Ready-mix concrete is a mixture of cement, water, aggregates, and supplementary materials in defined proportions. All the ingredients are mixed in proportion on the basis of standard codes to get the required strength and durability.
The global ready-mix concrete market stands at US$ 46.9 Billion as of now and is expected to reach US$ 61.7 Billion by the year 2032 at a stellar CAGR of 13.2% between 2022 and 2032.The developing economies are subject to rising urbanization, which is, in turn, asking for constructive expansion of the building & construction vertical.
The United Nations 2030 estimates say that urban population all across India would grow by an astonishing 165 Million by the year 2030. Also, FMI Global Housing Watch states that residential real estate all across did generate almost US$ 221.6 Billion in the year 2019, thereby witnessing a Y-o-Y rate of 12%.
Overall, multi-billion-dollar infrastructure schemes are turning out to be the norm as governments are striving to keep up with the growth, raising standards of living, and facilitating financial development.
The projects like Asia – Belt and Road Initiative in China, Sydney Metro in Australia, Africa – Lagos-Kano Railway in Nigeria, South America – 4G Roads and Highway Program in Columbia, and North America – California High-Speed Rail in the US could be referred to as mega infrastructural projects that could direct the ready-mix concrete market towards exponential growth in the upcoming period.
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At the same time, the fact that initial investments pertaining to ready-mix concrete plants are high cannot be ignored. This could be credited to marked difference in prices of land and raw materials’ availability. Plus, effective transportation is needed to the site, which adds to the overheads.
As such, those handling small projects may have to give a second thought in this regard. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Ready-Mix Concrete Market’.
Key Takeaways from Ready-Mix Concrete Market
“Delivery of ready-mix concrete via transit mixer does facilitate implementing accurate concrete in building and construction, thereby rendering it strong and long-lasting. This factor is expected to keep the cash registers ringing for ready-mix concrete market in the near future”, says an analyst from Future Market Insights.
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Competitive Landscape
Key Segments Profiled in the Ready-mix Concrete Industry Survey
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What encompasses the Ready-Mix Concrete Market?
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Mar 12, 2023