1 Global Ready Mix Concrete Market Insight Analysis
The global Ready Mix Concrete market is valued at USD 298.75 billion in 2024, with a CAGR of 4.82% from 2024 to 2033.
Ready Mix Concrete refers to cement, aggregates, water and admixtures, mineral admixtures and other components mixed according to needs in a certain proportion, which are sold at a mixing station after being measured and mixed, and transported by transport vehicles. The concrete mixture delivered to the place of use within time.
Figure Global Ready Mix Concrete Market Size (B USD) and CAGR (2024-2033)
2 Ready Mix Concrete Market Growth Drivers and Restraints
The demand for housing in the United States is strong. Since the 2010s, the housing market has been in short supply, and the number of new homes built has halved from the previous decade. As of the end of 2020, the gap in single-family homes reached 3.8 million, an increase of 52% from 2018. The huge housing shortage has stimulated the demand for ready-mixed concrete in the residential construction sector.
The Asia-Pacific region has a strong demand for infrastructure. In the past five years, driven by Asia, the value of global infrastructure construction has increased by an average of 3.2% per year, with Northeast Asia and South Asia and Southeast Asia growing at 5.4% and 6.8% respectively. After the epidemic, the governments of the region plan to increase infrastructure investment in areas such as transportation and energy to promote economic growth, which will continue to stimulate the demand for ready-mixed concrete.
Globally, public and private organizations have increased their investment in various construction projects, including commercial buildings, railways, roads, etc. In developing countries such as South Korea, India, China and Mexico, the urbanization process has accelerated, and the demand for ready-mixed concrete has surged. In addition, the global construction industry has continued to expand with the support of lower labor costs and a large number of equipment and tools, further promoting the development of the ready-mixed concrete market.
The quality of ready-mixed concrete is subject to many factors, such as raw material quality, judgment time lag, product design, and sales process control. After concrete is mixed, its physical and chemical properties will change with the environment and time, making the factors affecting quality more complex and uncertain, which poses a challenge to the stability of product quality and may affect market trust.
As building structures become increasingly complex and diverse, the construction process places higher demands on the workability, pumpability, and formwork filling capabilities of concrete. Ready-mixed concrete needs to have better plasticity and adaptability to meet the needs of different construction scenarios. This is a major test for the company’s production technology and R&D capabilities, increasing the company’s production costs and technical difficulties.
3 Technological Innovations in the Ready Mix Concrete Market
Many companies actively invest in technology research and development to promote product upgrades. For example, based on its in-depth understanding of concrete technology and applications, Cemex has developed a “concrete design” service to change the properties of concrete through innovative chemical mixtures to meet different construction needs, such as designing smoother, corrosion-resistant concrete that can quickly increase strength and maintain workability. It also launched special concrete products such as ultra-fast hardening, crack resistance, self-compacting, and permeable.
LafargeHolcim uses advanced R&D facilities to develop innovative ready-mixed concrete and precast concrete solutions to help construction and infrastructure construction participants meet challenges such as carbon dioxide emission reduction, energy saving, cost control, construction speed and aesthetics. The Building Materials Technology Group under Shanghai Construction Engineering focuses on ready-mixed concrete technology innovation, develops a series of green and environmentally friendly special high-quality concrete, and applies it to actual projects.
Corporate mergers and acquisitions and restructuring activities are frequent, aiming to optimize resource allocation, expand market share and enhance competitiveness. In July 2021, Switzerland’s Holcim acquired Germany’s Heinrich Teufel, strengthening its market position in aggregates and ready-mixed concrete in southern Germany and promoting the development of the circular economy. In June of the same year, Vulcan Materials acquired U.S. Concrete for $1.294 billion. U.S. Concrete’s business in California, Texas and other places complements Vulcan’s existing business and expands its service capabilities.
In February 2021, CEMEX acquired a ready-mixed concrete company in San Antonio, USA, expanding its business network in Texas. In December 2020, Knife River Corporation acquired McMurry Ready-Mix Co., expanding its business in Wyoming and acquiring nearly 1 million tons of aggregate reserves. These mergers and acquisitions have integrated industry resources, promoted the scale expansion and market layout optimization of enterprises, promoted the centralized development of the industry, and intensified market competition, prompting enterprises to continuously improve their own strength to gain an advantage in the market.
4 Global Ready Mix Concrete Market Size by Type
In 2024, the consumption of Transit Mixed Concrete is projected to reach approximately 1,963.2 million cubic meters. This type of concrete is highly valued for its flexibility and ability to be mixed in transit, ensuring that the concrete arrives at the construction site in optimal condition. This method avoids premature hardening and slump loss, making it ideal for projects with varying transportation times.
Transit Mixed Concrete holds the largest market share, accounting for about 46.68% of the total ready-mixed concrete consumption in 2024. Its popularity is driven by its versatility and suitability for residential, commercial, and infrastructure projects. The ability to mix the concrete en route ensures that it remains workable and fresh, which is crucial for large-scale construction sites.
The consumption of Shrink Mixed Concrete in 2024 is expected to be around 692.7 million cubic meters. This type of concrete is partially mixed at a central plant and then completed in the truck mixer. It offers a balance between centralized mixing and on-site flexibility, making it suitable for projects that require specific mixing conditions.
Shrink Mixed Concrete holds a market share of approximately 16.47% in 2024. Its market share is smaller than that of Transit Mixed Concrete due to its specialized nature. However, it remains a significant segment, particularly for projects that require a high degree of control over the mixing process. The ability to adjust the mixing parameters in the truck provides added flexibility, which is beneficial for certain types of construction projects.
Central Mixed Concrete is expected to have a consumption of about 1,549.8 million cubic meters in 2024. This type of concrete is mixed entirely at a central plant and then transported to the construction site. It is known for its consistency and quality, making it ideal for projects that require precise specifications.
Central Mixed Concrete accounts for approximately 36.85% of the total ready-mixed concrete consumption in 2024. Its market share is significant, reflecting its importance in the construction industry. The centralized mixing process ensures uniformity and quality, which are critical factors for large-scale projects. Central Mixed Concrete is particularly popular for infrastructure and industrial projects where consistency and reliability are paramount.
Table Global Ready Mix Concrete Market Size and Share by Type in 2024
Type | Consumption (Million Cubic Meters) 2024 | Market Share 2024 |
|---|---|---|
Transit Mixed Concrete | 1963.2 | 46.68% |
Shrink Mixed Concrete | 692.7 | 16.47% |
Central Mixed Concrete | 1549.8 | 36.85% |
5 Global Ready Mix Concrete Market Size by Application
The residential application is a major consumer of ready – mix concrete. In 2024, it is projected to consume 1471.7 million cubic meters, accounting for approximately 34.99% of the total global consumption. This high demand in the residential sector can be attributed to several factors. Firstly, the continuous growth of the global population, especially in developing countries, has led to an increasing need for housing.
For instance, in countries like India and China, rapid urbanization has spurred a boom in residential construction. New housing complexes, apartments, and individual homes are being built at a large scale, all of which rely heavily on ready – mix concrete for their construction. The stability and durability provided by ready – mix concrete make it an ideal choice for residential buildings, ensuring the safety and comfort of residents.
The commercial application of ready – mix concrete is also substantial. In 2024, it is estimated to consume 1164.3 million cubic meters, with a market share of around 27.68%. The construction of commercial buildings such as offices, shopping malls, and hotels drives this demand. As the global economy recovers and business activities expand, there is a growing need for new commercial spaces.
In emerging economies, the rise of new business centers and the expansion of existing ones require a large amount of ready – mix concrete. For example, in Southeast Asian countries, the development of modern business districts with high – rise office buildings and large – scale shopping malls has significantly increased the demand for this construction material.
Infrastructure projects play a crucial role in the ready – mix concrete market. In 2024, they are expected to consume 972.5 million cubic meters, holding a market share of about 23.12%. Infrastructure development is a key focus for governments worldwide. Projects like the construction of roads, bridges, railways, and airports are essential for economic growth and social development.
In the Asia – Pacific region, countries are investing heavily in infrastructure to enhance connectivity and improve living standards. The Belt and Road Initiative, for example, has led to numerous large – scale infrastructure projects that require massive quantities of ready – mix concrete. These infrastructure projects not only contribute to economic development but also improve the quality of life for people by providing better transportation and communication facilities.
The industrial application of ready – mix concrete accounts for a relatively smaller but still significant portion of the market. In 2024, it is forecasted to consume 597.1 million cubic meters, with a market share of approximately 14.20%. The construction of industrial facilities such as factories, warehouses, and power plants drives the demand for ready – mix concrete in this sector.
As industrial activities expand globally, new manufacturing plants are being established, especially in emerging industrial regions. For example, in some parts of Africa and South America, the growth of the manufacturing industry has led to an increased need for industrial construction, which in turn boosts the consumption of ready – mix concrete. Industrial buildings require durable and high – performance construction materials to withstand the specific demands of industrial operations, and ready – mix concrete meets these requirements effectively.
Table Global Ready Mix Concrete Market Size and Share by Application in 2024
Application | Consumption (Million Cubic Meters) 2024 | Market Share 2024 |
|---|---|---|
Residential | 1471.7 | 34.99% |
Commercial | 1164.3 | 27.68% |
Infrastructure | 972.5 | 23.12% |
Industrial | 597.1 | 14.20% |
6 Global Ready Mix Concrete Market Size by Region
The Asia – Pacific (APAC) region remains the largest market in terms of value, with an estimated market value of 167.93 billion USD, accounting for about 56.21% of the global market. APAC has been a dominant force in the ready – mix concrete market. In countries like China, the continuous urbanization process and large – scale infrastructure projects have led to a huge demand for ready – mix concrete.
China’s construction industry is one of the largest in the world, and the government’s investment in infrastructure, such as high – speed railways and urban subway systems, has been a major driver. Japan and South Korea also have a stable demand for ready – mix concrete in both infrastructure and residential construction. Additionally, emerging economies in Southeast Asia, like Vietnam and the Philippines, are experiencing rapid economic growth, which is fueling the construction industry and the demand for ready – mix concrete.
The Americas region is expected to have a market value of 73.17 billion USD in 2024, with a market share of around 24.49%. The United States is a major contributor in this region. The strong housing demand in the US, as there is a shortage of single – family homes, drives the residential construction sector and thus the consumption of ready – mix concrete. In addition, infrastructure projects in the US, although facing some challenges, still contribute to the market demand.
Canada and Brazil also have significant construction activities. Canada’s construction industry is stable, with both residential and commercial construction projects requiring ready – mix concrete. Brazil, with its large – scale infrastructure plans and growing urbanization, is also an important market in the Americas.
Europe is projected to have a market value of 42.91 billion USD, holding a market share of about 14.36%. In Europe, countries like Germany, France, and the UK have a well – developed construction industry. Germany has a strong focus on infrastructure maintenance and renewal, which keeps the demand for ready – mix concrete steady. France and the UK also have significant construction activities in both the residential and commercial sectors. However, the European market has been somewhat affected by economic fluctuations in recent years, which has influenced the growth rate of the ready – mix concrete market.
The Middle East & Africa region is estimated to have a market value of 14.75 billion USD in 2024, with a market share of around 4.94%. In the Middle East, countries in the GCC (Gulf Cooperation Council) have been investing in large – scale infrastructure projects, especially in the construction of modern cities and energy – related facilities. For example, Dubai’s continuous construction of iconic buildings and infrastructure has made it a major consumer of ready – mix concrete.
In Africa, countries like Egypt and South Africa are also seeing an increase in construction activities, mainly in infrastructure and residential projects, as they strive to improve their living standards and economic development. However, the region also faces challenges such as political instability in some areas, which can impact the construction industry and the ready – mix concrete market.
Figure Global Ready Mix Concrete Market Size (B USD) by Region in 2024
7 Global Ready Mix Concrete Market Analysis by Major Players
7.1 China National Building Material Company Limited
Company Introduction and Business Overview:
China National Building Material Company Limited (CNBM) is a state-supported, large-scale cement enterprise group established in 1999. Headquartered in Beijing, CNBM integrates the manufacturing and R&D of cement, commercial concrete, aggregates, cement products, energy conservation, environmental protection, and comprehensive utilization. The company operates numerous plants across China and has a global sales network.
CNBM is a leading player in the Chinese building materials industry, focusing on sustainable development and technological innovation. The company’s diverse product portfolio includes high-quality cement, ready-mixed concrete, and aggregates, catering to various construction needs. CNBM’s commitment to environmental sustainability and advanced R&D capabilities sets it apart in the market.
Products:
CNBM offers a wide range of ready-mixed concrete products, including conventional and special types such as high-strength concrete, self-compacting concrete, fiber concrete, lightweight aggregate concrete, and heavy concrete. These products are designed to meet the specific requirements of residential, commercial, and infrastructure projects.
Market Performance in 2021:
In 2021, CNBM reported sales of 119.2 million cubic meters of ready-mixed concrete, with a total value of 8.139 billion USD.
7.2 HeidelbergCement
Company Introduction and Business Overview:
HeidelbergCement, founded in 1874, is one of the world’s largest manufacturers of building materials. The company is headquartered in Heidelberg, Germany, and operates plants primarily in Germany and other European countries. HeidelbergCement has a global sales network, providing a wide range of building materials and solutions.
HeidelbergCement is a global leader in the building materials sector, offering cement, aggregates, ready-mixed concrete, and asphalt. The company is committed to sustainable practices and innovation, focusing on reducing CO2 emissions and improving energy efficiency. HeidelbergCement’s extensive product portfolio and global presence make it a key player in the industry.
Products:
HeidelbergCement provides a variety of ready-mixed concrete products tailored to meet the specific needs of different construction projects. These products include high-performance concrete, eco-friendly concrete, and specialized mixes for residential, commercial, and infrastructure applications.
Market Performance in 2021:
In 2021, HeidelbergCement reported sales of 49.3 million cubic meters of ready-mixed concrete, with a total value of 5.314 billion USD.
7.3 LafargeHolcim
Company Introduction and Business Overview:
LafargeHolcim, established in 2015 through the merger of Lafarge and Holcim, is a global leader in building materials and solutions. The company operates primarily in the United States and Europe, with a global sales network. LafargeHolcim is headquartered in Zug, Switzerland, and is known for its commitment to innovation and sustainability.
LafargeHolcim is active in four main business areas: cement, aggregates, ready-mixed concrete, and solutions and products. The company focuses on developing innovative building materials and solutions that address key challenges such as reducing CO2 emissions, improving energy efficiency, and enhancing construction speed and site productivity. LafargeHolcim’s global presence and commitment to sustainability make it a leading player in the industry.
Products:
LafargeHolcim offers a wide range of ready-mixed concrete products, including high-performance concrete, self-compacting concrete, and eco-friendly concrete. These products are designed to meet the specific requirements of residential, commercial, and infrastructure projects, providing solutions that enhance durability, strength, and sustainability.
Market Performance in 2021:
In 2021, LafargeHolcim reported sales of 44.1 million cubic meters of ready-mixed concrete, with a total value of 4.884 billion USD.