Report : South America Ready Mix Concrete Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by End Use (Residential, Commercial, and Others)
At 2.9% CAGR, the South America Ready Mix Concrete Market is speculated to be worth US$ 70,731.49 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America ready mix concrete market was valued at US$ 59,485.32 million in 2022 and is expected to reach US$ 70,731.49 million by 2028, registering a CAGR of 2.9% from 2022 to 2028. Rise in commercial and residential construction projects and high government spending on infrastructure projects are the critical factors attributed to the South America ready mix concrete market expansion.
The use of 3D printing in construction projects has tremendous action on a region scale. This new construction method has the potential to deliver significant savings due to efficient use of materials and less need for labor, combating an increasing shortage of skilled laborers. All projects to date have been virtually printed with 3DCP bagged/ready-to-mix dry mix mortars characterized by high cement content rather than conventional concrete. Various suppliers have emerged on a region scale to assist the adoption of 3D printing by providing convenient ready-to-mix dry mix mortar solutions that are relatively easy to apply in various 3D printers and demonstration projects. For instance, in 2021CEMEX and COBOD International developed 3D printing solution utilizing conventional ready-mix concrete. The solution only requires central sourcing of less than 1% of the concrete mix. In comparison, more than 99% of the concrete can be based on locally available raw materials, including cement, leading to significant cost savings compared to 3D printing mortars. The first 3D building used 12 m3 of concrete for US$ 80.6/m3 for walls; therefore, the total cost for the concrete materials for the 53 m2 house was less than US$ 1.01. Considering the expense of ready-to-mix dry mix mortars, which is 5–10 times the cost of standard ready mix concrete, the building materials manufacturers COBOD International and CEMEX developed a comparatively less expensive alternative D.fab, which dropped the cost by 90%. This is expected to drive the South America ready mix concrete market during the forecast period.
On the contrary, pollution caused by commercial ready mix concrete production plants in metro cities hurdles the growth of South America ready mix concrete market.
Based on end use, the South America ready mix concrete market is categorized into residential, commercial, and others. The residential segment held 55.2% market share in 2022, amassing US$ 32,826.30 million. It is projected to garner US$ 38,786.39 million by 2028 to expand at 2.8% CAGR during 2022–2028.
Based on country, the South America ready mix concrete market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that the Rest of South America captured 53.5% market share in 2022. It was assessed at US$ 31,834.52 million in 2022 and is likely to hit US$ 38,330.16 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.
Key players dominating the South America ready mix concrete market are Vicat SA; LafargeHolcim; Buzzi Unicem S.p.A; and CEMEX S.A.B. DE C.V. among others.
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