Market Size of asia-pacific ready mix concrete Industry
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Study Period | 2018 - 2030 |
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Market Volume (2024) | 4.02 Billion Cubic meters |
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Market Volume (2030) | 5.45 Billion Cubic meters |
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Largest Share by End Use Sector | Residential |
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CAGR (2024 - 2030) | 5.18 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Ready Mix Concrete Market Analysis
The Asia-Pacific Ready Mix Concrete Market size is estimated at 4.02 billion Cubic meters in 2024, and is expected to reach 5.45 billion Cubic meters by 2030, growing at a CAGR of 5.18% during the forecast period (2024-2030).
4.02 Billion
Market Size in 2024 (Cubic meters)
5.45 Billion
Market Size in 2030 (Cubic meters)
4.25 %
CAGR (2018-2023)
5.18 %
CAGR (2024-2030)
Largest Market by Product
73.04 %
volume share, Transit Mixed, 2023
Owing to the strict timelines of construction projects and the use of affordable concrete in the country's construction industry, transit mix has dominated the market.
Largest Market by End Use Sector
39.44 %
volume share, Residential, 2023
Due to the growing usage of ready-mix concrete for applications such as building foundations, floors, walls, columns, etc., the residential sector has dominated the market.
Largest Market by Country
78.99 %
volume share, China, 2023
With the continuous development of its provinces, followed by the construction of huge residential complexes, the demand for ready-mix concrete increased, making China the largest consumer in the region.
Fastest Market by Country
7.16 %
Projected CAGR, Indonesia, 2024-2030
Growing demand for commercial construction coupled with government plans for various institutional and residential projects is raising the demand for ready-mix concrete. The country is expected to witness the fastest growth in the coming years.
Leading Company
4.47 %
market share, China National Building Material Group Corporation, 2022
In 2022, the company holds the largest share with its large ready-mix concrete production capacity of around 460 million cubic meters per year in the region. The company serves customers across various construction sectors.
High investments through private-public partnerships in the Asia-Pacific construction sector are predicted to boost the demand for ready-mix concrete
- Ready-mix concrete is manufactured in a batching plant according to customer requirements and approved design mix and is widely used for the construction of housing units, infrastructure, commercial buildings, etc. In 2022, the ready-mix concrete market in Asia-Pacific accounted for 75% of the global market volume share. In the same year, infrastructure construction considerably influenced ready-mix concrete demand owing to rising private-public partnerships aimed at enhancing the region's infrastructure. Furthermore, in 2023, the market was predicted to grow by 237.5 million cubic meters compared to 2022 due to numerous government propositions aimed at developing the construction sector across the region.
- Residential construction significantly dominated the ready-mix concrete market in 2022, with the largest market share of 1.39 billion cubic meters. Moreover, in 2023, low mortgage rates on home purchases, along with affordable housing schemes offered by the government, will increase the demand for new residential units in Asia-Pacific. The new floor area for residential construction was expected to increase by about 410 million sq. ft in 2023 compared to 2022, and the ready-mix concrete market for residential construction is anticipated to grow by 8.26% in volume during the same period.
- The ready-mix concrete market for commercial construction is estimated to register the fastest CAGR of 6.86% in volume during the forecast period, with expeditious demand anticipated from China, India, and South Korea. The new floor area for commercial construction in Asia-Pacific is projected to increase by 1.5 billion sq. ft in 2030 compared to 2022 while raising the demand for ready-mix concrete.
High demand for ready-mix concrete is forecasted in Indonesia due to rising government investments in the construction sector
- Ready-mix concrete comprises cement, water, and aggregates like sand or gravel and admixtures mixed in accurate proportions. It is primarily used for infrastructure and residential construction. In 2022, the Asia-Pacific ready-mix concrete market accounted for 3.59 billion cubic meters of the global market share. In the same year, India's ready-mix concrete market displayed a sharp growth of 17.76% compared to 2021. Furthermore, in 2023, Asia-Pacific was bound to receive high investments in the residential and infrastructure construction sector, and the market is expected to grow by 6.61% compared to 2022.
- In 2022, the Asia-Pacific ready-mix concrete market was considerably dominated by China. Despite the lockdowns imposed by the government, China's infrastructure sector recorded a growth of 6.24% from 2021 to 2022. This can be attributed to the high expenditure on transport infrastructure, which reached USD 165.6 billion in 2022 compared to USD 157.6 billion in 2021. Moreover, the residential construction sector witnessed several reforms and new policies that renewed consumer interest in purchasing properties. Such investments and schemes are expected to propel the growth of the construction sector. In 2023, the market was estimated to grow by 7.78% compared to 2022.
- The Indonesian ready-mix concrete market is estimated to register the fastest CAGR of 7.31% during the forecast period. Following the "Capital City Bill," construction has begun on the USD 32 billion plan to relocate the country's capital city from Jakarta to Borneo Island by 2045, including housing complexes, manufacturing units, and infrastructure. A multitude of construction projects are yet to be implemented that are expected to raise ready-mix concrete demand.
Asia-Pacific Ready Mix Concrete Industry Segmentation
Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Central Mixed, Shrink Mixed, Transit Mixed are covered as segments by Product. Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Vietnam are covered as segments by Country.
- Ready-mix concrete is manufactured in a batching plant according to customer requirements and approved design mix and is widely used for the construction of housing units, infrastructure, commercial buildings, etc. In 2022, the ready-mix concrete market in Asia-Pacific accounted for 75% of the global market volume share. In the same year, infrastructure construction considerably influenced ready-mix concrete demand owing to rising private-public partnerships aimed at enhancing the region's infrastructure. Furthermore, in 2023, the market was predicted to grow by 237.5 million cubic meters compared to 2022 due to numerous government propositions aimed at developing the construction sector across the region.
- Residential construction significantly dominated the ready-mix concrete market in 2022, with the largest market share of 1.39 billion cubic meters. Moreover, in 2023, low mortgage rates on home purchases, along with affordable housing schemes offered by the government, will increase the demand for new residential units in Asia-Pacific. The new floor area for residential construction was expected to increase by about 410 million sq. ft in 2023 compared to 2022, and the ready-mix concrete market for residential construction is anticipated to grow by 8.26% in volume during the same period.
- The ready-mix concrete market for commercial construction is estimated to register the fastest CAGR of 6.86% in volume during the forecast period, with expeditious demand anticipated from China, India, and South Korea. The new floor area for commercial construction in Asia-Pacific is projected to increase by 1.5 billion sq. ft in 2030 compared to 2022 while raising the demand for ready-mix concrete.
| End Use Sector | |
| Commercial | |
| Industrial and Institutional | |
| Infrastructure | |
| Residential |
| Product | |
| Central Mixed | |
| Shrink Mixed | |
| Transit Mixed |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
Asia-Pacific Ready Mix Concrete Market Size Summary
The Asia-Pacific ready-mix concrete market is poised for significant growth, driven by increasing demand in residential and commercial construction sectors. This market is characterized by its substantial contribution to the global market volume, with a dominant share in infrastructure development projects. The region's construction activities are bolstered by government initiatives and private-public partnerships aimed at enhancing infrastructure, which in turn fuels the demand for ready-mix concrete. The market is also witnessing a surge in residential construction, supported by favorable government policies and low mortgage rates, which are expected to stimulate the demand for new housing units. The commercial construction sector is anticipated to experience the fastest growth, particularly in countries like China, India, and South Korea, due to rising foreign direct investments and the expansion of retail and office spaces.
The ready-mix concrete market in Asia-Pacific is fragmented, with key players like BBMG Corporation, China National Building Material Group Corporation, and others leading the charge. These companies are expanding their production capabilities to meet the growing demand, as evidenced by recent investments in new production facilities. The market's growth trajectory is further supported by the region's rapid urbanization, increasing wealth, and the need for affordable housing, particularly in India. As the region continues to recover from the impacts of the COVID-19 pandemic, the ready-mix concrete market is expected to benefit from the resurgence in both residential and commercial construction activities, positioning it for robust growth in the coming years.
Asia-Pacific Ready Mix Concrete Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)
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1.1 End Use Sector
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1.1.1 Commercial
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1.1.2 Industrial and Institutional
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1.1.3 Infrastructure
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1.1.4 Residential
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1.2 Product
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1.2.1 Central Mixed
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1.2.2 Shrink Mixed
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1.2.3 Transit Mixed
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1.3 Country
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1.3.1 Australia
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1.3.2 China
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1.3.3 India
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1.3.4 Indonesia
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1.3.5 Japan
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1.3.6 Malaysia
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1.3.7 South Korea
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1.3.8 Thailand
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1.3.9 Vietnam
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1.3.10 Rest of Asia-Pacific
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Asia-Pacific Ready Mix Concrete Market Size FAQs
What is the current Asia-Pacific Ready Mix Concrete Market size?
The Asia-Pacific Ready Mix Concrete Market is projected to register a CAGR of 5.18% during the forecast period (2024-2030).
Who are the key players in Asia-Pacific Ready Mix Concrete Market?
BBMG Corporation, China National Building Material Group Corporation, CSCEC, Foshan Huijiang Concrete Co., Ltd. and Shanghai Construction Group(SCG) are the major companies operating in the Asia-Pacific Ready Mix Concrete Market.
