According to a new market report published by Credence Research “Cement Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024,” the global cement market is expected to reach over US$ 725 Bn by 2025, expanding at a CAGR of 7.3% from 2017 to 2025.
Browse the full Cement Market by type Portland cement, blended cement and others; by end-use, residential, nonresidential and infrastructure; by geography, North America, Europe, Asia Pacific, Latin America and Middle East & Africa – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/cement-market
Cement demand is expected to grow at a rate of 7.3% between 2017 and 2025; factors such as increasing urbanization and industrialization are currently fuelling the growth of the global cement market. In terms of value, Asia-Pacific dominates the cement market accounted for over 70% share of the global cement market in 2016. China is the largest in terms of value and volume, accounted for over 65% of Asia-Pacific cement market in 2016. China is followed by India, which is the fastest growing market and holds the second position in terms of volume consumption.
The cement demand relies on construction and building activities, thus infrastructure development. Cement is the major ingredient for concrete and mortar which are used in the construction industry. Hence, rise in construction or building activities worldwide will largely spur the market. Also factors that could influence the rise in the worldwide market include escalating number of nuclear families, rising need for accommodation, development in technology and commercial establishments, and escalating disposable income.
Cement industry is highly fragmented with existence of large, medium, and small manufacturers across the world. Lafarge is the largest manufacturer and holds the major market share in the cement market, globally. Producers are also involved in development in manufacturing of colored cement to cater the changing demand of end-use customers. Anhui Conch Cement Co., Ltd., CEMEX S.A.B. de C.V., China National Materials Co., Ltd., Eurocement Group, UltraTech, Taiheiyo Cement Corporation, Heidelberg Cement AG, LafargeHolcim Ltd., China Tianrui Group Cement Company Limited, China Shanshui Cement Group Ltd., Buzzi Unicem S.p.A., CIMPOR – CIMENTOS DE PORTUGAL, SGPS, S.A., Siam Cement Group Public Company Limited, Jaypee Group, Vicat SA, Dangote Group, Fars & Khuzestan Cement Co., OYAK (Ordu Yardimlasma Kurumu) Cimento A.S., Cementir Holding S.p.A., Ramco Cements Ltd., Mitsubishi Materials Corporation, TPI Polene Public Company Ltd., Limak Holding A.S., Saudi Cement. ITD and JK Cement Ltd. are the few key manufacturers in cement market.
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- Revival of the construction industry post economic recession
- Huge demand from Asia-Pacific construction industry is expected to drive the future growth
- High energy intensive manufacturing process and GHG emission is expected to restrain the growth of cement industry
- Use of new technologies alternative fuels for lowering GHG emission and energy consumption