The concrete market was valued at $617,260.1 million in 2020, and is expected to reach $972,046.3 million by 2030, registering a CAGR of 4.7% from 2021 to 2030. Concrete market includes revenue generated by sales of ready-mix concrete and precast products & elements. Ready-mix concrete is a mixture of cement, sand, water, aggregates, and sometimes binding adhesives. It is manufactured in batches at a central plant instead of mixing it on the job site. It is then transported to job site generally using mobile concrete trucks or trailers. In addition, precast products include paving stones & slabs, bricks, AAC blocks, and other similar products that are generally manufactured in bulk quantity, whereas precast element includes façade, floor, building blocks, pipe, and other similar products. These elements are generally used in construction of large infrastructures such as bridges and water management systems.
Increase in government expenditures for development and reconstruction & repair of infrastructures such as improvement of roads, bridges, and others drives the market growth. In addition, ready-mix concrete and precast products & elements save a lot of manufacturing, transportation, and installation time. These products are also cost effective as wastage while manufacturing these products is less. Furthermore, development in machinery and technology to manufacture these products help to achieve accuracy and overcome lack of skilled labor problem. However, high initial investment is needed to setup a ready-mix plant or a precast manufacturing facility. In addition, rise in adoption of environment friendly material for construction of buildings acts as restraint to the concrete market. Moreover, during the outbreak of COVID-19, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were also stopped or restricted to a huge extent. Construction and transportation activities, along with their supply chains hampered on a global level. This led to decline in manufacturing of cement, which directly hampered growth of the concrete market. However, gradually industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of cement companies at their full-scale capacities, which is expected to help the concrete market to recover by end of 2021.
On the contrary, rapid urbanization and industrialization in developing countries has given rise to construction activities and is generating growth opportunities for the concrete market growth.
The concrete market is segmented into concrete type, application, end-user industry and region. By concrete type, it is segregated into ready-mix concrete, precast products and precast elements. Depending on application, it is classified into reinforced concrete and non-reinforced concrete. On the basis of end-user industry, it is divided into roads & highways, tunnels, residential buildings, non-residential buildings &, dams & power plants, mining and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Finland, Sweden, Norway, Denmark, Belgium, Netherlands, Luxembourg and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Concrete Type
Ready-mix segment holds the largest share in concrete market
On the basis of concrete type, in 2020, the ready-mix concrete segment dominated the concrete market, in terms of revenue and the precast products segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of application, the reinforced concrete segment led the market in 2020, in terms of revenue and the non-reinforced concrete segment is anticipated to register highest CAGR during the forecast period. By end-user industry, the residential buildings segment led the market in 2020, in terms of revenue and the others segment is anticipated to register the highest CAGR during the forecast period. By region, Asia-Pacific led the market in 2020, in terms of revenue and LAMEA is anticipated to register highest CAGR during the forecast period.
Competition analysis
The major players profiled in the concrete market include CEMEX, S.A.B. de C.V., CRH, Forterra, Heidelbergcement AG, Holcim, Shay Murtagh Precast Ltd, Sika AG, Votorantim S.A., Weckenmann Anlagentechnik GmbH & Co. KG, and Wells Concrete. Major companies in the market have adopted strategies such as business expansion, acquisition, product launch, and collaboration to offer better products and services to customers in the concrete market.
By Application
Reinforced concrete segment holds dominant position in 2020
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging concrete market trends and dynamics.
- In-depth concrete market analysis is conducted by estimations for the key segments between 2021 and 2030.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The market forecast analysis from 2021 to 2030 is included in the report.
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.
Key Market Segments
By Concrete Type
- Ready-mix Concrete
- Transit Mix Concrete
- Central Mix Concrete
- Shrink Mix Concrete
- Precast Products
- Paving Stones & Slabs
- Bricks
- AAC blocks
- Others
- Precast Elements
- Facade
- Floor
- Building blocks
- Pipe
- Others
By Application
- Reinforced Concrete
- Non-reinforced Concrete
By End-User industry
- Roads & Highways
- Tunnels
- Residential Buildings
- Non-Residential Buildings
- Dams & Power Plants
- Mining
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Finland
- Sweden
- Norway
- Denmark
- Belgium
- Netherlands
- Luxembourg
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- CEMEX, S.A.B. de C.V.
- CRH
- Forterra
- Heidelbergcement AG
- Holcim
- Shay Murtagh Precast Ltd
- Sika AG
- Votorantim S.A.
- Weckenmann Anlagentechnik GmbH & Co. KG
- Wells Concrete
Concrete Market Report Highlights
| Aspects | Details |
 By Concrete Type |
|
 By Application |
|
 By End-User industry |
|
 By Region |
|
 Key Market Players | CRH, WECKENMANN ANLAGENTECHNIK GmbH & CO. KG, CEMEX, S.A.B. DE C.V., SIKA AG, HEIDELBERGCEMENT AG, HOLCIM, WELLS CONCRETE, VOTORANTIM S.A., SHAY MURTAGH PRECAST LTD, FORTERRA |
Analyst Review
The concrete market is mainly driven by increase in government expenditures for development and reconstruction & repair of infrastructure. In addition, reduced construction time and cost-efficient production of products is another driving factor for the market. Moreover, development in manufacturing technology helps to overcome labor problem as well as lead to manufacturing of large quantity of products with minimal errors. The concrete market was valued at $617,260.1 million in 2020, and is expected to reach $972,046.3 million by 2030, registering a CAGR of 4.7% from 2021 to 2030.
However, high initial setup cost of the ready-mix plants and precast product system acts as restraint for the concrete market. In addition, rise in use of sustainable building material hinders growth of the concrete market. On the contrary, rapid urbanization and industrialization of emerging countries is expected to create opportunities for growth of the concrete market during the forecast period.
Major companies in the market have adopted strategies such as acquisition, business expansion, product launch, and collaboration to offer better services to customers in the concrete market.
The concrete market was valued at $617,260.1 million in 2020, and is expected to reach $972,046.3 million by 2030, registering a CAGR of 4.7% from 2021 to 2030.
The forecast period considered for the Concrete market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
To get latest version of concrete market report can be obtained on demand from the website.
The base year considered in the concrete market report is 2020.
The top companies holding the market share in the concrete market report include CEMEX, S.A.B. de C.V., CRH, Forterra, Heidelbergcement AG, Holcim, Shay Murtagh Precast Ltd, Sika AG, Votorantim S.A., Weckenmann Anlagentechnik GmbH & Co. KG, and Wells Concrete.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
By concrete type, in 2020 the ready-mix concrete segment dominated the Concrete market, in terms of revenue and is expected to maintain this trend during the forecast period.
By end-user industry, the residential buildings segment is the highest share holder of concrete market.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The market value of the concrete market is $640,716.0 million in 2021.
Loading Table Of Content...
