Cement Market Size, Share Current and Future Industry Trends, 2021-2028

The global cement market is anticipated to witness considerable growth on account of the rising number of construction activities worldwide. Fortune Business Insights™, in their report titled, “Cement Market Size, Share & Industry Analysis, By Type (Portland, Blended, and Others), By Application (Residential, and Non-Residential), and Regional Forecasts, 2021-2028,” presents a comprehensive analysis on the same. According to the report, the cement market size is expected to be worth CAGR of 5.1% during the 2021-2028 period.

The report is based on qualitative and quantitative cement market analysis, predominantly focusing on growth trajectories, such as factors boosting and challenging the market, prime industry developments, and key market insights. It also describes the segmentation and the list of players operating in the market in detail, along with all the major strategies adopted by them. Besides this, the report highlights some of the key cement market trends that will bode well for players and the entire market in the forecast period.

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Rise in Urbanization to Propel Demand for Cement

The increasing population is further boosting activities, such as industrialization and urbanization on a global basis. The rise in need for residential space is positively influencing the cement market growth. It is witnessing robust growth on account of the rise in industrialization and urbanization activities. Besides this, the surging demand for amenities, namely, roads, airports, malls, office buildings, and residential spaces are further expected to help earn high cement market revenue in the forecast period. Furthermore, changing lifestyle and the need for living a quality life will help to increase the need for urbanization, and ultimately boost the cement market size in the coming years.

Increasing Construction &Infrastructural Activities to Help Propel Asia Pacific Market

From a geographical perspective, the cement market size in North America was USD 12.3 billion in 2018. However, the report forecasts Asia Pacific to hold the highest cement market share in the future. In 2018, this region was leading the market owing to the growth of construction and infrastructural developmental activities, especially in the developing nations, such as India and China. China is the dominant producer and consumer of cement globally. The rise in demand for cement in the emerging nations, coupled with the surging demand for cement from the Southeast Asian nations are anticipated to help the region in continuing its dominance in the coming years.

On the other hand,Europe will witness significant growth on account of increasing public infrastructure. Countries, such as France, the U.K., Germany, and Russia are primarily contributing to the cement market growth in this region.

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Diversified Market Will Allow Vast Expansion of Market – Win-win Situation for Players

Cement market manufacturers are trying to expand their businesses to strengthen their position in the market. The competitive landscape of the market is highly fragmented with the presence of both regional as well as international players. Vendors are also adopting mergers and acquisitions and new product development strategies to attract high cement market revenue in the forecast period.Some of the latest industry developments include:

June 2017 – UltraTech Cement has completed Rs 16,189 crore worth acquisition with five grinding units and six integrated cement plants of Jaiprakash Associates, holding a capacity of 21.2 million tonnes. As per this acquisition, all three companies, their creditors, and shareholders made an effective scheme of arrangement post which, the cement manufacturing capacity of UltraTech, raised to 93 million tonnes annually.

January 2019 – An agreement was signed between TEKFEN Ventures, an industrial venture company, dealing in agriculture, manufacturing, construction, and real estate sectors, and CEMEX ventures. This collaboration aims at identifying and supporting innovation in building technology and materials for construction on a global basis.

Some of the keycement market manufacturers include:

Aditya Birla Ultratech
Titan Cement Company S.A.
Votorantim Cimentos
The Siam Cement Group
Buzzi Unicem S.p.A.
CRH plc
Mitsubishi Cement Corporation
LafargeHolcim
Argos USA Corporation
InterCement
CNBM International Corporation
Italcementi
Taiheiyo Cement Corporation
Drake Cement LLC
HeidelbergCement
Other Key Players

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