Global Cement Market to be driven at a CAGR of 3.3% in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Cement Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global cement market, assessing the market based on its segments like types, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2021-2026)

Historical Market Size (2020): USD 5.17 Billion
Forecast CAGR (2021-2026): 3.3%
Forecast Market Size (2026): USD 6.08 Billion

The growth of the global cement market is driven by rapid urbanisation and increasing construction activities. Rising number of residential project development in emerging economies, is further expected to propel the market growth. Moreover, rapidly growing global population and number of nuclear families along with rising per capita incomes fuels the demand for residential accommodation. Additionally, increasing infrastructure such as airports, malls, shopping complex, stadiums, and bridges among others will further aid in the growth. However, the energy-intensive process and health concerns such as lung cancer associated with cement manufacturing process may restrain the growth of the global market over the forecast period.

Industry Definition and Major Segments

Cement refers to a binding agent used in construction activities for setting and adhering materials together. It is commonly used along with sand and gravel to produce concrete and other fine aggregates to form mortar. Cement is considered as one of the important commodities for developing economies.

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On the basis of type, the industry is divided into:

Blended
Portland
Others

Based on end use, the cement market is segmented into:

Residential
Commercial

The regional markets for cement include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Trends

Regionally, the Asia Pacific is projected to be the largest shareholder and witness the fastest growth in the global market for cement. This can be attributed to the high cement consumption in developing countries such as China, India, and ASEAN, owing to rapidly developing residential and commercial infrastructure. Additionally, China holds a dominant share in the global cement production and consumption. Meanwhile, North America and Europe re expected to witness steady growth owing to swift industrialisation, urbanisation, and high disposable income. However, Latin America and Middle East and Africa are expected to witness robust growth owing to the increasing infrastructural development projects over the forecast period.

Key Market Players

The major players in the market are CEMEX S.A.B. de C.V., HeidelbergCement AG, CNBM International Corporation, InterCement, Ultratech Cement Limited (Aditya Birla Group), and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.