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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cement Market Size
The global cement market reached 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.
Cement Market Outlook
- India, with its large population, is the second-largest cement producer globally. As per industry reports, it accounts for more than 8% of the global capacity.
- In the U.S., cement shipments in the New England and Middle Atlantic region (Maine, New York, and Pennsylvania) totalled 555,611 metric tons in August 2023.
- In the West South-Central region of the U.S., cement shipments were 1,240 metric tons in January 2023, 1,820 metric tons in February 2023, and 1,743 metric tons in March 2023.
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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