Application segments performance in the global ready mix concrete market.

The global ready mix concrete market is expected to grow at a CAGR of 3.79% during the forecast period. Based on the application, the global ready mix concrete market has been segmented into non-residential and residential.

Ready mix concrete is widely used in non-residential construction across the world, primarily due to a rise in the number of infrastructural development projects in emerging economies, such as China, India, Indonesia, Brazil, and Russia. The above-mentioned countries accounted more than 33% of the global construction industry in 2018. For instance, several government infrastructure projects in Brazil, which include the construction of roadways, railways, and airports, are expected to start by the end of 2019. This is expected to drive the demand for ready mix concrete in the country during the forecast period.

Request for: Free Sample Report

Furthermore, in India, infrastructure projects such as the expansion of Navi Mumbai International Airport and the development of the Chenab bridge have increased the demand for ready mix concrete in the country. In China, the development of Yujiap Financial District and South-North Water Transfer Project has led to a rise in the demand for ready mix concrete. Thus, the increasing non-residential construction across the world is expected to fuel the growth of the global ready mix concrete market during the forecast period.