Global Ready-Mix Concrete Market to Reach $865.9 Billion by 2026

Ready-mix concrete (RMC) is defined as a ready to use material that contains predetermined combination of aggregates, sand, water, and cement. Growth in the global market is led by high demand for such concrete, especially in urban areas. Recovering construction activity in developed economies and strong growth opportunities for residential and infrastructure construction projects in developing nations is expected to boost demand for construction materials in the future years. Other factors affecting the ready-mix concrete industry include environmental concerns; changes in lending standards and interest rates; and regional laws related to heavy transportation. In addition, regulatory mandates are spurring companies to invest in sustainable and advanced construction technologies, resulting in the development of new types of construction materials. For instance, new production technologies are enabling ready-mix concrete suppliers to continuously produce concrete volumes of more than 100 cubic meters per hour.

Amid the COVID-19 crisis, the global market for Ready-Mix Concrete estimated at US$575.4 Billion in the year 2020, is projected to reach a revised size of US$865.9 Billion by 2026, growing at a CAGR of 7.2% over the analysis period. Transit Mix, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$514.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Central Mix segment is readjusted to a revised 8.2% CAGR for the next 7-year period. Transit mixed concrete is the most commonly used type of ready-mix concrete. The transit-mixed concrete prevents issues associated with slump loss or early hardening of the concrete. Major advantage of central mixing is faster batching and minimal wear of the truck mixer drums.

The U.S. Market is Estimated at $74.5 Billion in 2021, While China is Forecast to Reach $336.6 Billion by 2026

The Ready-Mix Concrete market in the U.S. is estimated at US$74.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$336.6 Billion by the year 2026 trailing a CAGR of 8.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Developing economies are expected to lead growth in the global market led by improving construction activity, continuous industrialization in regional powerhouses such as China and India, increasing income levels, higher spending power, improving standards of living, and resulting higher demand for residential and commercial constructions. The developed markets show an increasing penchant for ready-mix concrete as compared to traditional site mixing.

Shrink Mix Segment to Reach $121.6 Billion by 2026

Shrink-mixed concrete refers to the type of ready-mix concrete prepared at the manufacturing units. The components are added to the batching plants, and the volumes are adjusted as per the strength requirements of the concrete. The concrete is then shifted through concrete pumps. In the global Shrink Mix segment, USA, Canada, Japan, China and Europe will drive the 7.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$52.6 Billion in the year 2020 will reach a projected size of US$87.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$23.2 Billion by the year 2026, while Latin America will expand at a 7.7% CAGR through the analysis period.