Concrete Market Size, Share, Growth Analysis, By Concrete Type (Reinforced Concrete, Green Concrete), By Application (Residential, Non-Residential), By End-User Industry (Roads & Highways, Dams & Power Plants), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG15F2194 |
Region:
Global |
Published Date: November, 2024
Pages:
173
|Tables:
0
|Figures:
0
Concrete Market Insights
Concrete Market size was valued at USD 192.47 Billion in 2023 and is poised to grow from USD 201.52 Billion in 2024 to USD 291 Billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).
This increasing demand for residential and commercial complexes in cities across the globe has been contributed by rapid urbanization. As the population in the cities is growing rapidly, an infrastructure boost is becoming vital to maintain the urban lifestyle and execute daily operations very smoothly. Consequently, governments have sunk enormous amounts of money into infrastructure development projects, from public utilities and urban planning ventures to highways and bridges. During the projection period, the growth of the economy, especially in developing countries, is expected to significantly increase the consumption of concrete, an essential building material, across the globe. Existing infrastructural design needs to expand and renovate quite regularly because cities are always expanding to meet other changing demands. In addition to funding new infrastructural construction, governments also fund the repair and renovation of existing buildings. The concrete market growth is mainly due to technological developments. There are new and emerging innovations in concrete, such as smart concrete which can identify possible problems in the structure before they become so. Such concrete can feel the smallest cracks or slight damage, which means some early notice for maintenance professionals. Its highlighted safety features make smart concrete most useful in disaster-prone areas, such as those always hit by earthquakes. It simplifies and streamlines building inspection while ensuring durability and security of infrastructure in response to the growing needs for buildings in urban locations.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Concrete Market Segmental Analysis
The global concrete market is segmented into concrete type, application, end-user industry, and region. By concrete type, the market is classified into ordinary concrete, reinforced concrete, ready-mix concrete, precast concrete, green concrete, aerated concrete, and others. Depending on the application, it is categorized into residential and non-residential. According to end-user industry, the market is divided into roads & highways, tunnels, dams & power plants, mining, and others. Regionally, the market is studied across North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Concrete Type
As per the concrete market analysis, the reinforced concrete segment dominated the market in 2023. The type of concrete is vital for the construction of buildings that need durability and strength; this falls on the high-rise buildings, bridges, and other infrastructural works. It comprises of steel reinforcing bars known as rebar implanted into the concrete to increase its tensile strength. High tensile strength and capability to create it for a variety of building projects make reinforced concrete one of the excellent materials. The long service life is the major reason that reinforces concrete stands at number one position during any major building project. Despite the passage of time, reinforced concrete in the market remains prevalent according to its strength, affordability, and applicability.
However, the green concrete is expected to grow at the fastest rate during the forecast period. This is attributed to the increased demand for green-friendly materials and eco-friendly building techniques. Green concrete has a smaller environmental impact than regular concrete as it is prepared from waste resources such as fly ash, slag, or recycled aggregates. As it has the potential to cut carbon emissions in its production process, it's getting more and more popular in regions where sustainability becomes a top priority. With the trend toward green building standards and buildings having an energy efficiency that the world seems to be heading for, green concrete is expected to rapidly increase in demand as governments and construction companies look toward reducing their impact on the environment.
Analysis By Application
As per the concrete market forecast, the residential segment led the concrete market as a whole. It accommodates a majority of the building activity across the globe due to perpetual population growth, urbanization, and ever-growing demand for housing. In this industry falls the single-family houses, multi-family buildings, and apartment complexes. New residential real estate to house many people has been in demand with cities expanding and people moving into metropolitan areas. Demand is also provided by such stimuli as government encouragement of home ownership and low mortgage interest rates, where applicable. Residential building continues to be the stalwart of the construction industries of developed economies with stable and robust demand.
Contrarily, the fastest growing segment of the global concrete industry is non-residential. These would include office buildings, factories, schools, hospitals, and transportation networks for infrastructure projects. Such drivers that have hastened this sector include the growth of the world economy, increase in infrastructure spending, and urban renewal initiatives. High rates of urbanization and industrialization have driven a high increase in the construction of non-residential buildings in developing countries. With the growth of e-commerce and technical advancements, increased demand has led to the expansion of the sector in the cases of data centers, warehouses, and logistics facilities.
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Concrete Market Regional Insights
Asia-Pacific held the largest concrete market share. This region is home to some of the biggest economies in the world, including China, India, and Japan. This region has proven to be an undisputed leader in building infrastructure and activities. China has been leading the curve in building on a global scale for decades, with massive expenses in infrastructural, commercial, and residential projects led by government initiative and increasing urbanization. The requirement for residential and non-residential development is increasing in India due to the growing middle class and population. In case of large-scale urbanization, industrialization, and infrastructure development of the region, especially in developing markets, significantly benefits the area. The region is contributing a great deal to the production of buildings in the world.
However, the Middle East & Africa is now experiencing its fastest growth ever in the concrete sector. The three major growth drivers involve large-scale urban development initiatives, large-scale infrastructure investments, and initiatives by oil-dependent economies in diversification. Some of the real estate investments, infrastructure investments, tourism investment, and smart city investments are the priorities undergoing by Saudi Arabia, UAE, Qatar, Egypt, and other nations. Included in the region are mega-projects such as Saudi Arabia's Vision 2030, heading toward futuristic cities such as Neom, or huge infrastructure upgrades related to the FIFA World Cup 2022 in Qatar and the World Expo 2020 in Dubai. Due to such large-scale projects, the expanding cities, and the necessity of diversifying from reliance on oil resources, the MEA has now become the world's fastest-growing sector.
- Largest
- Fastest
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Concrete Market Dynamics
Drivers
- Infrastructure Development and Urbanization
Probably the biggest driver of the concrete industry is the global pattern of growing urbanization. As cities expand along with their populations, so does demand for more buildings, roads, bridges, and other infrastructure. It is for these reasons strength, flexibility, and value that make it concrete the material of choice for massive construction projects from major transit networks to residential buildings in both developed and developing countries.
- Green Building and Sustainability Initiatives
Sustainable construction is becoming increasingly important, along with the demand for environmentally friendly concrete solutions. The encouragement of low carbon and energy efficient concrete, with the use of recycled materials and alternative binders is ensured by green building certifications such as LEED (Leadership in Energy and Environmental Design). Environmentally friendly concrete product developments are one of the leading drivers for the market wherein authorities and institutions keep trying to get at par for sustainability in building.
Restraints
- Carbon Emissions and Environment Impacts
Notwithstanding this, some of the limiting factors in the market are specifically environmental impacts of concrete, including major carbon emissions connected with cement manufacture. Contributions by industry to global CO2 emissions left the consumers, environmental organizations, as well as the regulators putting greater pressure on the sector to produce more sustainable solutions. Greener concrete remains a challenge despite efforts to reduce emissions.
- Supply Constraints on raw materials
The availability of raw resources such as cement and sand limit the concrete market. In certain locations, cost increases have been felt due to supply-related issues brought about by the over-extraction of sand from rivers and beaches. As a satisfactory supply of limestone and other required minerals is not guaranteed, this could become a problem for the cement industry, which will limit their production and drive prices up in the near term.
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Concrete Market Competitive Landscape
The competitive environment in the concrete sector is characterized by a mixture of large international players and local competitors. Major global companies such as HeidelbergCement, LafargeHolcim, and CEMEX dominate the market with their portfolio of concrete products and solutions. Regional companies focus on regional markets and, more often than not, place their focus on being low-priced, sustainable, and backed up with local supply chains. There arise new businesses specializing in cutting-edge goods such as high-performance and environmentally friendly concrete and 3D printing technology that threatens its market.
Top Player’s Company Profile
- 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.
- CEMEX S.A.B. de C.V.
- HeidelbergCement
- CRH
- Wells Concrete
Recent Developments
- In March 2024, Shree Cement launched Bangur Concrete besides inaugurating its first Greenfield RMC unit in Hyderabad. The unit will produce 90 cubic meters an hour from the unit. This will increase the cement business of the company through this initiative.
- In June 2023, Buzzi Unicem agreed to sell part of its ready-mix concrete business in Slovakia and Ukraine to prominent building materials solutions provider CRH for a consideration of USD 109 million through its subsidiary Dyckerhoff GmbH.
- In May 2023, Holcim successfully acquired BESBLOCK LTD for the purpose of enhancing its ready-mixed concrete business in the UK and strengthening its lead in market positions for sustainable construction solutions.
Concrete Key Market Trends
- Self-Healing Concrete: Among the most significant concrete market trends is the development of self-healing concrete. Self-healing concrete added with substances such as bacteria or capsule releases healing chemicals that can autonomously mend small cracks on its surface and extend the lifespan of a building. This invention is gaining more acceptance in commercial and infrastructure projects due to added features such as lower maintenance costs and higher resistance of roads and buildings under extreme conditions.
- Modular Building and 3D Printing: The concrete industry is changing with the 3D printing innovations and modular building. For instance, modular building provides faster and more efficient building compared to the other methods available. Applying this 3D printing innovation, it can offer designs that are intricately complex in nature, thereby giving unique shapes in the concrete without too much material wastage. The technologies are being adopted and used for affordable housing and distinctive architectural designs since they offer creative and economic alternatives to conventional methods.
Concrete Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, based on the variety of factors such as infrastructure development, global urbanization, and other rising environmental building material demands, a steady growth in demand is expected from the concrete market. Even though conventional concrete remains the bedrock of the industry, newer developments such as self-healing concrete, environmentally friendly materials, and 3D printing technologies are all leading this sector towards the right direction. However, for long-term sustainability, it must counter excessive carbon emissions, depletion of raw material, and environment. This will put market leaders in a position to work with the new changes, which might be a pulling force towards greener technology and more efficient ways of production. Considering all these factors, concrete market prospects will change, but efficiency, technical advancement, and environmental responsibility remain at the helm of both residential and non-residential markets.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 183.83 Billion |
| Market size value in 2031 | USD 277.94 Billion |
| Growth Rate | 4.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Concrete Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Concrete Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Concrete Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Concrete Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Concrete Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Concrete Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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