GCC READY-MIX CONCRETE MARKET

GCC Ready-Mix Concrete Market is projected to grow at CAGR of 4.5% till 2031 owing to increased demand from the construction industry. The Ready-mix concrete market will see substantial growth in GCC over the coming years, due to the promising outlook for sustained development in the construction industry in this region. The region is witnessing various projects in various stages of development, including the construction of commercial and residential real estate, transformative efforts to modernize transport and water systems, scaling up oil and gas output capacity, and other large-scale industrial projects.

GCC Ready-Mix Concrete Market Overview

Ready-mix concrete offers a mixture of cement, water, and other materials like sand or stone which is batched from a central production site and then delivered to the job sites. It can be implemented in various applications, including in the construction process of infrastructure, industrial, residential, and others. Meanwhile, based on product type, there are several types of ready-mix concrete, such as shrink mixed, central mixed, and transit mixed. 

Different from site-mixed concrete, which is prepared at the construction site, ready-mix concrete does not need the use of machinery such as weigh batch mixer at the job site. In the application process, ready-mix concrete can be found on multi-level buildings due to its efficiency and minimal tools. In addition, this type of concrete does not need extra storage capacity, whereas site-mixed concrete needs to store the mixture on-site.

Major GCC RMX Market Drivers and Emerging Trends

There has been a growing demand for this type of concrete as it offers many advantages, including streamlined construction processes, minimize maintenance costs, and provide a greater quality mixture, which will drive more interests for the ready-mix concrete in the gulf region.

 In the GCC region, Saudi Arabia and the United Arab Emirates will be the main focus for construction industry operations, as Saudi Arabia has robust market opportunities along with tremendous wealth and comprehensive development frameworks. The country also lays out a revolutionary initiative called Vision 2030. The construction sector will be essential as Vision 2030 puts emphasis on mega cities development and upgrading infrastructure, which will further propel the expansion of ready-mix concrete in the region. This initiative may potentially raise the contribution of construction sector to the country’s GDP to 8.8 percent by 2030, as the investment suggests significant growth opportunity in the construction industry in the next 15 years. 

The government of Saudi Arabia is also increasingly minimizing reliance on oil-based income and shifting focus towards industrial and construction sector development, which will further drive the market’s growth. Rapid urbanization and increasing need for affordable housing solutions in the region may also foster the growth of ready-mix concrete market as there will be a surge in construction projects. This market can also see an opportunity ahead, as there is an increasing demand for more environmentally friendly and sustainable products.

Nevertheless, as there will be sufficient capital investment needed to build RMC plant, it will be a challenge especially for countries with limited financial resources. In addition, the complexity of transferring concrete from the mixer to multiple work sites can also further hamper the growth of this market.

Segments covered in the Report:

The GCC Ready-Mix Concrete Market has been segmented on the basis of Application. Based on the Application the market is segmented into Residential, Infrastructure, Industrial, Industrial Utilities.

Market Segmentation

GCC Ready-Mix Concrete Market by Application

Residential

Infrastructure

Industrial

Industrial Utilities