Cement Market Projected to Reach USD 703.7 Billion by 2031 with 6.2% CAGR | Driven by Infrastructure, Urbanization, and Sustainable Technologies

Global Cement market reached USD 392.5 billion in 2022 and is expected to reach USD 703.7 billion by 2031, growing with a CAGR of 6.2% during the forecast period 2024-2031.

The Cement Market encompasses all cement types used in residential, commercial, and industrial construction. Growth is fueled by infrastructure investments and rising urban housing needs. Manufacturers are adopting digital technologies for efficient production monitoring. Sustainable cement with reduced CO2 emissions is gaining market traction. Regional demand variations reflect construction trends and regulatory policies. The global market continues expanding with strong government-driven development initiatives.

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☛ Cement Market Recent NEWS 2025:

Vietnam's Cement Production Experiences Strong Growth in First Three Quarters of 2025

Vietnam's cement industry has demonstrated robust expansion in the first nine months of 2025, with total output reaching an impressive 137 million tonnes (Mt). This figure signifies a 15% year-on-year increase, underscoring the sector's positive momentum and strong demand in the construction and infrastructure markets.

The National Statistics Office (NSO) highlights that September 2025 alone saw cement production of 16.2Mt, marking a substantial 28% increase compared to the same month in 2024. This monthly surge further emphasizes the accelerated pace of cement manufacturing as the year progresses.

A look back at 2024 shows Vietnam's cement sector was already on a growth trajectory, producing 184Mt for the full year - a 3.5% increase compared to 2023. The revised statistics provide a solid base for the ongoing uptrend witnessed this year.

Several factors are likely contributing to this rising trend, including increased infrastructure projects, urban development, and industrial expansion efforts within the country. Vietnam's cement industry appears well positioned to sustain its growth trajectory heading into the final quarter of 2025 and beyond.

Vietnam thus continues to strengthen its role as a significant cement producer in the Southeast Asian region, supported by favorable market dynamics and investment in construction

☛ Cement Market Developments:

United States:

✅ In July 2025, Cemex USA invested in carbon-neutral cement technology to support green construction projects.

✅ In June 2025, Buzzi Unicem USA developed high-performance cement for durable infrastructure applications.

Japan:

✅ In August 2025, Mitsubishi Materials launched specialty cement for high-rise and industrial construction.

✅ In May 2025, Shimizu Corporation partnered with chemical engineers to produce advanced cement with improved longevity.

☛ Cement Market Competitve Landscape:

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.

Research Methodology

We follow a hybrid research approach, combining qualitative insights with rigorous quantitative analysis to deliver reliable and comprehensive market intelligence. Our process begins with extensive secondary research, drawing on trusted industry reports, proprietary databases, and credible market sources. This is then reinforced through targeted primary research, including structured surveys and in-depth interviews with industry leaders, subject matter experts, and key market participants.

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☛ Segment Covered in the Cement Market:

By Type: Portland | Blended | Others

By Cement Grinding Technologies: Ball Mills | Vertical Roller Mills | Roller Presses | Others

By Application: Commercial and Infrastructure | Residential | Industrial

☛ This Report Includes:

✔ Comprehensive go-to-market strategies with actionable insights.

✔ Unbiased evaluation of overall market performance.

✔ Deep-dive analysis into development trends, competitive landscape, supply-demand dynamics, YoY growth, benchmarking, vendor mapping, market access, and overall progress.

✔ Tailored regional and country-level reports with detailed localized analysis available on request.

✔ Identification of niche segments and high-growth regions presenting strong opportunities.

✔ Accurate regional forecasts using both top-down and bottom-up approaches.

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☛ Regional Analysis for Cement Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

☛ FAQ's

Q1: What is the current size of the Cement Market and its future potential?

A: Cement market reached USD 392.5 billion in 2022 and is expected to reach USD 703.7 billion by 2031

Q2: How fast is the Cement Market expected to grow in the coming years?

A: The market is forecast to expand at a robust CAGR of 6.2% between 2025 and 2032, signaling strong global growth and investment potential.

Q3: Which regions are dominating the Cement Market and which are fastest-growing?

A: North America dominating the Cement Market.

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