Cement Market Size, Share, Growth, Analysis, Trends and Outlook 2023-2030.

The global cement market reached USD 392.5 billion in 2022 and is expected to reach USD 703.7 billion by 2030, growing with a CAGR of 6.2% during the forecast period 2023-2030.

The global cement market has witnessed significant growth and transformations over the years, with various factors influencing its dynamics.

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Market Drivers:

Population Growth, Rapid Urbanization and Focus on Sustainable Construction

Rapid urbanisation, particularly in developing nations, drives the worldwide cement business. The UN expects 9.7 billion people by 2050, including a large urban population. Residential, infrastructural, and commercial space will increase as urbanization expands. Cement supports building initiatives, making it crucial for urban population growth.
The contemporary world emphasizes sustainability and environmental preservation. Construction enterprises and governments have adopted eco-friendly procedures due to the awareness change. To cut carbon emissions, cement makers are using biomass and waste-derived fuels. Low-carbon cement and new building methods further promote sustainable construction and cement consumption.

Market Segmentation:

Versatility, Durability and Ability to Set and Harden Even Underwater

Portland cement is a hydraulic cement manufactured by grinding clinker, which is a blend of limestone, clay, and other minerals, with a small amount of gypsum. It is the most widely used cement in construction due to its versatility, durability, and ability to set and harden even underwater. The chemical composition of Portland cement makes it perfect for various applications, including concrete production, mortars, grouts, and stuccos.
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Cement Market Companies:

The major global players in the market include China National Building Material Group Corporation, CEMEX, S.A.B. de C.V., HOLCIM, Heidelberg Materials, UltraTech Cement Ltd, InterCement, LafargeHolcim, The Siam Cement Group, Titan Cement Company S.A. and Votorantim Cimentos.

By Type

• Portland
• Blended
• Others

By Cement Grinding Technologies

• Ball Mills
• Vertical Roller Mills
• Roller Presses
• Others

By Application

• Commercial and Infrastructure
• Residential
• Industrial

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share:

Infrastructure Development, Urbanization and Construction Projects
Asia-Pacific has been a dominant force in the global cement market, and its significance has only grown in the post-2020 era. Asia-Pacific has long been a powerhouse in the global cement industry, and this trend has continued well beyond 2020.

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