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Report Overview
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 5.40% between 2024 and 2032 to reach USD 614.88 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cement Market Analysis by Region
Asia Pacific leads the market due to high cement production levels and large number of cement plants in emerging economies of the region
Asia Pacific is one of the fastest growing regions in the cement market. Within the Asia Pacific region, India has been witnessing upward trajectory because of the expanding cement plants and production capacities. As per industry reports, there are 210 cement plants in India, with 77 located in the states of Andhra Pradesh, Rajasthan, and Tamil Nadu.
On the other hand, the North American region escalated cement market expansion due to the presence of leading manufacturers of cement aggregates and ready-mixed concretes. The market is expected to be propelled by strong supply chains of cement due to large supplies of limestone, and gypsum, among other raw materials in areas like Alpena.
Africa and Europe are the regions which have picked up steady growth, fuelled by the growing research and innovations by the market players aimed towards reducing the carbon footprint in the construction sector while sustaining the volume of production.
Meanwhile, strong economic growth of East African nations such as Rwanda and Uganda are expanding the overall cement market size. Over the forecast period, strong urban development, and expanded growth opportunities for white cement, across countries like Tanzania, is likely to boost the growth of East Africa white cement market.
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 5.40% 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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124