Ready-mixConcrete: Introduction
· Ready-mix concrete is a type of concrete, which is a mixture ofportland cement, water, sand, and coarse aggregates. It is eco-friendlycompared to site mix concrete, as mixing is done in closed chambers. Thisreduces noise and air pollution. Ready-mix concrete is manufactured in a cementfactory or within a batching plant based on specification required. This typeof concrete is widely in for construction due its high durability andsustainability as compared to normal concrete.
Key Drivers and Restraints of Global Ready-mix Concrete Market
· The ready-mixconcrete market has developed significantly in the recent years. Thiscan be primarily ascribed to the high performance and increasing availabilityof advanced construction materials globally. Rise in number of infrastructureprojects, including bridges, roads, dams, and airport expansion works,especially in developing countries, is fueling the demand for ready-mixconcrete. Thus, the global ready-mix concrete market is expected to expandsignificantly in the next few years. High government spending on construction,manufacturing, and power plants; rise in population, and trend of urbanizationare also boosting the market.
· Various initiatives by governments regarding the development ofsmart cities are likely to drive the global ready-mix concrete market. Demandfor wastage reduction and low inventory costs is leading to a decrease inoverall project expenditure. This is anticipated to boost the demand forready-mix concrete. Ready-mix concrete is extensively used today, owing to theease of use, high quality, better convenience, and better economy.
· The handling of concrete from the mixer to various points ofwork is one of the key challenges faced by players operating in the globalready-mix concrete market. High initial investments for setting upmanufacturing plants for ready-mix concrete are also estimated to restrain themarket. On the other hand, introduction of new infrastructure construction projectsis expected to drive the demand for ready-mix concrete in the near future.
Ready-mix Concrete: Type Segment
· In terms of type, the global ready-mix concrete market can besegmented into transit mix concrete, central mix concrete, and shrink mix concrete
· The transit mix concrete segment is expected to account forsignificant share of the global ready-mix concrete market during the forecastperiod. It is anticipated to be followed by the central mix concrete segment.
· The shrink mix concrete segment is likely to expand at a rapidpace during the forecast period, due to the expansion of the constructionindustry around the globe
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Ready-mix Concrete: Application Segment
· In terms of application, the global ready-mix concrete marketcan be segmented into commercial building, industrial utilities, residentialbuildings, and others
· The commercial building segment is estimated to expand at arapid pace during the forecast period. It is projected to be followed by theindustrial utilities segment.
· The residential building segment is likely to expand at ahealthy CAGR during the forecast period, owing to the increase in populationand urbanization across the globe
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COVID-19 Impact on Ready-mix Concrete Market
· On January 30, 2020, the International Health RegulationsEmergency Committee of the World Health Organization (WHO) declared theCoronavirus disease (COVID-19) outbreak a public health emergency ofinternational concern. Originating in China, the virus has spread to at least 213countries and territories around the world.
· Several governments and private sector businesses are operatingat a limited capacity or have ceased operations completely due to recent eventssurrounding the COVID-19 pandemic
· Manufacture of various consumer goods and other products acrossthe globe has come to a halt due to the unavailability of raw materials,shortage of labor, etc. This is expected to hamper the ready-mix concretemarket.
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Asia Pacific to Dominate Ready-mix Concrete Market
· In terms of region, the global ready-mix concrete market can bedivided into North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa
· North America dominated the ready-mix concrete market in 2020.The ready-mix concrete market in Asia Pacific is anticipated to expand at arapid pace. The region is expected to dominate the market during the forecastperiod owing to the increase in new infrastructure projects in India,Singapore, China, and Thailand. Rapid industrialization and urbanization arealso factors driving the market in Asia Pacific.
Key Manufacturers Operating in Global Ready-mix Concrete Market
The globalready-mix concrete market was consolidated in 2020. Major players haveprominent presence in developed and developing countries. Key manufacturersoperating in the global ready-mix concrete market include:
· Barney & Dickenson, Inc.
· ACC Ltd.
· Lafarge, Vicat S.A.
· Buzzi Unicem S.p.A.
· R.W. Sidley, Inc
· Italcementi Group
· CEMEX S.A.B. de C.V.
· Holcim Ltd.
· UltraTech Cement
· Dillon Bros Ready Mix Concrete
· Livingston's Concrete Service, Inc.
· HeidelbergCement
· Hanson Cement Ltd.
· U.S. Concrete, Inc.
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