Mexico Cement Market Report and Forecast 2024-2032

Mexico Cement Market Outlook

The Mexico cement market size reached around 46.9 MMT in 2023. The market is projected to grow at a CAGR of 1.1% between 2024 and 2032, reaching almost 51.8 MMT by 2032.

Key Takeaways

• Mexico produced 44 metric tonnes of cement for domestic use in 2022.

• Mexico exported 2 million metric tonnes of cement across borders in 2022.

• Non-residential construction is expected to constitute a major portion of the Mexico cement market share.

Cement exports constitute an important portion of Mexico’s trade with foreign nations. In 2022, Mexico earned $272 million in foreign exchange reserves by exporting cement to the USA ($254 million), Belize ($3.13 million), Guatemala ($5.77 million),  Brazil ($1.57 million), and Nicaragua ($2.78 million).

The expansion of the construction industry in Mexico is also expected to impact the cement market favourably. The development of industrial parks due to increasing nearshoring of business operations by American firms is expected to drive the demand for strong buildings, resulting in substantial Mexico cement market growth.

In the forecast period, the rising residential construction, the introduction of government initiatives aimed at promoting infrastructural development, and rapid economic growth are expected to positively impact the Mexico market for cement.

Increasing innovations by key players are driving the Mexico cement market growth. With the growing focus on enhancing the sustainability of the construction sector, rapid urbanisation, and innovations in the construction sector, key players are attempting to develop cement with reduced carbon emissions. In February 2024, Holcim Mexico announced an investment of USD 55 million at a grinding facility at its cement plant in Macuspana, Tabasco. It is Mexico’s first plant to manufacture cement with calcinated clay, significantly lowering carbon emissions.

Market Segmentation

Mexico Cement Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments

Market Breakup by Product

• Blended

• Portland

• Others

Market Breakup by End Use

• Residential

• Non-residential

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key Mexico cement market players are Cemex, S.A.B. de C.V., Moctezuma Corporation, GCC, S.A.B. de C.V., Buzzi S.p.A., Holcim Ltd., FORTALEZA MATERIALES, SAB DE CV, and Cooperativa La Cruz Azul, among others.

Key Highlights of the Report