USD 326.81 billion
Cement Market Size, Share, Growth Analysis, By Type(Portland, Blended, Others), By Application(Residential, Non-Residential), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2024 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Cement Market Insights
Global Cement Market size was valued at USD 326.81 billion in 2019 and is poised to grow from USD 343.48 billion in 2023 to USD 537.43 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).
The demand for residential construction has increased as the population has grown. Cement demand has risen dramatically over the world as a result of this. The growing need for public infrastructure and non-residential buildings, such as hospitals and healthcare centers, has created a Cement Market for products. As a result, the present market trend is increased demand from the booming construction industry.
The COVID-19 pandemic had a negative impact on operations and production in a number of countries due to government regulations restricting the movement of both people and goods, the spread of the COVID-19 pandemic has had a severe influence on the market. The epidemic has had a significant impact on numerous countries' production and activities. According to the Ministry of Industry and Information Technology of China, China's cement output was 769 million tonnes from January to May 2020, down 8.2% year on year. The output reached 249 million tonnes in May 2020, a rise of 8.6% year over year and a monthly high. Furthermore, the closure of manufacturing factories in the United States and Germany has had an impact on their operations. Construction output in India is expected to increase in 2019, according to Birlasoft Limited.
In the future years, the global cement market is expected to be driven by an increase in the demand for infrastructures in the education and healthcare sectors. Healthcare sectors in developing nations such as India, Malaysia, and Indonesia are expanding rapidly, which is expected to boost the market's growth in the next years. The massive growth of the residential sector in developing countries is expected to benefit the segment's growth. Whereas, water usage, carbon dioxide emissions, resource depletion, and other industrial operations are all causing environmental challenges in the global cement market.
US Cement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Non-Residential
Fastest Growth
Non-Residential
Growth Rate
5.1% CAGR
Global Cement Market 2021-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Cement Market Segmental Analysis
The Global Cement Market is segmented based on Type, Application, and Region. Based on the Type, the Cement Market is segmented into portland, blended, and others. Based on the Application, the Cement Market is segmented into residential and non-residential. Based on Region, Cement Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Cement Market Analysis by Type
Based on type, the global cement market is divided into three categories: portland, mixed, and others. Due to the rapidly growing demand from various applications, the blended segment is expected to have a significant share in the market. Because of its qualities, such as reduced water requirement, enhanced workability and pumpability, and reduced crack development due to thermal stress, the blended sector has the biggest Cement Market share. The blended section is made up of base portland to which other ingredients like limestone, slag, and pozzolana are added to produce other mixes. The rising demand for mixed kinds from industries such as construction, road construction, and mining are likely to boost the size of the cement market globally.
Portland is mostly used to make concrete, which is then utilized to make beams, panels, and megastructures like dams and roadways. It's also used in mortars and plasters, along with other materials like sand. Composite, tinted, quick-setting, low-alkali, and air-entraining cement are among the additional varieties. As a result, the rising demand for all of these types of diverse applications will significantly increase the market.
Cement Market Analysis by Application
On the basis of application, the global cement market is divided into residential and non-residential segments. The non-residential segment is predicted to be the most dominant over the forecast period. Due to rising infrastructure spending, the non-residential segment will be the largest share-holding segment of the market. Cement is utilized in this Cement Market for various uses such as road construction, dam construction, commercial establishments, industrial structures, stadium construction, and transportation hub construction. Demand for the commodity has increased as a result of rising urbanization and infrastructure developments. Furthermore, the industry is predicted to rise due to the growing need for hospitals and schools. The residential segment is expanding because of the increased global population and rising demand for residential space from developing countries in the Asia-Pacific, the Middle East, and Africa.
Global Cement Market By Application, 2021 (%)
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Cement Market Regional Insights
In 2021, Asia Pacific held the most dominating share in the global cement industry and this is likely to continue during the projection period. This is due to rising demand from developing countries such as China and India, as well as Southeast Asian countries. Construction and infrastructure activity growth is a major driver of this industry in the region. China, being the world's largest producer and consumer, is the most important contributor to regional market growth. The country's supremacy is linked to a number of causes, including the region's high population expansion and infrastructural building initiatives. Furthermore, the country's soaring demand for residential space will aid market expansion in China.
Other aspect influencing the growth of Cement Market in North America is the rising demand for public infrastructure. As a result of increased urbanization, Latin America will experience market growth. Other significant drivers that will drive the expansion of this market around the world are government efforts like housing schemes, the building of hospitals and educational facilities, and the development and maintenance of transportation infrastructure.
The Middle East and Africa are expected to rise significantly. This expansion is linked to rising infrastructural activity in the region, which has increased demand for the product. Another element propelling the Cement Market in the Middle East and Africa is its application in mining and oil exploration. The European market is expected to increase at a significant CAGR in the upcoming period.
Global Cement Market By Geography, 2021 - 2028
- Largest
- Fastest
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Cement Market Dynamics
Cement Market Driver
- Surging Construction Activities is Bolstering the Global Cement Market Growth: This is because of the increased need for residential spaces such as apartments and private bungalows, and the increasing population. Furthermore, the industry is predicted to rise faster as the demand for amenities in residential areas grows. In addition, the growing need for non-residential enterprises such as malls, airports, industries, roadways, and office buildings is predicted to fuel Cement Market expansion. The necessity for urbanization has arisen as a result of increased job opportunities and improved quality of life. Government measures to encourage construction and infrastructure development in developing countries will drive up demand even more. Moreover, the growing demand for precast items such as blocks, panels, and roof tiles will give a boost to global product consumption.
Cement Market Restraint
- Government Regulations Concerning Carbon Emissions will Limit Growth of Global Cement Industry: Limestone, chalk, shells, shale, clay, and silica sand are some of the raw materials utilized in the manufacturing process. Its manufacture has a number of negative consequences for the environment and human health. Inhaling dust particles can irritate the nose and throat, making it harder to breathe. Furthermore, the production of this commodity results in a significant amount of pollution. The cement industry, according to the US Environmental Protection Agency, is the third-largest industrial polluter, emitting more than 500 kilotons of nitrogen oxide, sulfur dioxide, and carbon monoxide per year. As a result of these problems, governments place numerous environmental rules on the manufacturing process. As a result, market growth is expected to be limited by this factor.
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Cement Market Competitive Landscape
The Global cement manufacturers are located all over the world. It's resulting in a more diverse market structure. Producers in North America and Europe are striving to expand their presence in China and other Asian Pacific countries in order to boost their Cement Market positions and propel their businesses forward. The market's major players have built significant regional presences, distribution systems, and product offerings. Key players' implemented tactics, such as acquisition, new product development, and zero-carbon construction materials activities, are likely to grow their Cement Market presence and efficiently satisfy their customers' needs. By 2050, HeidelbergCement, for example, expects to make CO-neutral concrete.
Cement Market Top Player's Company Profiles
- LafargeHolcim Ltd.
- Anhui Conch Cement Co., Ltd.
- China National Building Material Company Limited (CNBM)
- HeidelbergCement AG
- CEMEX S.A.B. de C.V.
- China Resources Cement Holdings Limited
- Buzzi Unicem SpA
- Eurocement Holding AG
- Taiheiyo Cement Corporation
- Dangote Cement Plc
- UltraTech Cement Limited
- Vicat S.A.
- CRH plc
- Taiwan Cement Corporation
- Italcementi S.p.A. (a subsidiary of HeidelbergCement AG)
- Shree Cement Limited
- JK Cement Limited
- Ambuja Cements Limited (a subsidiary of LafargeHolcim Ltd.)
- ACC Limited (a subsidiary of Ambuja Cements Limited)
- Siam Cement Public Company Limited (SCG)
Cement Market Recent Developments
- In May 2022, the Adani group announced that it has acquired a controlling stake in Switzerland-based Holcim AG's cement businesses in India for $ 10.5 billion.
- In October 2021, Votorantim Cimentos through its Spanish subsidiary announced the acquisition of Cementos Balboa which is a modern integrated cement plant located in Alconera, Spain.
Cement Key Market Trends
- Increasing green cement adoption will boost growth prospects. Cement Market expansion will be aided by the increasing use of green cement in the construction of environmentally friendly and sustainable structures. The product is created utilizing a carbon-negative manufacturing technology that minimizes pollution during unit operations as part of an effort to mitigate the harm presented by emissions.
- Lowering carbon emissions during manufacturing is a long-term strategy to address severe environmental issues by. Hima Cement, a LafargeHolcim affiliate, launched Fundi, a low-carbon masonry product that may be used in bricklaying, plastering, and mortar works, in 2021. Furthermore, the UN Environment Program (UNEP) advocates for the development and use of new environmentally sustainable and cost-effective products. Hence, such factors will flourish the demand for green cement in the coming years. This is likely to create a wide scope for the growth of the global cement industry in the upcoming years.
Cement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the need for residential spaces such as apartments and private bungalows, and the growing population have been major drivers for the market for the given forecasted period. Furthermore, the industry is predicted to rise faster as the demand for amenities in residential areas grows. In addition, the growing need for non-residential enterprises such as malls, airports, industries, roadways, and office buildings is predicted to fuel global cement market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 326.81 billion |
| Market size value in 2031 | USD 537.43 billion |
| Growth Rate | 5.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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