Global Cement Market to Reach USD 614.88 billion by 2032

Cement refers to a fine mineral powder prepared by grinding calcined limestone and clay. This powder is then mixed with water and poured to set as a solid mass. Cement exhibits various cohesive & adhesive properties due to which it is extensively used as a bonding material all around the globe. It is available in different grades and currently represents one of the crucial raw materials in the construction industry.

A majority of the cement produced worldwide is consumed for domestic purpose while only 3% of the global production is exported to other countries. According to a new report by Expert Market Research, the global cement market attained a value of USD 383.02 billion in the year 2023. The market is expected to grow at a CAGR of 5.4% between 2024 and 2032 to reach USD 614.88 billion by 2032.

The growth of the market can be accredited to a number of forces. Since the revival of the construction industry, a surge in the infrastructural activities has been witnessed, in both developed and developing countries. Owing to the rising populace coupled with increasing urbanisation rates in developing countries, there has been a huge demand for shelter and improved infrastructure. Moreover, easy availability of the raw materials used for producing cement along with its low-cost have also prompted a number of manufacturers to invest into the cement market, thereby, stimulating the market growth. 

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Key findings from the report:

• Various types of cement available are Blended and Portland, among others.

• The major end-uses of cement include residential, commercial/institutional/industrial, and infrastructural. It is widely used in the construction of roads, bridges, pavements, concrete masonry units and large-scale infrastructural projects.

• Region-wise, China dominated the market with the majority of market share. This can be attributed to a significant increase in the number of business and residential installations in the country. China was followed by India.

• Being highly competitive in nature, the global cement market is surrounded by a number of small and big players. Some of these include Holcim Limited, China National Building Material Group Co., Ltd., Ultratech Cement Limited, Grasim Industries Limited, HeidelbergCement AG, The Siam Cement Group, Shree Cement Limited, CRH plc, CEMEX S.A.B. de C.V., Adani Group, Buzzi Unicem SpA, and Titan Cement International SA, among others.

• In order to attain higher profitability, these players are targeting developing regions by expanding their production and geographical reach.

Expert Market Research has analysed the global cement market according to type, end-use, major regions and top players:

Market breakup by Type

• Blended

• Portland

• Others

Market breakup by End-use

• Residential

• Commercial/Institutional/Industrial

• Infrastructural

Market breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Top players

• Holcim Limited

• China National Building Material Group Co., Ltd.

• Ultratech Cement Limited

• Grasim Industries Limited

• HeidelbergCement AG

• The Siam Cement Group

• Shree Cement Limited

• CRH plc

• CEMEX S.A.B. de C.V.

• Adani Group

• Buzzi Unicem SpA

• Titan Cement International SA

• Others

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