Cement Market Research Report: Information By Type (Portland, Blended and Others), by Application (Residential Construction, Commercial Construction, Industrial, Others) And By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Forecast Till 2030.

Global Cement Market Overview

Cement Market Size was valued at USD 324.24 billion in 2021. The Cement market industry is projected to grow from USD 334.97 Billion in 2022 to USD 505.34 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.27 % during the forecast period (2022 - 2030). The increased demand from developed economies and increased investments in infrastructure is driving market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cement Market Trends

• Increased demand from developed economies and increased investments in infrastructure to boost the market growth

Due to their superior qualities, such as strength-enhancement, chemical resistance, and waterproofing, cement and concrete additives such as fly ash, silica fume, set retarders, rice husk ash, and others are used for application in the infrastructure sector for highways, bridges, dams, and other structures. Due to reasons like increased foreign investment, industrialization, and government initiatives for infrastructure development, the infrastructural industry is expanding quickly. For instance, the Alberta Government reports that between 2020 and 21, around US$1.16 billion was committed to infrastructure construction in 172 projects.

Moreover, the increasing population and rapid urbanization are resulting in the growing requirement for the construction of residential and commercial buildings. This, along with a significant rise in remodeling, renovation, and reconstruction of infrastructures and the development of mega infrastructure projects in several countries, are catalyzing the demand for cement across the globe. In addition, the emerging trend of the nuclear family is resulting in the rising need for residential spaces, such as studio apartments and private bungalows, which is positively influencing the market. Furthermore, the introduction of advanced technologies in the manufacturing process of cement is strengthening the market growth. The increasing utilization of green cement in constructing eco-friendly and sustainable buildings to reduce harmful emissions and support environmental health is also creating a positive market outlook. The escalating demand for precast materials, including blocks, roof panels, and tiles, is offering lucrative growth opportunities to the manufacturers. Apart from this, governments of various countries are increasingly investing in enhancing the existing infrastructure. For instance, they are focusing on public housing projects and the construction of roads, railway tracks, bridges, and flyovers for better connectivity to remote areas.

Figure 1: New housing construction in U.S

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Moreover, governments of various countries are investing heavily on enhancing the existing infrastructure, which is contributing to the market growth. The growing environmental concerns, coupled with technological advancements in the production process, are also driving the market. For instance, as the inclusion of thermal energy in the manufacturing of cement ensures a low carbon footprint, it is widely adopted by manufacturers of different End-use industries. Additionally, improving focus on sustainable development has resulted in shifting preferences toward green construction. This, along with the escalating demand for green buildings, is positively influencing the sales of sustainable and green cement as it minimizes CO2 emissions generated during their production. Thus, the increasing demand in the construction driving the growth of the Cement market revenue.

Cement Market Segment Insights

Cement Type Insights

The Cement market segmentation, based on type, Portland, Blended, and Others. The Portland segment held the majority share in 2021 contributing to around ~62%-64% in respect to the Cement market revenue. This is primarily owing to the rising residential construction market.

January 2023: Loma Negra, a subsidiary of InterCement (Brazil) awarded expansion project to Sinoma Overseas Development Co Ltd (SODC). The second line of production will have a capacity of 5800TPA. The L’Amali works is the largest cement facility in the Argentina, and Line II marks the second co-operation between SODC and InterCement. This expansion will increase company’s footprint in the Latin American Market.

Cement Application Insights

The Cement market segmentation, based on application, Residential Construction, Commercial Construction, Industrial, Others. The Commercial Construction segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Blended cement is a type of cement that contains both Portland cement and slag. The main factors driving demand for blended cement in the cement market is its higher strength and durability than either Portland or slag-only cements. In addition, blended cements are better suited for use in areas with high humidity, since they have a greater ability to retain water. There are a number of factors contributing to the high demand for blended cements. First, the combination of Portland and slag materials results in a stronger product that can address a wider range of needs. Second, the increased popularity of rainwater harvesting and drought-resistant landscaping has led to an increased need for durable building materials that can stand up to prolonged exposure to weather conditions. Finally, modern construction methods often involve the use of heavier gauge steel which requires a more durable concrete foundation. Hence, demand in different applications positively impacts the market growth.

November 2022: Votorantim Cimentos has completed the acquisition of all Heidelberg Materials' companies in southern Spain, including a contemporary integrated cement plant in Málaga, three aggregates quarries, and eleven ready-mix facilities in the Andalusia area. This has further increased market share in the Cement industry. This purchase is completely consistent with company strategy, strengthens company footprint on the Iberian Peninsula to better serve its clients, and generates significant synergies with its current assets.

Figure 2: Cement Market, by Application, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Additionally, Not only is there high demand for blended cements, but the technology behind producing them is also advancing at a rapid pace. Today's blenders use advanced industrial blending machines that can achieve very accurate results while still meeting consumer requirements for strength and flexibility. This likely to keep the demand for Cement high and help it grow, which will boost the Cement market in the coming years.

Cement Regional Insights

By Region, the study segments the market into North America, Europe, Asia Pacific, Latin America, and MEA. Asia-Pacific Cement dominating market accounted for USD 0.105 billion in 2021 and is expected to exhibit an 4.88% CAGR during the study period. This is attributed to the increasing infrastructure development Megaprojects such as China’s One Belt and One Road (OBOR) infrastructure program are likely to stir up the demand for cement during the forecast period. For instance, in August 2017, construction work was started on the East Coast Rail Link project to link Malaysia’s east and west regions. The project is a part of OBOR and is anticipated to amount to nearly USD 13.0 billion. Increasing urbanization is leading to steady growth of cities, which in turn is estimated to contribute to the growth of the segment. Besides this, the factor is projected to provide a significant push to residential construction.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: CEMENT MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Cement market accounts for the second-largest market share due to the growing demand for the cement applications, including the commercial constrcution. Further, the Germany Cement market held the largest market share, and the UK Cement market was the fastest growing market in the European region

The Asia-Pacific Cement Market is expected to grow at a CAGR of 4.88 % from 2022 to 2030. This is because of the region's increasing population, as well as the expanding demand for Cement from the commercial infrastructure in developing nations like China and India. Moreover, China Cement market held the largest market share, and the India Cement market was the fastest growing market in the Asia-Pacific region

For instance, India Cement market is the favored destination for Cement manufacturers due to the infrastructure projects. On the other hand, China is famous for road constrcutions. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.

Cement Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Cement market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Cement industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Cement industry to benefit clients and expand the Cement market sector is to manufacture locally to reduce operating costs. In recent years, Cement has provided some of the most significant benefits.

Aditya Birla Group(Ultratech Cement) (India) is the cement flagship company of the Aditya Birla Group. A USD 7.1 billion building solutions powerhouse, UltraTech is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India. It is the third largest cement producer in the world, excluding China. UltraTech is the only cement company ly (outside of China) to have 100+ MTPA of cement manufacturing capacity in a single country. The Company’s business operations span UAE, Bahrain, Sri Lanka and India. In September, 2022. Aditya Birla group flagship UltraTech Cement is leading the race to acquire India Cements’ project in Madhya Pradesh, which is valued at Rs 800 crore.

Also, HeidelbergCement (Germany) is a multinational building materials company. It is a DAX corporation and is one of the largest building materials companies in the world. It is one of the world's largest integrated manufacturers of building materials and solutions with leading market positions in cement, aggregates, and ready-mixed concrete. Our products and services are used in the construction of houses, infrastructure, commercial and industrial facilities. In September 2021, HeidelbergCement, acquired a 45% stake in US-based construction software firm Command Alkon, providers of software and technology used to manage supply chains and construction materials. Financial details of the acquisition have not been disclosed at the time of writing. The remaining 55% of the company will be owned by software-focused private equity firm Thoma Bravo.

Key Companies in the Cement market includes

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  Shree Cement (India)

  
  


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  InterCement (Brazil)

  
  


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  Votorantim (Brazil)

  
  


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  Titan Cement (Greece)

  
  


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  TAIHEIYO CEMENT CORPORATION (Japan)

  
  


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  SCG (Thailand)

  
  


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  Sunnsy (China)

  
  


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  Mitsubishi Materials Corporation (Japan)

  
  


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  Aditya Birla Management Corporation Pvt. Ltd (India)

  
  


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  Wonderful Sky Financial Group Limited (China)

  
  


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  CEMEX S.A.B. de C.V. (Mexico)

  
  


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  BBMG Corporation (China), among others

  
  

Cement Industry Developments

January 2023: Titan America’s Roanoke Cement opened a new silo constructed at its Winston-Salem terminal. The facility will double the storage capacity of the company and digital technology will enable its customers to enjoy fully-automatic loadout. The facility will store Portland cement exclusively.

Cement Market Segmentation

Cement Type Outlook

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  Portland

  
  


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  Blended

  
  


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  Others 

  
  

Cement Application Outlook

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  Residential Construction

  
  


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  Commercial Construction

  
  


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  Industrial

  
  


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  Others

  
  

Cement Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Russia

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    South Korea

    
    
  
  
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    Australia & New Zealand

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Latin America

  
  
  
  
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    Mexico

    
    
  
  
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    Brazil

    
    
  
  
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    Argentina

    
    
  
  
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    Rest of Latin America

    
    
  
  
  
  


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  Middle East & Africa

  
  
  
  
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    Turkey

    
    
  
  
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    GCC Countries

    
    
  
  
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    South Africa

    
    
  
  
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    Rest of the Middle East & Africa