ID: MRFR/CnM/1515-HCR | February 2021 | Region: Global | 140 pages
Cement Market Overview
Cement Market is projected to be worth USD 494.61 Billion by 2030, registering a CAGR of 6.20% during the forecast period (2021 - 2030). Owing to the use of cement across various industry vertices, the cement market share is likely to increase at a good rate.
Cement works in the form of a binding agent and has properties that help in holding or joining the other materials. This is usually used in fine powders of inorganic materials and the key constituents are chalks, shells, calcium silicate, and limestone amongst others. Cement production is a step that utilizes the key constituents and compiles them in a rotary kiln. The temperature for this process stands at 1450 degrees celsius. The result of this process is clinker production. This is an intermediate that is run through to obtain yield cement powder. These powders belong to hydraulic and non-hydraulic types. Hydraulic cement dominates the overall production by this sector in the global cement market.
COVID 19 Analysis
Cement is a major ingredient across various industry vertices like the paints and coatings sector, alongside the building and construction units. However, owing to the adverse situation of the pandemic, the lockdown was imposed and the work had to stopped midway for a considerable period. Due to this, the demand for cement declined drastically. Also, the government was imposing many restrictions on the functioning segments like production and manufacturing which led to a decline of revenue for the cement market and also, increased the inability to meet the prevailing demand.
Hence, to help the key cement market players cover the losses and revive the market operations and simultaneously create employment opportunities for the displaced population, the government is rolling out schemes and initiatives that will work positively and stimulate a wide demand. Also, the rise in investment in the research and development sector will create opportunities to create innovative and quality products and launch them on an international scale to serve the needs of a larger audience.
The global cement production has already reached a quantum of 2.8 billion tonnes and with each passing year till 2050, it is likely to rise by 4 billion tonnes per year approximately. This means that the demand is increasing many folds. The growth trends are majorly in the APAC regions which will help the market achieve new heights during the forecast period ending in 2028.
Urbanization is expanding which is a result of an improvised GDP that pushes the global cement market towards excellent growth. However, the need is to maintain the carbon dioxide emission rates and also sustain the energy and material resources for future generations. This is a major factor that targets and presents major challenges to the market during the forecast period of 2021-2028.
Portland cement is a type of hydraulic cement that is emerging as the largest contributor of cement amongst the rest on the global scale. The population is growing on a massive scale which is staggering a huge demand for basic amenities like housing and lodging. To build a house, cement holds foremost importance. The construction of buildings is on the way on a large scale. Rapid industrialization is on the way which is gaining great support from the government that will massively help the global cement market market function as per its best potential by the end of the forecast period in 2028.
The cement market has been divided all across the globe based on the type and the end-user industry.
Based on the Type
The market has been divided all across the globe based on the type into Portland cement, blended, and many others. The largest market share is held by the Portland cement market. This type of cement is highly used for generic construction purposes. Further, the Portland cement has been sub-divided into high sulfate resistance, low heat of hydration, high early strength, general-purpose, and moderate sulfate resistance.
Based on the End-User Industry
The cement market has been divided all across the globe based on the end-user industry into infrastructure industry, commercial construction industry, and residential industry. The largest market share in the global market is held by the commercial construction industry and it dominates the whole market.
The cement market has been divided all across the globe based on the region into the Asia-Pacific region, European region, Latin American region, North American region, and the Middle East and African region. The largest market share in the global market is held by the Asia-Pacific region owing to the presence of the largest and second-largest cement manufacturing industries in this region. Also, this is the fastest-growing region in the world. Additionally, rapid urbanization and industrialization also drive the market in this region.
The second-largest market share in the global market is held by the North American region owing to the active presence of infrastructural and commercial industry. The US is the third-largest consumer of cement owing to an increase in demand.
The third-largest market share in the global market is held by the European region owing to the presence of various regulatory, stringent legal, and environmental norms in this region. It provides cost-efficient cement.
The fourth-largest market share in the global market is held by the Latin American region owing to the presence of Mexico and Brazil. Also, closeness to the market fuels the market demand.
The Middle East and African region show positive growth owing to an increase in demand for the cement industry in this region and will undergo good growth during the forecast period.
The most prominent major key players in the cement market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the cement market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the cement all across the globe.
This global cement market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the cement market in the global market along with the factors that restrict its growth in the global market. The technical analysis for the growth estimation during the forecasted period is mentioned. The impact of COVID 19 on the sales revenue of the cement market all across the globe is mentioned. The future growth rate during the forecasted period is estimated and mentioned.
|Market Size||2030: USD 494.61 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LafargeHolcim (France), Anhui Conch Cement Company Limited (China), HeidelbergCement AG (Germany), BBMG Corporation (China), CEMEX S.A.B. de C.V. (Mexico), Wonderful Sky Financial Group Limited (China) , Aditya Birla Management Corporation Pvt. Ltd (India), Mitsubishi Materials Corporation (Japan), sunnsy (China), SCG (Thailand), TAIHEIYO CEMENT CORPORATION (Japan), Titan Cement (Greece), Votorantim (Brazil), InterCement (Brazil), and Shree Cement (India)|
|Key Market Opportunities||Sustaining material and energy resources, while maintaining the CO2 emissions rate is the growing challenge|
|Key Market Drivers||The continuously growing population which is leading to the increasing need for the housing and lodging sector with the rapid industrialization|
Frequently Asked Questions (FAQ) :
The production capacity of the global Cement market had reached to 6.20% BN tons in 2030.
The cement market is expected to account for a higher market share value of USD 6.20% billion in 2030.
The commercial construction and infrastructure segment is the largest end-use industry in the global Cement market in terms of consumption and revenues.
Asia Pacific holds the largest share in the global Cement market followed by North America and Europe, respectively.
Anhui Conch Cement Company Limited (China), LafargeHolcim (France), HeidelbergCement AG (Germany), CEMEX S.A.B. de C.V. (Mexico), BBMG Corporation (China), Wonderful Sky Financial Group Limited (China), Mitsubishi Materials Corporation (Japan), Aditya Birla Management Corporation Pvt. Ltd (India), Sunnsy (China), Taiheiyo Cement Corporation (Japan), SCG (Thailand), Votorantim (Brazil), InterCement (Brazil), Titan Cement (Greece), and Shree Cement (India), are some of the major players operating in the global Cement market.