The global cement market size is expected to reach USD 682.3 billion by 2025, registering a CAGR of 7.8%, as per a new report by Grand View Research, Inc. The market is anticipated to register rapid growth due to growing infrastructural development across the globe.
The global infrastructure development investments are is dominated by countries such as China, India, and the U.S. Furthermore, rising need for sustainable infrastructure upgrades and renovations in the U.S. is likely to fuel the global demand for cement during the forecast period.
Demand for residential properties is booming due to unprecedented urbanization and growing household income. In addition, enhanced economic conditions in developing countries such as India and China is augmenting the demand for both retail and commercial spaces. India and China are projected to observe an outstanding rise in urbanization over the forecast period, thus fueling the cement market.
Cement Market Report Highlights
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On the 10th of December 2020, the World Cement Association announced today it has appointed two new Directors: Mahendra Singhi Managing Director & CEO of India’s Dalmia Cement, and Roland van Wijnen, CEO of Africa’s PPC Ltd., to reduce the carbon footprint of cement operations and define the strategies & objectives of organizational collaborations
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On the 15th of January 2021, CEMEX’s Corporate Venture Capital announced its investment in Modulous, a well-known company with a robust offsite construction system, equipped with a digital platform, to facilitate the high-speed construction of sustainable, quality, and affordable homes. This investment us anticipated to transform the construction activities with a unique modular building solution
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Portland cement dominated the product segment was valued at USD 316.5 billion in 2016. The growth can be attributed to its widespread usage in the construction of commercial, residential, and industrial infrastructure
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Non-residential/Infrastructure sector dominated the application segment, accounting for a share of 66.0% of the overall revenue. India, China, and Japan are propelling the demand for cement for infrastructure projects
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Asia Pacific is likely to register a CAGR of 5.2% by 2025. Megaprojects including China’s One Belt and One Road (OBOR) infrastructure program is stirring up the demand for cement and will continue their growth during the forecast period
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Cement Market Segmentation
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)
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Portland
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Others
Cement Application Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)
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Residential
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Non-residential/Infrastructure
Cement Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Europe
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Germany
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Russia
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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Saudi Arabia
List of Key Players of Cement Market
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Aditya Birla Ultratech
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CNBM International Corporation
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CEMEX S.A.B. de C.V.
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HeidelbergCement AG
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Italcementi
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InterCement
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LafargeHolcim
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SCG
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Taiheiyo Cement Corporation
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Titan Cement Group
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Votorantim
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Anhui Conch Cement
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Green Cement Market – https://www.grandviewresearch.com/industry-analysis/green-cement-market
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