Press release
Cement And Concrete Products Market: Growth Projections, Key Drivers, and Emerging Trends
Cement And Concrete Products Market
The global cement and concrete products market is witnessing robust growth, fuelled by industrialization, economic development, and a boom in construction activities.
What Is The Projected Market Size Of The Global Cement And Concrete Products Market And Its Growth Rate?
The market for cement and concrete products has had a strong trajectory of growth over the recent years. Key statistics include:
• The market size will grow from $419.23 billion in 2024 to $448.12 billion in 2025, at a compound annual growth rate (CAGR) of 6.9%.
• By 2029, the market size is expected to reach $552 billion, growing at a CAGR of 5.4%.
• Main drivers of growth for the forecast period include sustainable construction practices, smart city initiatives, and innovative materials.
What Is Driving The Growth In The Cement And Concrete Products Market?
The cement and concrete products market is primarily driven by governmental initiatives worldwide, aimed at making housing affordable for low-income families. In 2024, according to the CAP 20 articles by the Center for American Progress, each year, the U.S. Treasury Department spends approximately $13.5 billion on the LIHTC program, while HUD's Public Housing Capital Fund allocates $3.2 billion in grants for public housing repairs and rehabilitation. These initiatives propel the demand for cement and concrete, therefore driving market growth.
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Who Are the Key Players Driving Cement And Concrete Products Market Growth?
The cement and concrete products market has several key players, including:
• CRH plc
• Titan Cement Group International
• China National Building Material Group Co.Ltd.
• LafargeHolcim Ltd.
• Anhui Conch Cement Company Limited
• Siam Cement Public Company Limited
• Cemex SAB de CV
• Grasim Industries Limited
• UltraTech Cement Limited
• Taiheiyo Cement Corporation
What Are The Key Trends In The Cement And Concrete Products Market?
The key trends driving the cement and concrete products market include:
• Digitalization in construction
• Technological advancements in construction
• Carbon capture and utilization
• Use of alternative binders and materials
• Advancements in concrete technologies
• Smart construction practices
What Are The Segments Of The Global Cement And Concrete Products Market?
The global cement and concrete products market is segmented by:
• Type: Cement, Ready-Mix Concrete, Concrete Pipe, Brick, and Block, Other Concrete Products
• Product: Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Other Products
• Application: Residential, Non-Residential
Which Region Leads The Cement And Concrete Products Market?
In 2024, Asia-Pacific emerged as the largest region in the cement and concrete products market, with Western Europe following in the second place. The regions featured in the cement and concrete products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Cement And Concrete Products Market Global Market Report?
- Market Size Analysis: Analyze the Cement And Concrete Products Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cement And Concrete Products Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cement And Concrete Products Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cement And Concrete Products Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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