Cement Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Sweden, Italy, Spain, Netherlands, China, Japan, India, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2021 -2027
Report ID: GMI4984
Cement Market size is projected to witness significant growth from 2021 to 2027 with rising construction activities globally. Growing population and rapid urbanization are the major driving forces that will lead to a substantial rise in the need for residential spaces, thus fueling the cement industry growth. Upcoming infrastructure projects in emerging economies is another growth inducing factor. Furthermore, growing demand for amenities in residential spaces will boost the cement demand. Additionally, government efforts to support construction and infrastructure projects in developing countries will increase the cement market demand.
The key restraint is the low availability of coal, which led to an increase in the price of raw materials required to produce cement. Cement manufacturing is an intensive process as it comes from burning coal, therefore shortage of coal increases the total operational cost of the cement manufacturing companies. Cement is a binder commonly used to bind or hold fine powders of various objects such as white stone, calcium silicate, chalk, shells, and other inorganic powders. Cement production is achieved by incorporating these essential elements into a circulating flame at a temperature of 1,450o C.
Technological advancements have changed the entire dynamics of the cement manufacturing industry. Innovative technology and high investments in R&D help cement manufacturing companies to develop translucent cement. These types of cements have excellent properties, which are produced using waste residues. The transparency effect is more apparent when dark and viewed from outside. They have ability to transmit light leads to less electricity usage, helping to save energy.
Various government regulations and laws are changing rapidly as this industry produces heavy toxic elements and depleting the natural resources. For instance, the Antioquia Regional Authority (CorAntioquia) has approved the conversion of the Cementera del Magdelena Medio cement plant mix to one million tonnes per year in Maceo, Antioch. In addition, the company will have a capacity to mine up to 900,000 tonnes of limestone and clay each year.
Based on type, the cement market is bifurcated into blended, Portland, and others. Portland cement contains calcium trisilicate, tricalcium aluminate, company calcium alumino ferrite, and calcium sulfate in gypsum. It has an adhesive and a binder component that allows mineral pieces to be put together in water to form a compact mass of brickwork. Portland cement is also used in the construction of panels, beams, and in megastructures. Blended cement is a combination of hydraulic materials and Portland cement, which reduced crack formation. This has led to increase the demand for blended cement for various applications such as road constructions, buildings, and mining, among others. Other types of cement include colored cement, composite cement, low-alkali cement, translucent cement, and quick setting.
In terms of application, the cement market is divided into residential and non-residential. The non-residential segment will drive the market throughout the forecasted period due to various application such as the construction of stadiums, transportation hubs, roads, dams, commercial spaces, and industrial buildings. In addition, the increasing demand for schools and hospitals will fuel the market growth. Rapid population and urbanization are the major driving forces in the residential sector.
In Asia Pacific, China and India held the largest share in the global cement market and are expected to grow during the forecast period. The rapid industrial development are the main factors driving the market growth. Some of the major players involved in the market include Siam Cement Group, Argos USA Corporation, CNBM International Corporation, LafargeHolcim, Titan Cement Company S.A., and Mitsubishi Cement Corporation, among others. Key players in the market have developed a strong regional presence through robust distribution network and multiple product offerings. Market players are expected to engage in merger and acquisition to satisfy niche markets and strengthen their global presence.
Cement Market, Type, 2021 – 2027
- Portland cement
- Blended Cement
Market, By Application, 2021 – 2027
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- CRH Plc
- The Siam Cement Group
- Argos USA Corporation
- CNBM International Corporation
- Titan Cement Company S.A.
- Mitsubishi Cement Corporation
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