Concrete Market

Global Concrete Market Size, Trends & Analysis - Forecasts to 2026 By Product (Ordinary Concrete, Reinforced Concrete, Ready-Mix Concrete, Precast Concrete, Green Concrete, Aerated Concrete, Others), By Type (Concrete Articles, Tiles & Flagstones, Prefabricated Structures, Panels, Boards & Blocks), By Application (Residential, Non-Residential), Competitive Landscape Company Market Share Analysis, and Competitor Analysis

Category Chemicals & Advanced Material

Format

This report was recently updated on November 14 2024 with the latest and most recent market numbers

Concrete Market Insights

The global concrete market size is projected to grow from USD 687.2 billion in 2021 to reach USD 821.6 billion by 2026 at a CAGR value of 6.0%. The global concrete market is driven by the growth of the construction industry and the growing investment in new construction projects across the globe.

The growing construction industry has evolved in recent years and has more complex needs. Concrete has also evolved to meet these varying needs and is now available in various forms based on the ratio of cement, sand, and aggregates that are used to produce the concrete. With the advent of reinforced concrete in the 19th century, the use of concrete in construction projects has skyrocketed. Concrete is made from a mixture of cement, sand, and aggregates at a ratio of 1:2:4. The aggregates that are used commonly are sand, gravel, or crushed stones. By changing the ratio they are mixed in changes the properties of the concrete. Concrete has multiple applications in the construction industry. It can be used in building dams, building bridges, laying pavements and roofs, and roadways, among other uses.

Rapid urbanization has contributed to the growing demand for residential and commercial complexes in most cities across the globe. As cities are growing, they need infrastructure to support the lifestyle and to ensure the smooth running of cities prompting governments to spend heavily on infrastructure development projects. Economic growth and rapid urbanization in developing nations are expected to increase the global concrete market value during the forecast period. With the passage of time, infrastructure has to be renovated and expanded to meet the growing demand. Governments are also spending heavily on infrastructure renovation as well as the development of new projects. In 2020, the UK government has proposed plans to invest 133 billion USD to upgrade the country’s existing infrastructure. With the planned construction of over 800,000 new houses, community facilities, roadways, and cycle lanes, there will be an increase in the demand for various types of concrete. The UK is not alone, other nations like Canada and Germany are already well into their long-term plans of infrastructure development.

Technological advancements are also expected to play an important part in the growth of the global concrete market. Smart concrete is being developed which can detect potential issues with the concrete before the failure occurs, such concrete can sense minute structural flaws in the concrete. Such concrete is expected to be important in cities that are prone to earthquakes and facilitate ease of building inspection to ensure the safety of its residents.

The global concrete market is restrained by the growing restrictions on free trade by developing and developed nations. The introduction of new tariffs and an increase in existing tariffs will limit the growth of the concrete market. The fluctuating prices of raw materials are also of major concern to cement manufacturers as the volatile nature can impact the revenue generated. The COVID-19 pandemic has also severely impacted the concrete market as construction projects and manufacturing plants had to be shut down across the globe. Disruption of supply chains has reduced the investment into the construction industry but with lockdowns and restrictions being eased, the global concrete market is also expected to bounce back during the forecast period.

global concrete market

Concrete Market: By Product

By changing the ratio of cement, sand, and aggregates, and the addition of other materials has resulted in a wide array of concrete products available in the market. The concrete market can be fragmented into ordinary concrete, reinforced concrete, ready-mix concrete, precast concrete, green concrete, aerated concrete, and others.

The reinforced concrete market is expected to hold the dominant share of the market. The wide range of applications of reinforced concrete has been the major contributor to the dominance of this segment. Reinforced concrete is reinforced with steel wires, rods, and more recently with fibers. The high tensile strength and ability to resist compression have been the major drivers of the demand for reinforced concrete. The ready-mix concrete segment is envisaged to log the fastest growth rates among all segments owing to the ease of use, more precise mixing of concrete, and relative confusion-free environment at the construction site as the mixing is done elsewhere.

Concrete Market: By Type

Based on the various types of concrete available, the concrete market can be segmented as concrete articles, tiles & flagstones, prefabricated structures, and panels, boards & blocks. The concrete articles segment is expected to clutch the lion’s share of the market. The prefabricated structures market is expected to register significantly higher growth rates than the other segments during the forecast period.

Concrete Market: By Application

Based on the applications of concrete, the concrete market can be segmented as residential and non-residential segments. The non-residential segment is expected to grasp the largest chunk of the global concrete market. The non-residential sector has always attracted heavy investments and is encompass a wide array of concrete applications, Growing government spending on infrastructure development and construction of commercial complexes are expected to contribute to the growth of the global concrete market. The non-residential segment is also predicted to grow faster than the residential segment during the forecast period.

asia pacific concrete market

Concrete Market: By Region

The concrete market can be categorized geographically as North America, Central & South America, Europe, Middle East & Africa, and Asia Pacific regions. The APAC region is expected to hold the largest chunk of the global concrete market while also growing at the fastest rate during the forecast period. The APAC region has been undergoing rapid urbanization which has contributed to the growing demand for concrete in the region. Increased spending on infrastructure development in the region by governments, a growing number of vendors in the region, and increasing demand for energy-efficient building solutions are expected to be the major drivers of the concrete market in the APAC region.

Concrete Market Share and Competitor Analysis

Balfour Beatty, ACC Ltd, UltraTech Cement, Barney and Dickenson, Buzzi Unicem S.p.A., Laing O’Rourke, Julius Berger Nigeria, Boral Limited, Skanska AB, LafargeHolcim Ltd., Vicat S.A., and CEMEX S.A.B. de C.V., among others are the key players in the global concrete market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Concrete Industry Overview, 2020-2026

2.1.1 Industry Overview

2.1.2 Product Overview

2.1.3 Type Overview

2.1.4 Application Overview

2.1.6 Regional Overview

Chapter 3 Concrete Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2020-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Rising number of construction projects in developing nations

3.3.2 Industry Challenges

3.3.2.1 Growing restrictions on free trade by developing and developed nations

3.4 Prospective Growth Scenario

3.4.1 Product Growth Scenario

3.4.2 Type Growth Scenario

3.4.3 Application Growth Scenario

3.5 COVID-19 Influence over Industry Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Application Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Concrete Market, By Product

4.1 Product Outlook

4.2 Ordinary Concrete

4.2.1 Market Size, By Region, 2020-2026 (USD Billion)

4.3 Reinforced Concrete

4.3.1 Market Size, By Region, 2020-2026 (USD Billion)

4.4 Read-Mix Concrete

4.4.1 Market Size, By Region, 2020-2026 (USD Billion)

4.5 Precast Concrete

4.5.1 Market Size, By Region, 2020-2026 (USD Billion)

4.6 Green Concrete

4.6.1 Market Size, By Region, 2020-2026 (USD Billion)

4.7 Aerated Concrete

4.7.1 Market Size, By Region, 2020-2026 (USD Billion)

4.8 Others

4.8.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 5 Concrete Market, By Type

5.1 Type Outlook

5.2 Concrete Articles

5.2.1 Market Size, By Region, 2020-2026 (USD Billion)

5.3 Tiles & Flagstones

5.3.1 Market Size, By Region, 2020-2026 (USD Billion)

5.4 Prefabricated Structures

5.4.1 Market Size, By Region, 2020-2026 (USD Billion)

5.5 Panels, Boards & Blocks

5.5.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 6 Concrete Market, By Application

6.1 Residential

6.1.1 Market Size, By Region, 2020-2026 (USD Billion)

6.2 Non-Residential

6.2.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 7 Concrete Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market Size, By Country 2020-2026 (USD Billion)

7.2.2 Market Size, By Product, 2020-2026 (USD Billion)

7.2.3 Market Size, By Type, 2020-2026 (USD Billion)

7.2.4 Market Size, By Application, 2020-2026 (USD Billion)

7.2.6 U.S.

7.2.6.1 Market Size, By Product, 2020-2026 (USD Billion)

7.2.4.2 Market Size, By Type, 2020-2026 (USD Billion)

7.2.4.3 Market Size, By Application, 2020-2026 (USD Billion)

7.2.7 Canada

7.2.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.2.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.2.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3 Europe

7.3.1 Market Size, By Country 2020-2026 (USD Billion)

7.3.2 Market Size, By Product, 2020-2026 (USD Billion)

7.3.3 Market Size, By Type, 2020-2026 (USD Billion)

7.3.4 Market Size, By Application, 2020-2026 (USD Billion)

7.3.6 Germany

7.3.6.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.6.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.7 UK

7.3.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.8 France

7.3.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.9 Italy

7.3.9.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.9.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.9.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.10 Spain

7.3.10.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.10.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.10.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.11 Russia

7.3.11.1 Market Size, By Product, 2020-2026 (USD Billion)

7.3.11.2 Market Size, By Type, 2020-2026 (USD Billion)

7.3.11.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4 Asia Pacific

7.4.1 Market Size, By Country 2020-2026 (USD Billion)

7.4.2 Market Size, By Product, 2020-2026 (USD Billion)

7.4.3 Market Size, By Type, 2020-2026 (USD Billion)

7.4.4 Market Size, By Application, 2020-2026 (USD Billion)

7.4.6 China

7.4.6.1 Market Size, By Product, 2020-2026 (USD Billion)

7.4.6.2 Market Size, By Type, 2020-2026 (USD Billion)

7.4.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.7 India

7.4.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.4.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.4.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.8 Japan

7.4.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.4.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.4.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.9 Australia

7.4.9.1 Market Size, By Product, 2020-2026 (USD Billion)

7.4.9.2 Market size, By Type, 2020-2026 (USD Billion)

7.4.9.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.10 South Korea

7.4.10.1 Market Size, By Product, 2020-2026 (USD Billion)

7.4.10.2 Market Size, By Type, 2020-2026 (USD Billion)

7.4.10.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5 Latin America

7.5.1 Market Size, By Country 2020-2026 (USD Billion)

7.5.2 Market Size, By Product, 2020-2026 (USD Billion)

7.5.3 Market Size, By Type, 2020-2026 (USD Billion)

7.5.4 Market Size, By Application, 2020-2026 (USD Billion)

7.5.6 Brazil

7.5.6.1 Market Size, By Product, 2020-2026 (USD Billion)

7.5.6.2 Market Size, By Type, 2020-2026 (USD Billion)

7.5.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5.7 Mexico

7.5.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.5.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.5.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5.8 Argentina

7.5.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.5.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.5.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6 MEA

7.6.1 Market Size, By Country 2020-2026 (USD Billion)

7.6.2 Market Size, By Product, 2020-2026 (USD Billion)

7.6.3 Market Size, By Type, 2020-2026 (USD Billion)

7.6.4 Market Size, By Application, 2020-2026 (USD Billion)

7.6.6 Saudi Arabia

7.6.6.1 Market Size, By Product, 2020-2026 (USD Billion)

7.6.6.2 Market Size, By Type, 2020-2026 (USD Billion)

7.6.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6.7 UAE

7.6.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.6.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.6.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6.8 South Africa

7.6.7.1 Market Size, By Product, 2020-2026 (USD Billion)

7.6.7.2 Market Size, By Type, 2020-2026 (USD Billion)

7.6.7.3 Market Size, By Application, 2020-2026 (USD Billion)

Chapter 8 Company Landscape

8.1 Competitive Analysis, 2020

8.2 Balfour Beatty

8.2.1 Company Overview

8.2.2 Financial Analysis

8.2.3 Strategic Positioning

8.2.4 Info Graphic Analysis

8.3 ACC Ltd

8.3.1 Company Overview

8.3.2 Financial Analysis

8.3.3 Strategic Positioning

8.3.4 Info Graphic Analysis

8.4 UltraTech Cement

8.4.1 Company Overview

8.4.2 Financial Analysis

8.4.3 Strategic Positioning

8.4.4 Info Graphic Analysis

8.5 Barney and Dickenson

8.5.1 Company Overview

8.5.2 Financial Analysis

8.5.3 Strategic Positioning

8.5.4 Info Graphic Analysis

8.6 Buzzi Unicem S.p.A.

8.6.1 Company Overview

8.6.2 Financial Analysis

8.6.3 Strategic Positioning

8.6.4 Info Graphic Analysis

8.7 Laing O’Rourke

8.7.1 Company Overview

8.7.2 Financial Analysis

8.7.3 Strategic Positioning

8.7.4 Info Graphic Analysis

8.8 Julius Berger Nigeria

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Info Graphic Analysis

8.9 Boral Limited

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Info Graphic Analysis

8.10 Skanska AB

8.10.1 Company Overview

8.10.2 Financial Analysis

8.10.3 Strategic Positioning

8.10.4 Info Graphic Analysis

8.11 Other Companies

8.11.1 Company Overview

8.11.2 Financial Analysis

8.11.3 Strategic Positioning

8.11.4 Info Graphic Analysis

The Global Concrete Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Concrete Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global concrete market?

The global concrete market size is projected to grow from USD 687.2 billion in 2021 to USD 821.6 billion by 2026, at a CAGR of 6% during the forecast period.

Who are the major vendors in the concrete market?

Key and innovative vendors in the concrete market include Balfour Beatty, ACC Ltd, UltraTech Cement, Barney and Dickenson, Buzzi Unicem S.p.A., Laing O’Rourke, Julius Berger Nigeria, Boral Limited, Skanska AB, LafargeHolcim Ltd., Vicat S.A., and CEMEX S.A.B. de C.V.

Which region has the highest market share in the concrete market?

The Asia Pacific is estimated to hold the highest market share in the concrete market.

What is the Covid-19 impact on future concrete manufacturers?

Globally, Covid-19 impact on the future concrete market will be quite significant for the manufacturers. The Asia Pacific region would be leading because of the rapid urbanization and increased spending on infrastructure development in the region by governments.

What are the major drivers in the concrete market?

The major driving factors for the concrete market include growing investment in new construction projects; rapid urbanization; soaring technological advancements; growing demand for residential and commercial complexes.