Cement Market Size, Share, Growth Analysis, By Type (Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC)), By Application (Residential, Commercial), By Region - Industry Forecast 2024-2031
Global Cement Market size was valued at USD 326.81 billion in 2022 and is poised to grow from USD 343.48 billion in 2023 to USD 537.43 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).
Residential construction demand is on the rise due to population growth, significantly boosting global cement consumption. This surge is further fueled by the increasing need for public infrastructure and non-residential buildings, including hospitals and healthcare facilities. However, the COVID-19 pandemic severely disrupted operations and production, with countries like China reporting an 8.2% decline in cement output early in 2020. Despite these setbacks, recovery began with an 8.6% increase in May 2020. Looking ahead, the global cement market is poised for growth driven by rising infrastructure demands in education and healthcare, particularly in emerging economies like India, Malaysia, and Indonesia. Nevertheless, the industry faces environmental challenges, including carbon emissions and resource depletion, which need to be addressed as it expands.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cement market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Cement Market Segmental Analysis
Global Cement Market is segmented by Type, Application and region. Based on Type, the market is segmented into, Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), White Cement, Portland Blast Furnace Slag Cement (PBFSC), Blended Cement (Low Carbon Blended Cement, Other Blended Cement), Others. Based on Application, the market is segmented into Residential, Commercial & Industrial, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Cement Market
The Global Cement Market is experiencing significant growth driven by an upsurge in construction activities fueled by an increasing need for residential spaces, including apartments and private homes, amid a rising population. As the demand for amenities in residential areas escalates, the cement industry is anticipated to expand rapidly. Additionally, the rising need for non-residential constructions, such as shopping malls, airports, factories, roadways, and office complexes, is expected to further propel market growth. Urbanization driven by job opportunities and improved living standards, along with government initiatives supporting construction and infrastructure development in emerging economies, will likely enhance demand for cement. Further, the increasing requirement for precast products like blocks, panels, and roof tiles is set to contribute positively to global cement consumption.
Restraints in the Global Cement Market
The global cement market faces significant constraints due to stringent government regulations aimed at controlling carbon emissions. The production of cement involves raw materials like limestone, chalk, shale, clay, and silica sand, but it also has detrimental effects on both the environment and human health. The inhalation of dust from the manufacturing process can cause respiratory issues, while the industry is a major contributor to pollution, ranking as the third-largest industrial polluter in the U.S. by the Environmental Protection Agency. Consequently, the implementation of various environmental regulations seeks to mitigate these adverse effects, ultimately hindering the growth of the cement market.
Market Trends of the Global Cement Market
The Global Cement market is witnessing a significant trend towards the adoption of green cement, driven by increasing demand for environmentally friendly and sustainable construction practices. This shift is bolstered by innovative carbon-negative manufacturing technologies that reduce emissions during production, aligning with global sustainability goals. As governments and construction firms prioritize eco-friendly solutions, the adoption of green cement is expected to enhance market growth prospects. This focus on sustainability not only mitigates pollution but also appeals to a growing consumer base that values environmentally responsible building materials, positioning green cement as a crucial segment in the future of the cement industry.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Case Studies
Customer & Buying Criteria Analysis
Trade Analysis
Raw Material Analysis
Global Cement Market Size by Type & CAGR (2024-2031)
Market Overview
Ordinary Portland Cement (OPC)
Portland Pozzolana Cement (PPC)
White Cement
Portland Blast Furnace Slag Cement (PBFSC)
Blended Cement
Low Carbon Blended Cement
Other Blended Cement
Others
Global Cement Market Size by Application & CAGR (2024-2031)
Market Overview
Residential
Commercial
Industrial
Others
Global Cement Market Size & CAGR (2024-2031)
North America, (Type, Application)
US
Canada
Europe, (Type, Application)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific, (Type, Application)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America, (Type, Application)
Brazil
Rest of Latin America
Middle East & Africa, (Type, Application)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2023
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2021-2023)
Key Company Profiles
Heidelberg Materials (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Holcim Ltd (Switzerland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
CEMEX S.A.B. de C.V. (Mexico)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
UltraTech Cement Limited (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
CRH plc (Ireland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Siam Cement Group (Thailand)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Dangote Cement (Nigeria)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Buzzi Unicem S.p.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsubishi Materials Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Titan Cement Company S.A. (Greece)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Votorantim Cimentos (Brazil)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
InterCement Participacoes S.A. (Brazil)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
China National Building Material Co., Ltd. (China)