Ready-Mix Concrete Market to Grow by USD 210.44 Billion (2024-2028), Growing Construction Market Boosting Growth, Report on AI's Impact on Market Trends - Technavio

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global ready-mix concrete market size is estimated to grow by USD 210.44 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.17%  during the forecast period. Growing construction market is driving market growth, with a trend towards rapid urbanization and rising disposable income. However, presence of stringent regulations related to raw materials of concrete  poses a challenge. Key market players include ACC Ltd., Aditya Birla Management Corp. Pvt. Ltd., Aparna Enterprises Ltd., CEMEX SAB de CV, Concrete India RMC, EUROCEMENT Group, Heidelberg Materials AG, Holcim Ltd., JK Lakshmi Cement Ltd., JSW STEEL Ltd., Sai RMC India, Skyway RMC Plants Pvt. Ltd., The India Cements Ltd., Vicat, Votorantim SA, Godrej and Boyce Manufacturing Co. Ltd., Nuvoco Vistas Corp. Ltd., Prism Johnson Ltd., RDC Concrete India Pvt. Ltd., and The Ramco Cements Ltd..

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Market Driver

The Ready-Mix Concrete (RMC) market is experiencing significant growth due to increasing construction activities in various sectors. Water and additives are key trends in RMC production for enhancing durability and strength. Aggregates, cement, and supplementary materials are essential components of RMC, ensuring high standards and consistent quality. Urbanization and infrastructure development are major drivers, with a focus on commercial and infrastructure projects such as malls, office buildings, hospitals, and roadways. Residential construction, including single family homes, also contributes to the market's growth. Eco-friendly solutions are gaining popularity, with environmentally friendly housing and energy-efficient designs becoming essential. Transit mix, central mix, and shrink mix concrete are popular choices for their economical viability and ease of use. RMC is used extensively in construction of buildings, roads, bridges, dams, and water conservation systems. The industrial sector, including manufacturing facilities, also relies on RMC for its durability and strength. The market is expected to continue growing, with a focus on sustainability, durability, and cost-effectiveness. 

The economic advancements in countries like India, Vietnam, Malaysia, China, and Qatar have brought about significant urbanization and an increase in disposable income for consumers. This rise in income levels has boosted purchasing power, leading to increased spending on residential and non-residential infrastructure projects. According to The World Bank Group, China's per capita income rose from USD12,617 in 2021 to USD12,720.2 in 2022, while India's per capita income grew from USD2238.1 to USD2388.6 during the same period. This enhanced purchasing power will positively impact the global construction industry and contribute to the growth of the ready-mix concrete market during the forecast period. 

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• The Ready-Mix Concrete (RMC) market faces several challenges in various sectors. In construction, ensuring water quality and durability are key concerns. Additives and supplementary materials are essential to enhance concrete's strength and sustainability. Aggregate sourcing and cement prices impact cost-effectiveness. For commercial and infrastructure projects, including malls, office buildings, hospitals, and transportation infrastructure, economically viable and environmentally friendly solutions are crucial. Transit mix concrete, central mix concrete, and shrink mix concrete each offer unique benefits, like in-transit mixing for longer travel distances. In the residential segment, single family homes, residential complexes, and environmentally friendly housing projects require high standards and consistent quality. Urbanisation and housing growth create significant demand, especially in areas with water scarcity, where water conservation systems and energy-efficient designs are essential. Road building projects, such as dams, bridges, and highways, require concrete mixtures for long-term durability. The hotel industry also seeks reliable and sustainable concrete solutions for new constructions and renovations. Overall, the RMC market must address these challenges to meet the diverse needs of various sectors, ensuring consistent quality, cost-effectiveness, and sustainability.
• The ready-mix concrete market faces significant challenges due to regulatory hurdles surrounding cement production. Cement, a primary raw material for ready-mix concrete, is an essential binding agent in construction. The cement industry is energy-consumptive and contributes significantly to pollution. Cement particles, under 5 micrometers in diameter, pose health concerns when inhaled by nearby residents. Strict regulations govern cement manufacturing and usage to mitigate these issues. Ensuring compliance with these regulations is crucial for market growth.

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This ready-mix concrete market report extensively covers market segmentation by  

1. Type 
• 1.1 Transit mix concrete
• 1.2 Central mix
• 1.3 shrink mix concrete
2. Application 
• 2.1 Non-residential
• 2.2 Residential
3. Geography 
• 3.1 APAC
• 3.2 Middle East and Africa
• 3.3 Europe
• 3.4 North America
• 3.5 South America

1.1 Transit mix concrete-  Transit mix concrete, also known as truck mix concrete or dry-batched concrete, is a type of ready-mix concrete that is mixed in trucks instead of at a centralized plant. In this process, cement, aggregate, water, and additives are loaded into the truck's compartments, and the rotating drum of the truck mixer ensures that the mixture remains uniform during transportation. This results in better control over the concrete mix, minimizing segregation, maintaining desired workability, and eliminating the need for onsite mixing, saving time and labor. The global ready-mix concrete market is expected to grow due to the advantages offered by transit mix concrete, including consistent quality and strength, improved workability, and increased efficiency.

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The Ready-Mix Concrete (RMC) market is a significant segment of the construction industry, providing concrete solutions for various infrastructure and building projects. RMC is made using water, cement, aggregates, and often supplementary materials like additives, enhancing its durability and strength. The market caters to diverse sectors, including construction of homes, factories, and commercial structures such as hotels, malls, and office buildings. Transit mix and central mix are two popular RMC production methods, with transit mix ensuring the concrete is mixed in transit to the construction site, while central mix is produced at a plant and transported to the site in a readymix truck. Shrink mix, designed to reduce shrinkage, is another variant. RMC is essential for large-scale projects like airport expansions, dams, and water conservation systems. It also plays a crucial role in green building initiatives and energy-efficient designs, contributing to environment-friendly housing and sustainable infrastructure. The RMC market continues to evolve, catering to the growing demand for high-performance, eco-friendly, and cost-effective concrete solutions.

The Ready-Mix Concrete (RMC) market is a significant player in the construction industry, providing essential building materials for various sectors. RMC is made of essential components such as water, cement, aggregates, and additives, which contribute to its durability and strength. This versatile material is used extensively in construction projects, including homes, factories, roadways, urbanisation, and infrastructure. RMC's applications span across commercial and industrial sectors, such as malls, office buildings, hotels, restaurants, institutional buildings, hospitals, medical centres, department stores, and manufacturing facilities. In the residential segment, RMC is used for constructing single family homes, residential complexes, and environmentally friendly housing. RMC's benefits include energy efficiency, economical viability, and the ability to produce different types, such as transit mix, central mix, shrink mix, and in-transit mixer concrete. RMC's use extends to various infrastructure projects, including road building, dams, water conservation systems, airport expansion, and bridge construction. RMC's production process involves the use of supplementary materials to enhance its properties, ensuring high standards and consistent quality in the concrete mixture. Green building initiatives and energy-efficient designs are also driving the demand for RMC in the construction industry.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Transit Mix Concrete
• Central Mix
• Shrink Mix Concrete
• Application
• Non-residential
• Residential
• Geography
• APAC
• Middle East And Africa
• Europe
• North America
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio