The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research delivers key insights on the global ready-mix concrete market, in its report titled, ‘Ready-Mix Concrete Market: Global Industry Analysis 2014–2018 and Forecast 2019–2029‘. Over the coming years, the global ready-mix concrete market is expected to show a positive outlook, owing to the rising demand from infrastructure as well as residential projects across various geographies. On the basis of concrete type, the standard concrete segment is expected to account for a prominent share throughout the forecast years, supported by its usage in various applications in sectors such as residential, commercial, infrastructure, etc.
Globally, the ready-mix concrete market was valued at US$ 59.8 Bn at the end of 2018. East Asia is expected to account for a lion’s share in the global ready-mix concrete market throughout the forecast years, owing to the rising demand from China.
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Global Ready-Mix Concrete Market: Dynamics
The construction materials market, primarily ready-mix concrete, has witnessed substantial incremental growth over the recent years. This can be primarily attributed to the economic conditions in numerous countries. The construction industry across emerging economies is anticipated to witness acceleration in various large-scale infrastructural programs, which, in turn, is expected to create public-private partnership opportunities. Thus, increasing governmental spending as well as favorable economic conditions are expected to assist the global ready-mix concrete market over the coming years
However, the global ready-mix concrete market faces various challenges such as the on-time delivery of ready-mix concrete at construction sites. The uninterrupted and timely delivery of ready-mix concrete at construction sites is of utmost importance for effective construction operations. Due to the small time window available for the transportation of concrete material, delivering this material in the shortest time is imperative.
The utilization of environmental-friendly (green) products for the manufacturing of ready-mix concrete is found to be one of the key trends in the global ready-mix concrete market. For instance, RMCMA, jointly with the Confederation of Indian Industry and Quality Council of India, developed a green product certification for ready-mix concrete.
Global Ready-Mix Concrete Market: Forecast
Among the different concrete types, the flowable fill/CLSM segment accounted for a very small share in the market at the end of 2018. However, its demand is expected to witness prominent growth in the global ready-mix concrete market over the forecast years. The flowable fill/CLSM concrete type is comparatively an economic alternative to compacted granular fill, which saves labor costs, time, as well as equipment.
Considering the regions, developing economies such as India and China are expected to witness substantial growth throughout the forecast years, supported by various governmental initiatives towards development, such as the Bharat Mala Pariyojna, Sagarmala Project, Shanghai urban rail transit expansion, intercity rail network in Eastern Guangdong, etc. The ready-mix concrete market in North America is expected to witness a below-average growth rate over the forecast years.
- CEMEX S.A.B. de C.V.
- HeidelbergCement AG
- LafargeHolcim Ltd.
- CRH plc
- Martin Marietta Inc.
- Vulcan Materials Company
- Vicat S.A.
- Votorantim Cimentos
- Dillon Bros Concrete LLC
- RDC Concrete (India) Pvt. Ltd.
- UltraTech Cement Ltd.
- ACC Limited
- Prism Johnson Limited
- Nuvoco Vistas Corp Ltd.
- Skyway RMC Plants Private Limited
- CONCRETE INDIA
- RayMix Concrete India Pvt Ltd.
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