Report : APAC and EMEA Ready-Mix Concrete Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Residential, Commercial, and Others)

Rising Demand in Infrastructure Drives APAC and EMEA Ready-Mix Concrete Growth

According to our latest study on "APAC and EMEA Ready-Mix Concrete Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Residential, Commercial, and Others),” the market is expected to grow from US$ 509,013.39 million in 2022 to US$ 689,471.01 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2022 to 2028. The report highlights key factors governing the market growth and prominent players and their progress in the market.

Ready-mix concrete is used in building materials and construction. It is an admixture of water; Portland or other cements; and other aggregates such as sand, gravel, or crushed stones along with the crushed rock, coarse gravel, granite, and limestone. The concrete also contains added super plasticizers or pozzolans, which enhances the characteristics of final product or wet ready-mix concrete.

Ready-mix concrete is in high demand in construction and infrastructure development, owing to rapid urbanization. The growing population and rapid industrialization have propelled the development of roads, highways, power construction, water systems, and dams. In the construction industry, the growing preference for ready-mix concrete over conventional concrete can be attributed to its feasibility of utilization and delivery of finished and specified quantity product. The better handling and mixing of ready-mix concrete reduces the consumption by 10 to 12%, along with ensuring high performance and uniform quality.   Moreover, government investments and schemes have increased construction activities, especially in the developing countries. According to the report by International Trade Administration, the government of the UAE announced investments in energy, transportation, utilities, nuclear energy generation, and water infrastructure. For instance, in 2021, the UAE government’s plans for boosting economic development with the major projects, Abu Dhabi National Oil Company’s (ADNOC) Al-Nouf seawater treatment plant, Dubai Municipality’s plan to build a strategic sewerage tunnel, and other construction projects like the redevelopment of Mina Rashid in Dubai, and the Dubai International Financial Centre Expansion 2.0 were announced. Moreover, in 2022, the Department for Transport (UK) announced the funding of US$ 34.83 million to develop net zero highways. Four major road schemes were announced to reduce congestion and improve connectivity, backed by the funding of US$ 186.70 million. The Department of Water Resources, River Development, and Ganga Rejuvenation (India), approved the Dam Rehabilitation and Improvement Project (DRIP) phase II and phase III in 2021 with the budget of US$ 1,280.7 million for the construction and rehabilitation of dams in the duration of 10 years. Therefore, the growing infrastructure and construction activities in APAC and EMEA is projected to impel the ready-mix concrete market during the forecast period.

ACC Limited; Vicat SA; Lafargeholcim; Barney and Dickenson Inc.; R.W. Sidley, Inc.; Buzzi Unicem S.P.A; Cemex S.A.B. De C.V.; Heidelbergcement AG; Ultratech Cement Ltd.; and Crown Cement Plc. are among the key players in the APAC and EMEA ready-mix concrete market.

Impact of COVID-19 Pandemic on APAC and EMEA Ready-Mix Concrete Market Growth

Before the COVID-19 pandemic, the ready-mix concrete market was mainly driven by its high demand in the construction of residential and commercial buildings. The COVID-19 pandemic had a negative impact on the market due to the imposition of lockdown and social distancing, challenges in procuring raw materials and components, and restrictions on logistic operations. Disruptions in the raw material supply chains and lack of labor hampered the ready-mix concrete market. Along with this, trade restrictions due to the pandemic had a negative impact on the trade of raw materials and ready-mix concrete. In 2020, most of the construction activities in many countries were on halt, and active construction sites functioned with only 50% capacity. Builders have experienced delays and rise in costs for imported raw materials and off-site building materials as many factories were closed for lengthy periods. However, businesses are gaining pace as the governments of European countries have eased out the previously imposed restrictions. According to the World Economic Forum, the COVID-19 pandemic has influenced innovation in home design. The rise in activities of house renovation open lucrative growth opportunities for the ready-mix concrete market. 

The "APAC and EMEA Ready-Mix Concrete Market Forecast to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the APAC and EMEA ready-mix concrete trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The APAC and EMEA ready-mix concrete market is segmented on the basis of application. Based on application, the market is segmented into residential, commercial, and others. The residential segment dominated the market in 2021, and the market for the same segment is expected to grow at the highest pace during the forecast period.

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