Cement Market expected to grow with a CAGR of 6.8% during 2019-2025
Published | 03 April 2019
According to BlueWeave
Consulting, the global Cement Market is anticipated to worth USD 439.15 billion
by 2018, with a CAGR of 6.8% during 2019-2025. Cement is a dry powder that acts
as a glue to give strength to the structure. The demand for cement relies on
construction and building activities and overall infrastructure development.
Cement is the primary
ingredient for concrete and mortar, which are widely used in the construction
industry, and hence, a rise in construction or building activities will mostly
spur the cement market globally. It is one of the most abundantly produced
materials due to its widespread usage in concreting, minimum cost, and the
geographic abundance of its main raw materials. It is composed of calcium
silicates, calcium aluminates, and calcium aluminoferrite minerals. The demand
for cement is surging due to the growing requirement for the construction of
institutional buildings for the education and healthcare sectors, which is
anticipated to drive the market in the coming years.
Moreover, supportive
regulations and favorable government policies, such as Housing for All and
smart cities, are expected to trigger the demand for cement in residential and
commercial applications in developing and underdeveloped countries. The
initiative, such as the Cement Action Plan, a part of the World Business
Council for Sustainable Development´s (WBCSD) Low Carbon Technology
Partnerships, is accelerating the deployment of low-carbon solutions in the
cement industry. Furthermore, investment in R&D for regional expansions is
the key strategy adopted by the key players to strengthen their position in the
cement market as smaller companies are keen to collaborate with existing key
players to strengthen their foothold in the global market.
Blended
cement projected to be the most dominant product of the Global cement Market.
The blended products segment
dominated the global cement market with the maximum market share of the total
cement market and projected to lead the market over the forecast period
2018-2025. Owing to its benefit, such as typically lower costs and better
environmental profile than straight Portland cement. Cement firms have also
started increasing the use of cementitious materials such as fly ash and blast
furnace slag in their products, which reduces the level of carbon dioxide
emissions from the production of Portland cement clinker. The usage of this
brand varies dramatically. For Instance, in China, more than 90% of demand is
attributable to blended cement, while in the US, the demand is less than five
percent.
Non-residential
and Infrastructure sectors are projected to be the leading segment of the
overall Cement market during the forecast period.
Non-residential/Infrastructure
sector dominated the global cement market and is expected to hold its dominance
in the coming years. Moreover, the mega projects such as China’s One Belt and
One Road (OBOR) infrastructure program are likely to surge the demand for
cement over the forecast period. Also, the increasing urbanization is leading
to steady growth of cities, which in turn is estimated to contribute to the
growth of this segment. However, this factor is projected to provide a
significant push to residential construction. On the other hand, residential
construction across the globe has also increased significantly over the past
few years. The residential sector is one of the major consumers of cement in
many countries due to favorable demographics, improving disposable incomes, and
the growing trend of nuclear families.
Key
Development in Cement Industry
July
2014,
Aditya Birla Ultratech acquired two units of Jaiprakash Associates in order to
increase the firm’s production capacity to 100 metric tons per year by 2020.
During
2017-18, Ultratech commissioned a Greenfield clinker plant with
a capacity of 2.5 MTPA and a cement grinding facility with 1.75 MTPA capacities
in Dhar, Madhya Pradesh. The company is expecting to complete a 1.75 MTPA
cement grinding facility and a 13 MW waste heat recovery system by September
2018 at the same location.
In
May 2018, Ultratech Cement decided to acquire the 13.4 MTPA
capacity cement business of Century Textiles and Industries.
Global
Cement Market Competitive Landscape
Companies such as Aditya
Birla Ultratech, CNBM International Corporation and other global players such
as CEMEX S.A.B. de C.V., Heidelberg Cement AG, Italcementi, InterCement,
LafargeHolcim, SCG, Taiheiyo Cement Corporation, Titan Cement Group,
Votorantim, and Anhui Conch Cement are the leading players of glass packaging
market across the globe. Key companies are forming joint ventures, mergers, and
acquisitions to increase their market share and product portfolio.
Browse Detailed Analysis
with TOC, “Global Cement Market, By
Product (Portland Blended, And Others), By Application (Residential,
Non-Residential, And Infrastructure), By Region (North America, Europe, Asia
Pacific, Middle East & Africa), Size And Forecasts, 2015 – 2025”
At
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