Ready-Mixed Concrete And Factory Made Mortar Market

The global market for ready-mixed concrete and factory made mortars is anticipated to see growth in both volume and value over the next eight years. A detailed analysis of consumption, production, imports, and exports trends from 2012 to 2022 reveals fluctuations in various countries. China leads in consumption and production, while Germany saw the highest growth in market size. Import and export patterns also show notable changes with countries like Ireland and Greece recording high growth rates. Average prices for imports and exports are on the rise, with some countries experiencing faster growth rates than others.

Market Forecast

Driven by increasing demand for ready-mixed concrete and factory made mortars worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 4,919M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $1,983.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ready-Mixed Concrete And Factory Made Mortars

In 2022, after eight years of growth, there was decline in consumption of ready-mixed concrete and factory made mortars, when its volume decreased by -4.1% to 4,397M tons. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.2% against 2013 indices. As a result, consumption reached the peak volume of 4,584M tons, and then declined modestly in the following year.

The value of the market for ready-mixed concrete and factory made mortars worldwide declined to $1,566B in 2022, dropping by -2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $1,607.7B in 2021, and then declined slightly in the following year.

Consumption By Country

China (1,060M tons) remains the largest ready-mixed concrete and factory made mortar consuming country worldwide, accounting for 24% of total volume. Moreover, consumption of ready-mixed concrete and factory made mortars in China exceeded the figures recorded by the second-largest consumer, India (425M tons), twofold. Japan (243M tons) ranked third in terms of total consumption with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +5.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.4% per year) and Japan (+1.2% per year).

In value terms, the largest ready-mixed concrete and factory made mortar markets worldwide were Japan ($269.3B), India ($254.3B) and China ($226.1B), with a combined 48% share of the global market. Indonesia, Brazil, Iran, Mexico, Turkey, the United States, Germany, Norway, France and Italy lagged somewhat behind, together comprising a further 23%.

Germany, with a CAGR of +23.2%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while mortars for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of ready-mixed concrete and factory made mortars was registered in Norway (21 ton per person), followed by Turkey (2.7 ton per person), Japan (1.9 ton per person) and France (1.4 ton per person), while the world average per capita consumption of ready-mixed concrete and factory made mortar was estimated at 0.6 ton per person.

From 2012 to 2022, the average annual rate of growth in terms of the per capita consumption of ready-mixed concrete and factory made mortars in Norway amounted to +19.8%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Turkey (+3.5% per year) and Japan (+1.5% per year).

Production

World Production of Ready-Mixed Concrete And Factory Made Mortars

In 2022, production of ready-mixed concrete and factory made mortars decreased by -4.1% to 4,398M tons for the first time since 2013, thus ending a eight-year rising trend. Overall, the total production indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +55.3% against 2013 indices. The growth pace was the most rapid in 2021 when the production volume increased by 16% against the previous year. As a result, production reached the peak volume of 4,585M tons, and then shrank slightly in the following year.

In value terms, production of ready-mixed concrete and factory made mortars shrank modestly to $1,479.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Global production peaked at $1,538.1B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

China (1,060M tons) remains the largest ready-mixed concrete and factory made mortar producing country worldwide, accounting for 24% of total volume. Moreover, production of ready-mixed concrete and factory made mortars in China exceeded the figures recorded by the second-largest producer, India (425M tons), twofold. The third position in this ranking was held by Japan (243M tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +5.4%. The remaining producing countries recorded the following average annual rates of production growth: India (+4.4% per year) and Japan (+1.2% per year).

Imports

World Imports of Ready-Mixed Concrete And Factory Made Mortars

After two years of growth, purchases abroad of ready-mixed concrete and factory made mortars decreased by -3.4% to 4.5M tons in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 7.5%. As a result, imports reached the peak of 4.7M tons, and then declined in the following year.

In value terms, imports of ready-mixed concrete and factory made mortars fell to $1.2B in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, imports reached the peak of $1.2B, leveling off in the following year.

Imports By Country

In 2022, Switzerland (878K tons), distantly followed by France (358K tons), Luxembourg (344K tons), Germany (295K tons) and Austria (253K tons) were the main importers of ready-mixed concrete and factory made mortars, together creating 47% of total imports. The following importers - Belgium (157K tons), Slovakia (145K tons), the United States (131K tons), Ireland (122K tons), the Netherlands (112K tons), Singapore (107K tons), the Czech Republic (90K tons) and the UK (80K tons) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ready-mixed concrete and factory made mortar imports into Switzerland stood at +1.3%. At the same time, the UK (+14.4%), Germany (+9.0%), Luxembourg (+7.6%), Ireland (+2.8%), Singapore (+2.1%) and Slovakia (+1.8%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +14.4% from 2012-2022. Belgium and the United States experienced a relatively flat trend pattern. By contrast, Austria (-4.1%), France (-5.4%), the Czech Republic (-5.4%) and the Netherlands (-9.7%) illustrated a downward trend over the same period. While the share of Luxembourg (+3.8 p.p.), Germany (+3.7 p.p.) and Switzerland (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the Czech Republic (-1.6 p.p.), Austria (-3.2 p.p.), the Netherlands (-4.6 p.p.) and France (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($109M), the United States ($80M) and France ($71M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 22% of global imports. The Netherlands, Belgium, Germany, the UK, Austria, Luxembourg, Ireland, the Czech Republic, Slovakia and Singapore lagged somewhat behind, together accounting for a further 30%.

Ireland, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for ready-mixed concrete and factory made mortars amounted to $264 per ton, growing by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 13%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($609 per ton), while Luxembourg ($97 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+15.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ready-Mixed Concrete And Factory Made Mortars

In 2022, after three years of growth, there was significant decline in shipments abroad of ready-mixed concrete and factory made mortars, when their volume decreased by -5.7% to 5.2M tons. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 14%. Over the period under review, the global exports of reached the maximum at 5.5M tons in 2021, and then reduced in the following year.

In value terms, exports of ready-mixed concrete and factory made mortars reduced slightly to $1.3B in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. As a result, the exports attained the peak of $1.3B, and then reduced modestly in the following year.

Exports By Country

In 2022, Germany (1.1M tons), distantly followed by Italy (568K tons), Belgium (559K tons), France (352K tons), Spain (345K tons) and Poland (267K tons) represented the major exporters of ready-mixed concrete and factory made mortars, together constituting 61% of total exports. China (193K tons), the United States (182K tons), the UK (143K tons), Malaysia (121K tons), Austria (105K tons), Greece (103K tons) and Canada (102K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +14.7%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($312M), Italy ($180M) and Spain ($77M) were the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. The United States, Canada, Poland, Belgium, France, China, Greece, the UK, Austria and Malaysia lagged somewhat behind, together accounting for a further 35%.

Greece, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for ready-mixed concrete and factory made mortars stood at $250 per ton in 2022, growing by 3.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.1%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($702 per ton), while Belgium ($101 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform