growing construction market is driving the Ready-Mix Concrete Market
Technavio analyzes that the Ready-Mix Concrete Market is expected to grow at a CAGR of 5.17% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 210.44 billion.There are various factors that contribute to the growth of the market. The ready-mix concrete market is experiencing significant growth due to the expanding construction industry. With increasing infrastructure development and residential projects, the demand for ready-mix concrete solutions is surging. This trend is expected to continue as construction activities gain momentum, providing a robust foundation for the growth of the ready-mix concrete market. The market's expansion is further fueled by the convenience and efficiency offered by ready-mix concrete solutions, making it a preferred choice for construction projects.
In the construction industry, various types of concrete mixtures cater to diverse project requirements. Transit mix concrete, also known as truck mix concrete or dry-batched concrete, is a popular choice due to its convenience and on-site mixing capabilities. Unlike central mix concrete, which is produced at a centralized plant and transported in ready-mixed form, transit mix concrete is prepared in transit using a truck mixer. The truck's rotating drum ensures that the cement, aggregate, water, and additives remain evenly mixed during transportation. This type of concrete is commonly used for residential building projects, as it allows for greater flexibility in scheduling and enables the concrete to remain workable upon arrival at the construction site. Commercial and infrastructure projects, industrial applications, and volumetric concrete production also benefit from the versatility and efficiency of transit mix concrete. The use of barrel trucks facilitates the transportation and delivery of this concrete mixture, ensuring its continued plasticity throughout the journey.
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Ready-Mix Concrete Market Segmentation
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The Ready-Mix Concrete market encompasses the production and supply of concrete, comprising water, cement, aggregates, and additives, for various construction projects. This includes homes, factories, and commercial structures such as hotels and malls. Durability and strength are key attributes, with supplementary materials enhancing both. Transit mix and central mix methods cater to diverse project requirements. Sustainable initiatives, like eco-friendly housing, airport expansions, and water conservation systems, are driving market growth. Green building initiatives and energy-efficient designs further boost demand. Additionally, the use of shrink mix in transit mixers is essential for large-scale projects like dams and office buildings.
The global ready-mix concrete market is a segment of the expansive construction materials market, which falls under the broader materials market umbrella. This market encompasses businesses engaged in the production and provision of various construction materials, such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and other related products. Key growth drivers for the global construction materials market include the burgeoning building and construction industry, which in turn is fueled by the increasing demand for water, additives, aggregates, cement, and concrete in the construction of homes, factories, and other structures. The importance of durability and strength in construction projects further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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