The global market of ready-mix concrete (RMC) was estimated at around USD 735 billion in 2020. According to Fortune Business Insights, the market has seen a decline of 1.9% in 2020. The ready-mix concrete market is expected to grow to USD 1,374.2 billion at a compound annual growth rate (CAGR) of 8.2% between 2021 to 2028. The instant rise in CAGR is due to the market’s demand and growth, returning to the pre-pandemic levels. However, the concrete-mix industry has seen negative global demand amidst the COVID-19 pandemic.
Ready-mix concrete is a material widely used in the construction industry; It contains cement, fine aggregates, and coarse aggregates mixed with water. Moreover, additives and admixtures are added to enhance the properties of the wet concrete mix.
Latest Trends
RMC manufacturers are making significant efforts to reduce greenhouse gas emissions by extending the ratio of additives such as fly ash. Such measurements are taken to mitigate ordinary Portland cement consumption and improve the fuel efficiency of the mixing process; It has also led to demand for eco-friendly ready-mix concrete.
Nowadays, the construction industry uses energy-efficient methods to create positive impacts on the environment, resulting in manufacturers producing green ready-mix concrete. The construction industry plans the design of buildings considering water use, materials used, etc., to follow environment-friendly practices. Non-renewable energy has also become more expensive, inspiring construction industries to adopt eco-friendly construction.
Market Growth
The rise in the construction industry is supporting market growth. Hence, the income of people worldwide is also increasing, and it accelerates the construction of housing buildings that consume concrete. This economic growth is shifting towards more and more use of ready-mix concrete as it is a quick solution to construction needs. Asian nations are the key players in this market growth due to their rise in population.
Additionally, the increased industrialisation of western countries also supports the growth of the RMC market. Urbanisation demands the development of infrastructure facilities, which remains the primary factor for the growth of the ready-mix concrete market.
High Investments
Along with the private sector, the government is also interested in investing in the construction sector. Primarily, there are high-end investments in developing countries, resulting in the construction of public facilities such as bridges, railroads, highways, gardens, or commercial buildings. All these lead to the high demand for ready-mix concrete.
Coupled with these, labourers are getting superior quality personal protective equipment and health benefits; it has positively impacted the construction industry, leading to sky-high growth.
Obstructing Factors
COVID 19 has affected the construction industry negatively. Many construction sites have been shut down due to the lockdown across the world. The companies that managed to remain open faced disruptions in the supply chain. China, the primary producer of concrete, was banned from exporting concrete. Hence, other countries had suppliers at a high cost, which affected the construction market.
Regional Forecast
Due to the population growth, the largest ready-mix concrete market is in Asia Pacific, and it is expected to show growth in developing countries such as India or South Korea. It demands the construction of new manufacturing plants in developing nations, and it could drive market growth.
Europe may foresee moderate growth during 2021-2028, associated with the high demand for residential buildings and growing industrialisation. The government infrastructure projects are also in favour of concrete-mix industry growth.
There will be a rise in demand for residential and commercial sectors in North America. The need for a single housing unit is the key driving factor, and the government regulations for construction policies are boosting the market significantly in this region.
Countries of The Middle East, Africa and Latin America are in the critical stage of growing infrastructure, which in turn supports the growth of the ready-mix concrete industry. Moreover, raw materials are readily available in these regions; it might become a critical factor in the market growth.
Cost-effective Solution
The use of ready-mix concrete has reduced electricity consumption at the job site. In the concrete mix, the proportion of all ingredients is perfectly maintained, so there is a less chance of wastage. Also, the use of manual labourers has decreased on-site. Concrete mix is delivered to your site in the ready-to-use state, saving you money for on-site maintenance and storage.
Conclusion
The recent market of ready-mix concrete has become a significant factor for the construction project, irrespective of the size of the project. Clients in the construction sector require affordable and diverse concrete in terms of its design and structure, and RMS Concrete is the best choice for these needs.
We take pride in supplying all grades of concrete for domestic and commercial purposes. Equipped with modern-day vehicles and technology, we deliver concrete-mix on time. Our specialists are BSI 9001 certified and regard the safety of everyone involved as the primary aspect. Call us on +44 808 274 0949 or visit us online to learn more about our services.