The Ready-Mix Concrete Manufacturing industry in Canada exhibited significant fluctuations over the past decade. After a period of decline from 2013 to 2015, the industry rebounded with substantial year-on-year growth, peaking notably in 2017. The value-added saw some volatility but has generally trended upward, with 2023 marking a value of 2.454 billion Canadian dollars. Year-on-year growth rates in recent years stabilized, ranging from 1.99% in 2020 to 5.0% in 2021. From 2018-2023, the industry grew at a compound annual growth rate (CAGR) of 5.17%.
Future projections forecast the value-added reaching 2.894 billion Canadian dollars by 2028, with an expected CAGR of 2.61% from 2023 onwards, indicating steady but moderate growth. The five-year forecast growth rate stands at 13.77% by 2028.
Future trends to watch for include the impact of infrastructure investments, environmental regulations, and advances in construction technology that could drive demand for ready-mix concrete. Monitoring market conditions and policy shifts will be crucial for anticipating industry performance.
