Portland Cement Market Size | Share Growth Trends 2023

The global portland cement market size was valued at USD XX Billion in 2021 and is poised to grow at a significant CAGR of XX% during the forecaste period 2023-2029. Portland cement is used in a variety of applications such as building, infrastructure, cement bricks, plasters, and screeds. The rapid expansion of the construction industry is projected to be the primary driver of market growth in the future years. Concrete is a key component in the construction sector and rising demand for different structural parts such as beams, panels, and road furniture is likely to boost the Portland cement market growth.

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The portland cement market segmentation:
1) By Type: Gray Portland, White Portland.
2) By End-use: Residential, Non-residential, Infrastructure.

Non-Residential Segment Dominates the Portland Cement Market:
Non-residential segments account a significant amount of market share, and it is expected to grow with a CAGR of XX% from 2022-2028. In this industry, the product is used for highway building, irrigation canals, commercial centers, industrial structures, sports complexes, and transportation hub construction. Increasing urbanization and infrastructural development have increased the demand for cement. Additionally, the increased need for vital services such as hospitals is likely to support the segment's revenue growth.

North America leads Portland Cement Market:
In North America, the Portland Cement market holds the market share XX% in 2021 and the market is expected to grow at a significant CAGR during the forecast period. owing to significant investments in the infrastructure sector, particularly in Saudi Arabia, the United Arab Emirates, and Qatar. The increased demand for mixed cements in Europe is likely to drive up demand for Portland cement.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Aluminum Market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region., In November 2020, Heidelberg Cement spent around USD 485 million to renovate and reorganise its several cement plants in France. This investment project intends to improve the company's French business' efficiency, structures, and procedures.

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Key players' profiles in the global portland cement market report are Mitsubishi Cement Corporation (U.S.), Alamo Cement Company (U.S.), Lafarge SA (Switzerland), Martin Marietta Materials, Inc. (U.S.), Heidelberg Cement (Germany), National Cement Company of California (U.S.), American Cement Company, LLC (U.S.), Holcim (Switzerland), Argos USA Corporation (U.S.), ESSROC Cement Corporation (U.S.), CEMEX (Mexico)

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