Concrete Market
Report ID: SQMIG15F2194
Report ID: SQMIG15F2194
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Report ID:
SQMIG15F2194 |
Region:
Global |
Published Date: February, 2025
Pages:
173
|Tables:
0
|Figures:
0
Global Concrete Market size was valued at USD 205.46 Billion in 2024 and is poised to grow from USD 216.14 Billion in 2025 to USD 324.23 Billion by 2033, growing at a CAGR of 5.2% during the forecast period (2026–2033).
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 - 2026-2033
Global Market Size
USD 195.3 billion
Largest Segment
Residential
Fastest Growth
Non-Residential
Growth Rate
5.2% CAGR
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Global Concrete Market is segmented by Concrete Type, Application, End-User Industry and region. Based on Concrete Type, the market is segmented into Ordinary Concrete, Reinforced Concrete, Ready-Mix Concrete, Precast Concrete, Green Concrete, Aerated Concrete and Others. Based on Application, the market is segmented into Residential and Non-Residential. Based on End-User Industry, the market is segmented into Roads & Highways, Tunnels, Dams & Power Plants, Mining and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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.
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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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.
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Infrastructure Development and Urbanization
Green Building and Sustainability Initiatives
Carbon Emissions and Environment Impacts
Supply Constraints on raw materials
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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.
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 2024 | USD 205.46 Billion |
| Market size value in 2033 | USD 324.23 Billion |
| Growth Rate | 5.2% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| 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
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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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