Wet Mix Concrete Market Size (2023 – 2030)

The Global Wet Mix Concrete Market is valued at USD 473 billion in 2023 and is projected to reach a market size of USD 921.74 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 10%.

Wet mix concrete, also known as ready-to-mix concrete, is a type of concrete that is added to the construction plant and is then delivered by a cement truck. It is widely used in the construction process for buildings, commercial and industrial settings, infrastructure projects, road construction, and others. Moreover, it is a popular choice today in the construction industry because of the numerous benefits it offers. These include consistency in quality, less time-consuming, minimal wastage, rich in quality, cost-effectiveness, and others. Furthermore, advancements in the construction industry have developed the wet mix concrete market and induced manufacturers to produce and manufacture quality and environment-friendly mixes. Furthermore, the future for this market holds positive with rising trends in sustainability materials, technological advancements such as digitization and automation of concrete processing, quality control, and others, and rapid urbanization in emerging nations.

Key Market Insights:

As per the Ministry of Statistics and Programme Implementation in India, more than 346 infrastructure projects are ongoing in the country and cost overruns, with an investment of Rs. 150 crore or more.

Further, India’s cement production is anticipated to increase by 12% YoY in the year 2022. Furthermore, India Cements Limited and Birla Corporation Ltd are amongst the leading players in the construction industry in the years 2022 and 2023.

Furthermore, as per the Global Cement and Concrete Association, 14.0 billion metric tonnes of concrete were produced globally in the year 2020.

Furthermore, as per Edge Buildings Report, there are approximately 70% of green building developers in India.

Wet Mix Concrete Market Drivers:

Environmental concerns drive the demand for wet mix concrete in the market.

Rising environmental concerns regarding the impact of synthetic materials in concrete have shifted the demand towards eco-friendly materials. Wet mix concrete or ready-to-mix concrete is produced by controlling the batching of plants that enable manufacturers to prepare an accurate mixture of concrete and minimize wastage. This in turn reduces carbon emissions as opposed to on-site concrete mixing, which causes pollution and excessive energy consumption. Furthermore, wet mix concrete is prepared from alternative materials to cement such as fly ash, slag, silica fume, and others that help in reducing carbon footprint and increase the durability of the concrete. In addition, on-site construction impacts such as dust, noise, air, and land pollution are reduced considerably. Moreover, trends in green building and construction have increased the usage of wet mix concrete in the construction industry.

Advancement in technology has boosted the market for wet mix concrete.

Technological advancements in the construction industry have transformed the production, delivery, manufacturing, and application of building materials. Wet mix concrete is prepared by batching plants, with the advent of automation technologies, manufacturing plants have started using automated batching and mixing procedures that enable manufacturers to automate the measurement and mixing of concrete materials in fixed proportions. Further, AI-enabled and automatic quality control machines have made it possible for manufacturers to automate the measuring of temperature, air content, and concrete mixture, and identify any defects to meet the regular standards of concrete. Further, remote monitoring and real-time tracking have made it easier for the logistics to oversee the schedule of delivery of wet mix concrete to the desired location and reduce delivery delays. Further, growing trends in simulation and computer vision have enabled engineers to design mixes using computer simulation and modeling tools for specific project requirements.

Wet Mix Concrete Market Restraints and Challenges:

Environmental concerns can decrease the market demand for wet-mix concrete. Concrete production contributes to some amount of carbon footprint, which can decrease its market demand in the construction industry.

Furthermore, expensive material cost for organic and admixtures, which helps in increasing the effectiveness of wet mix concrete can decrease the demand for wet mix concrete in the market.

Wet Mix Concrete Market Opportunities:

Sustainability trends in building and construction materials are anticipated to develop the market for wet mix concrete, as it is prepared by using recycled materials and by-products of waste or residues, making it a green concrete material for the construction industry. Further, automation in processing wet mix concrete has enabled manufacturers to reduce the chances of wastage and produce quality mixes. Moreover, the increase in infrastructure projects, especially in developing nations such as Asian-Pacific countries like India and China, is further boosting the market demand for wet mix concrete for building roads, buildings, and government infrastructure projects.

WET MIX CONCRETE MARKET REPORT COVERAGE:

Wet Mix Concrete Market Segmentation: By End-Use

• Residential

• Commercial

• Industrial

• Others

In 2022, based on market segmentation by end-use, the residential segment occupies the highest share of about 25.4% in the market. This sector is amongst the major consumers of wet mix concrete. Wet mix concrete is used for building single/independent houses, apartments or buildings, condominiums, and other residential settings. Moreover, it is used to make the foundation of the building as the wet mix is durable in nature and offers strength to the building’s foundation. Additionally, the mix is also used in making slabs, walls, columns, beams, and other types of structural components of the buildings.

The industrial segment is the fastest-growing segment during the forecast period. Wet mix concrete due to its ability to withstand large volumes of structure and durability, is increasingly used in the construction of heavy structures such as manufacturing plants, industrial facilities, warehouses, processing units, and others. Further, it can withstand high chemical exposure and harsh construction operations, making it a suitable choice for building industrial flooring, foundations, storage areas, and others.

Wet Mix Concrete Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2022, based on market segmentation by region, Asia-Pacific occupies the highest share of about 29% in the market. Rapid urbanization due to an increase in population, an increase in infrastructure projects by the government, and government initiatives to support the development of sustainable construction materials have contributed to the growth of wet mix concrete in the region.

North America is the fastest-growing region during the forecast period. Technological advancements in the manufacturing and processing of wet mix concrete such as the use of AI-enabled equipment and growing sustainability concerns have propelled the growth of wet mix concrete in the region.

COVID-19 Impact Analysis on the Global Wet Mix Concrete Market:

The pandemic hurt the wet concrete mix industry. Due to the lockdown, construction activities were stopped, which resulted in a decline in demand for wet-mix concrete in the market. Further, due to supply chain disruptions and travel restrictions transfer of wet mix concrete to the construction site was halted, resulting in a delay in the construction process. Similarly, the government shifted its budget preferences towards requirements in the economy such as in the healthcare sector, thus deeply impacting the building and construction industry.

Latest Trends/ Developments:

The global Wet Mix Concrete Market is reasonably split and fragmented with the existence of several global companies. These players are motivated to achieve higher market share by implementing different strategies, such as acquisitions, partnerships, and investments. The construction industry is continuously developing with growing trends in sustainable materials such as preparing wet mixes using cement alternatives like fly ash and slag. Further, the development of advanced admixtures has enhanced the properties of wet mix concrete and increased its durability. In addition, the incorporation of smart technologies such as AI remote monitoring and automatic measurement of mixes, has enhanced the workability of these mixtures and reduced wastage.

In May 2023, ACC Ltd, an Adani Group company, launched the Bagcrete concrete solution, which is a pre-blended mixture of cement, sand, and aggregates and is meant to provide the best compressive strength and exceptional workability retention. Moreover, the product is available in two variants – Wet-mix and dry-mix. Wet-mix version is a pre-mixed and ready-to-use concrete that does not require mixing and can be used in places where water is scarce.

Key Players:

1. Ultra Tech Cement

2. Godrej

3. ACC Ltd (Adani group)

4. RMC India

5. Barney & Dickenson

6. Vulcan Materials Company

7. Vicat SA

8. Hanson Cement Ltd

9. Buzzi Unicem

10. CEMEX SAB de CV

11. Summit Materials