Ready-Mix Concrete Market Poised for Substantial Growth

Over the coming years, the global ready-mix concrete market is expected to show a positive outlook, owing to the rising demand from infrastructure as well as residential projects across various geographies. On the basis of concrete type, the standard concrete segment is expected to account for a prominent share throughout the forecast years, supported by its usage in various applications in sectors such as residential, commercial, infrastructure, etc. Globally, the ready-mix concrete market was valued at US$ 59.8 Bn at the end of 2018. East Asia is expected to account for a lion’s share in the global ready-mix concrete market throughout the forecast years, owing to the rising demand from China. Global Ready-Mix Concrete Market: Dynamics The construction materials market, primarily ready-mix concrete, has witnessed substantial incremental growth over the recent years. This can be primarily attributed to the economic conditions in numerous countries. The construction industry across emerging economies is anticipated to witness acceleration in various large-scale infrastructural programs, which, in turn, is expected to create public-private partnership opportunities. Thus, increasing governmental spending as well as favorable economic conditions are expected to assist the global ready-mix concrete market over the coming years However, the global ready-mix concrete market faces various challenges such as the on-time delivery of ready-mix concrete at construction sites. The uninterrupted and timely delivery of ready-mix concrete at construction sites is of utmost importance for effective construction operations. Due to the small time window available for the transportation of concrete material, delivering this material in the shortest time is imperative. The utilization of environmental-friendly (green) products for the manufacturing of ready-mix concrete is found to be one of the key trends in the global ready-mix concrete market. For instance, RMCMA, jointly with the Confederation of Indian Industry and Quality Council of India, developed a green product certification for ready-mix concrete. Global Ready-Mix Concrete Market: Forecast Among the different concrete types, the flowable fill/CLSM segment accounted for a very small share in the market at the end of 2018. However, its demand is expected to witness prominent growth in the global ready-mix concrete market over the forecast years. The flowable fill/CLSM concrete type is comparatively an economic alternative to compacted granular fill, which saves labor costs, time, as well as equipment. Considering the regions, developing economies such as India and China are expected to witness substantial growth throughout the forecast years, supported by various governmental initiatives towards development, such as the Bharat Mala Pariyojna, Sagarmala Project, Shanghai urban rail transit expansion, intercity rail network in Eastern Guangdong, etc. The ready-mix concrete market in North America is expected to witness a below-average growth rate over the forecast years.