The global market for Ready-Mix Concrete is projected to reach 6.4 billion cubic meters by 2024, driven by the growing size and complexity of construction projects, critical time schedules for project completion, emphasis on quality, tight and competitive project budgets and the resulting need for efficient ways for project execution.
Ready-mix concrete (RMC), a ready to use material that contains predetermined combination of aggregates, sand, water and cement, represents one of the key building materials for residential, commercial and infrastructure projects. Ready-mix concrete is mainly useful for buildings that are situated in congested locations that provide little space for storing aggregates and mixer siting. Key benefits of RMC driving adoption worldwide include reduced labor and supervising costs, reduced consumption of cement by eliminating wastages associated with bulk handling, consistency in quality as mixture ratio of sand aggregates and water are subject to computerized control, and reduced environmental pollution, among others. The market is more prominent in developed regions including the United States, and most of the Western European regions such as France, Germany, Italy, the UK, and Spain. Improving economic growth as mirrored by the steady rise in global GDP, recovery in consumer confidence and resurgent construction activity across the world continues to drive the demand for RMC, worldwide.
Demand for innovative ready mix concreter materials such as self-compacting concrete (SCC) and ultra-high strength concrete is expected to drive further growth in the RMC market. The market is also expected to benefit from strong demand for architectural mixes that enable creation of architectural frameworks with enhanced aesthetic appearance and fibre reinforced ready-mix concretes. Increase in number of high-rise building projects in both developed and developing countries is expected to augment the demand for high performance concrete with good flowability characteristics.
Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 9.3% through the analysis period. Few of the factors driving growth in the region include massive growth in the infrastructure sector supported by favorable economic development policies; stringent standards for quality, durability and service life of structures; growing competitive bidding of construction projects and the resulting emphasis on project cost optimization; and developments in ready-mix concrete supply chain that help ensure timely delivery of cement. In the Middle East, countries such as Qatar and Dubai continue to push numerous multi-billion infrastructure development projects, undeterred by the weakness in oil prices.
Major players in the market include ACC Limited, Barney & Dickenson Inc., Buzzi Unicem SpA, CEMEX S.A.B. DE C.V., CRH plc, Dillon Bros Ready Mix Concrete LLC, HeidelbergCement AG, Hanson UK, LafargeHolcim Ltd., Livingston's Concrete Service Inc., Martin Marietta Materials Inc., Prism Cement Limited, R.W. Sidley Inc., U.S. Concrete Inc., UltraTech Cement Ltd., Vicat SA and Vulcan Materials Company, among others.