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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cement Market Share
Portland cement is high in demand due to rising demand for cement in the construction of railway
Portland cement accounts for a heathy portion of the market share, owing to its increasing incorporation in urban cities to facilitate the construction of bridges, pavements, sidewalks, and reinforced concrete buildings, among others. In addition, the rising demand for cement in the construction of railway structures is contributing to the global cement market expansion.
Blended cement, on the other hand, is a mix of ordinary Portland cement (OPC) and supplementary materials like fly ash, slag, or silica fume. It offers enhanced workability, strength, durability, and chemical resistance to concrete structures. Emerging markets in the Asia Pacific region, including India, Vietnam, Malaysia, the Philippines, and Nigeria, are witnessing a surge in demand for blended cement due to their robust construction activities.
Residential segment holds a significant market share due to rise in number of houses to accommodate increasing population
Cement is widely used to build strong, durable, and versatile structures as well as to bolster the productivity of various end use sectors. As per cement market analysis, the rapid expansion of industrial, institutional, and commercial sectors across the emerging economies is fuelling world cement production.
In terms of end-use, the residential segment is likely to account for a decent cement market share. Apart from structural applications, cement can augment the aesthetics of a residential structure by providing a smooth finish to floors, staircases, and walls.
Meanwhile, the increasing prevalence of natural calamities, such as earthquakes and tsunamis, is compelling various governments to emphasise more on high-quality cement and concrete to enhance the stability of roads, schools, dams and ports, and driveways, among other commercial and institutional structures.
Cement Market Report Snapshots
Cement Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 383.02 billion in 2023.
The market is estimated to grow at a CAGR of 5.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 614.88 billion by 2032.
The increasing application of cement across residential and commercial construction projects, growing demand for high-quality cement to ensure safety during outbreak of natural calamities, and rapid development of healthcare units are the major drivers of the market.
Key trends aiding market expansion include the growing emphasis of various governments towards developing high-quality cement infrastructure, and rising investments aimed towards developing energy efficient cement with reduced carbo footprint.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Blended and Portland, among others are the different types of cement in the market.
Residential, commercial/institutional/industrial, and infrastructural are the different end-uses in the market.
Cement is made up of chemical aggregates such as calcium, silicon, aluminium, and limestone, among others.
Key players in the market are Holcim Limited, China National Building Material Group Co., Ltd., Ultratech Cement Limited, Heidelberg Materials AG, CRH plc, CEMEX S.A.B. de C.V., Buzzi SpA, Dangote Industries Limited (Dangote Cement Plc), Anhui Conch Cement Company Limited, BBMG Corporation, GCC, S.A.B. de C.V., and Votorantim Cimentos, among others.
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