The global concrete market size is anticipated to reach USD 2.28 billion by 2030, growing at a CAGR of 3.8% during the forecast period, according to a new report by Grand View Research, Inc. The global market is primarily driven by rapid urbanization and the expanding global population, which has significantly increased the demand for residential, commercial, and industrial infrastructure. Emerging economies, particularly in Asia and Africa, are witnessing a surge in urban migration, prompting governments and private sectors to invest heavily in housing, transportation networks, and public facilities. As cities grow and modernize, concrete remains the preferred building material due to its strength, availability, and versatility, further reinforcing its critical role in urban development.
Infrastructure development projects are another major growth driver of the concrete industry. Across the globe, massive investments are being channeled into constructing highways, bridges, tunnels, dams, and ports to support economic growth and improve connectivity. Concrete’s high compressive strength and durability make it an ideal choice for these large-scale projects. Governments are increasingly launching national infrastructure plans to stimulate economic recovery post-pandemic, creating sustained demand for concrete products and solutions.
Technological advancements in concrete production have also contributed to the market’s expansion. Innovations such as high-performance concrete, self-healing concrete, and carbon-reducing cement blends are gaining traction due to their superior performance and sustainability benefits. These advancements are not only improving construction efficiency and lifespan but are also addressing growing concerns over the environmental impact of traditional cement production. This shift towards greener alternatives is encouraging broader adoption across regions focused on sustainable development.
Environmental regulations and sustainability initiatives are influencing market dynamics by encouraging the development of eco-friendly concrete materials. Governments and international organizations are implementing stricter regulations to reduce greenhouse gas emissions from the cement and concrete sectors. In response, manufacturers are adopting alternative raw materials, such as fly ash and slag, and incorporating carbon capture technologies. These developments are reshaping the market by promoting innovation and driving the transition toward a more sustainable construction industry.
Additionally, increased investment in renewable energy and smart city projects is creating new growth avenues for the concrete industry. Wind farms, solar power plants, and energy-efficient infrastructure require high-quality concrete for foundations, towers, and other supporting structures. Additionally, smart cities rely on durable and adaptable materials to integrate digital technologies within the built environment. As these trends continue to evolve, they are expected to sustain long-term demand for concrete across various sectors worldwide.
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Concrete Market Report
Concrete Market Report Highlights
- Based on application, the structural components segment led the market and accounted for the largest revenue share of 41.7% in 2024, driven by the rapid expansion of infrastructure development projects worldwide.
- Based on end use, the residential segment dominated the market and accounted for the largest revenue share of 38.4% in 2024, driven by increasing urbanization and rising population levels, which fuel the demand for new housing developments and infrastructure.
- Asia Pacific dominated the concrete industry and accounted for the largest revenue share of about 38.8% in 2024, driven by rapid urbanization and industrialization across emerging economies such as India, China, and Southeast Asian nations.
Concrete Market Segmentation
Grand View Research has segmented the global concrete market based on application, end use, and region:
Concrete Application Outlook (Revenue, USD Million, 2018–2030)
- Structural Components
- Pavements, Roadways, and Bridges
- Dams & Water Infrastructure
- Others
Concrete End Use Outlook (Revenue, USD Million, 2018–2030)
- Residential
- Commercial
- Industrial
- Infrastructural
