current COVID-19 pandemic. The site in South Wales is a single-tiered former film studio and factory. It will be transformed into a hospital that would provide medical care to those affected by coronavirus in the nearby areas.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/ready-mix-concrete-market-103281


Expansion of Construction Industry Worldwide to Accelerate Growth


The construction industry is expanding rapidly across the globe, which, in turn, is surging the demand for this concrete. Apart from that, the rising incomes of people in the developed and emerging economies are resulting in the increasing construction of housing structures and other infrastructures. It is a vital factor that is expected to propel the ready-mix concrete market growth during the forthcoming years. In the Asian countries, such as Japan, India, and China, economic growth is causing the construction industry to prosper. The rising population in these countries is further bolstering the need for residential structures.


However, the outbreak of the COVID-19 pandemic worldwide is set to affect the construction industry severely. This would occur because of the implementation of preventive measures, such as complete lockdown by the regulatory bodies. Several construction sites are shut down. Some of the open sites are constantly facing disruptions in supply chains. These factors may obstruct the market growth.


Key Players Adopt Various Strategies to Intensify Competition


The companies present in the market are persistently striving to intensify competition by adopting various strategies, such as divestments, investments, mergers & acquisitions, hiring distributors & suppliers, partnerships, and collaborations. Some of them are helping in the construction of medical facilities by providing their in-house ready-mix concrete to fit in every patient affected by coronavirus.


Fortune Business Insights™ lists out the names of all the prominent concrete producers operating in the global market. They are as follows:



  • CEMEX S.A.B. de C.V. (Mexico)

  • M. I. Cement Factory Limited. (Dhaka)

  • ACC Ltd. (India)

  • UltraTech Cement Ltd. (India)

  • LafargeHolcim (Switzerland)

  • Buzzi Unicem SpA (Italy)

  • R. W. Sidley, Inc. (U.S.)

  • HEIDELBERGCEMENT AG (Germany)

  • Italcementi Group (Italy)

  • Hanson Cement Ltd. (UK)

  • U.S. Concrete (U.S.)

  • Other key players


A Noteworthy Industry Development-



  • August 2018: Metro Mix, LLC, a reputed provider of ready-mix concrete based in Denver was acquired by LafargeHolcim. This would help the latter in strengthening its position in the U.S. According to the officials of LafargeHolcim, this is the fourth acquisition of 2018 that is a part of the company’s Strategy 2022 - 'Building for Growth'. The acquired enterprise would help LafargeHolcim in generating high share in the near future with immediate operational and commercial synergies.


Further Report Findings-



  • In 2019, North America procured USD 164.4 billion revenue. This growth is attributable to the high demand for residential sectors in the region. Also, the presence of favorable governmental rules and regulations regarding the construction schemes and policies would propel the market growth in this region.

  • Asia Pacific is expected to possess the largest market in the coming years owing to the major contributions of the developing countries, such as India, South Korea, and China. China is considered to be the biggest producer of this type of concrete stoked by the increasing demand from the populaces and the availability of raw material.

  • Based on application, the infrastructure segment held 28.70% ready-mix concrete market share in 2019. This growth is attributable to the rapid urbanization. It is further resulting in the construction of highways, roads, water systems, and others.


The global market can be segmented in the following way:





































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion) and Volume (Million Tons)



Segmentation



By Application



  • Residential

  • Commercial

  • Infrastructure

  • Others



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, France, UK, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)

  • Middle East & Africa (South Africa, Saudi Arabia, UAE, Egypt, and Rest of Middle East & Africa)


Global Ready-mix Concrete Market
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  • 2019
  • 2016-2018
  • 80

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