Cement market industry is projected to grow from USD 334.97 Billion in 2022 to USD 505.34 billion by 2030, (CAGR) of 5.27 % -MRFR
Research Reports
Jun 21, 2023
Cement market industry is projected to grow from USD 334.97 Billion in 2022 to USD 505.34 billion by 2030, (CAGR) of 5.27 % -MRFR
Global Cement Market – Overview
Cement Market Size was valued at USD 324.24 billion in 2021. The Cement market industry is projected to grow from USD 334.97 Billion in 2022 to USD 505.34 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.27 % during the forecast period (2022 – 2030). The burgeoning construction sector globally is fueling the market growth for cement. Market reports connected with the construction industry have been made accessible by Market Research Future who publishes reports on other sectors that have been currently published along with a reports on this industry.
The industry which is an indicator of economic health is showing ascendant levels of growth in the recent years. The rising levels of construction projects being launched worldwide are spurring the market’s expansion. Due to these market developments manufacturers are boosting their production capacities and engaging in research and development to back this growth phase of the cement market. The rising level of investment by individual in multiple properties is another factor powering the growth of the market.
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Segmental Analysis
The segmentation of the global cement market is carried out on the basis of type region and application. On the basis of Type, the cement market globally has been segmented into rapid low heat cement, high alumina cement, hardening cement, colored cement, white cement, hydrographic cement and other. On the basis of application, the cement market globally is divided into construction and infrastructure. The regions that are a part of the market are North America, Asia Pacific, Europe and rest of the world.
Key Companies in the Cement market includes
- Shree Cement (India)
- Inter Cement (Brazil)
- Votorantim (Brazil)
- Titan Cement (Greece)
- TAIHEIYO CEMENT CORPORATION (Japan)
- SCG (Thailand)
- Sunnsy (China)
- Mitsubishi Materials Corporation (Japan)
- Aditya Birla Management Corporation Pvt. Ltd (India)
- Wonderful Sky Financial Group Limited (China)
- CEMEX S.A.B. de C.V. (Mexico)
- BBMG Corporation (China), among others
Detailed
Regional Analysis
The regional analysis of the market consists of regions such as North America, Asia Pacific, Europe and rest of the world. The Cement market for the most part depends on the global construction and building activities. The cement market is highly driven by applications and systems are getting popularity from various end user. The Asia Pacific region is likely to be responsible for the largest portion, in terms of value, of the cement market globally. This can be largely attributed to the construction and expansion of infrastructure. The government initiatives such as growth of smart cities are giving a huge boost to the sector. The North American and European region are followed by the Asia Pacific region. An escalating number of limestone detections in the east and the simplicity of the transport system have led to the speedy growth of cement industry.
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Competitive Analysis
The variety witnessed in terms of strategy creation and execution is changing the development pace of the market. The gaps in the market are filled owing to the carrying out of appropriate supply chain strategies. Additionally, the expansion of new products and services will add further momentum to the market development. The framework for growth plans has equipped the market for possible new entrants. The development in the products and services is the principal factor increasing the market’s efficiency and controlling the trends that are gaining distinction in the market. The influential success factors and players’ preferences are slowly but surely mounting by the strategies being used by market contenders. The key competitors working in the market for cement globally are Holcim Ltd, Lafarge, Anhui Heidelberg Cement AG, Conch Cement Company Ltd, China National Building Material Company Ltd., CEMEX S.A.B. de C.V., Jidong Development Group Co. Ltd., Mitsubishi Materials Corporation, UltraTech Cement Limited, and Shanshui Cement Group Ltd.
Industry Updates:
Sep 2018 Cemex is planning to restart commercial production on the second kiln at its South Ferriby cement plant in November 2018. The company says that this investment highlights its confidence in the long-term potential of the UK building materials market. Once fully ready both kilns at the plant will give it a production capacity of 0.7Mt/yr.
Sep 2018 Dangote has unveiled its new BlocMaster Cement, describing it as extra strong and ideal for block moulding in Nigeria. It had been tested and approved by builders throughout Nigeria making it particularly useful during the rainy season. BlocMaster is reportedly suitable for all construction purposes and Dangote hopes it will help address the issue of building collapse in Nigeria.
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