The global cement market size is expected to reach USD 682.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.8% during the forecast period. The market is anticipated to register rapid growth due to growing infrastructural development across the globe.
The global infrastructure investment is dominated by countries such as India, China, and the U.S. Soaring need for infrastructure upgrade and modification in the U.S. is likely to fuel the demand for cement over the forecast period.
Demand for residential properties is growing due to increasing urbanization and rising household income. In addition, improving economic conditions in countries such as India and China is stimulating the demand for retail and commercial spaces. Both countries are estimated to observe a remarkable rise in establishments in urban areas over the forecast period, thus providing a fillip to the cement market.
Aditya Birla Ultratech, CNBM International Corporation, CEMEX S.A.B. de C.V., HeidelbergCement AG, Italcementi, InterCement, LafargeHolcim, SCG, Taiheiyo Cement Corporation, Titan Cement Group, Votorantim, Mitsubishi Cement Corporation, Alamo Cement Company, Argos USA Corporation, ESSROC Cement Corporation, Drake Cement LLC, and Anhui Conch Cement are some of the prominent companies operating in the market.
Portland cement accounted for close to 90.0% of the overall revenue in 2016. Properties such as high strength and durability exhibited by this type are likely to trigger its demand over the forecast period
On the basis of product, the others segment is expected to register a CAGR of 6.6% over the forecast period. Prices of other cements are expected to decline in the coming years, which, in turn, is expected to drive the market.
Supportive regulations and favorable government policies, such as Housing for All and smart cities in India, are expected to trigger the demand for cement in residential and commercial applications in developing and underdeveloped countries
The Cement Action Plan is a part of the World Business Council for Sustainable Development´s (WBCSD) Low Carbon Technology Partnerships initiative (LCTPi) to accelerate the deployment of low-carbon solutions in the cement industry. Policies and government initiatives related to this plan are projected to augment the market over the forecast period.
Regional expansions and R&D are the key strategies adopted by major players to strengthen their position in the cement market as smaller companies are keen to collaborate with key players to strengthen their foothold in the global arena
In July 2014, Aditya Birla Ultratech acquired 2 units of Jaiprakash Associates in order to increase the firm's production capacity to 100 metric tons per year by 2020.
Grand View Research has segmented the global cement market on the basis of product, application, and region:
Cement Product Outlook (Volume, Million Tons;Revenue, USD Million, 2014 - 2025)
Cement Application Outlook (Volume, Million Tons;Revenue, USD Million, 2014 - 2025)
Cement Regional Outlook (Volume, Million Tons;Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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