In this report, the authors have provided insightful analysis of the market along with accurate facts and figures. During the forecast period 2016-2022, the market is anticipated to rise at a 5.92% CAGR. By the end of 2025, it could touch a US$ 624.82 Bn valuation, improving from a US$ 394.44 Bn obtained in 2017.
In 2013, the production value of the global RMC market reached a US$ 315.98 Bn. However, it increased to a US$ 415.97 Bn in 2018.
Global Ready-mix Concrete (RMC) Market: Drivers and Restraints
Emerging economies increasing their expenditure on infrastructure development and other construction activities are envisioned to create lucrative prospects in the global RMC market. Furthermore, the rising trend of urbanization could catapult the market to expect high growth opportunities in the near future.
The advent of smart cities and adoption of smart solutions supported by government initiatives are foretold to propel the demand in the global RMC market. Increase in global population growth and thereby the need for more residential and commercial facilities could augment the development of the market.
Since RMC offers better quality, greater convenience, and ease of use, it is preferred over conventional concrete. Moreover, the demand for RMC could increase on the back of the benefit of low project expenditure.
However, the expensive cost of setting up manufacturing and production facilities is expected to challenge players operating in the global RMC market.
Global Ready-mix Concrete (RMC) Market: Forecast by Type and Application
On the basis of type, the global RMC market is categorized into central mixed concrete, shrink mixed concrete, and transit mixed concrete. Among these, central mixed concrete has gained a whole lot of significance in the market. In 2017, it collected a market share of close to 39.42% in terms of production.
By application, the global RMC market is divided into industrial use, infrastructure use, commercial use, and residential use. Among these applications, residential use secured a major market share of 33.47% in 2017. In the same year, infrastructure use and commercial use collected shares of 28.62% and 22.80% respectively.
Global Ready-mix Concrete (RMC) Market: Forecast by Region
Geographically, China achieved the largest production share of the global RMC market in 2017, i.e. approximately 33.69%. There could be strong growth opportunities available in key regions and countries due to the impressive sales of RMC. Developing countries are expected to become prominent RMC markets in the coming years.
The report classifies the global RMC market into Southeast Asia, Latin America, India, China, Europe, North America, and other geographies.
Global Ready-mix Concrete (RMC) Market: Key Players
The global RMC market is envisaged to witness the entry of more number of players during the forecast period. It includes leading manufacturers such as CRH Plc, China National Building Material Company Limited, HeidelbergCement, Cemex, and LafargeHolcim.
Players are looking to cash in on the relatively steady growth of the global RMC market.
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