The global cement market size is expected to worth USD 463.0 billion by the end of 2026 on account of rising industrialization and urbanization activities worldwide. Fortune Business Insights™ in their report titled, “Cement Market Size, Share & Industry Analysis, By Type (Portland, Blended, and Others), By Application (Residential, and Non-Residential), and Regional Forecasts, 2019-2026” presents a comprehensive overview of the market. According to this report, the market value was USD 312.5 billion in 2018 and is expected to grow at a CAGR of 5.2% within the forecast period of 2019 to 2026.
Rising Industrialization and Urbanization Activities to Promote Market Growth
Increasing population worldwide is having a direct impact on the construction industry to meet the growing need for residential and commercial spaces. Moreover, the rise in demand for facilities such as industries, offices, roads, airports, malls, and other such buildings are further expected to increase the demand for construction activities. This ultimately propels the demand for cement in the market as cement is an essential commodity serving any construction purpose. Therefore, rising need for industrialization and other developmental activities are expected to attract high cement market revenue in the forecast period.
Additionally, the changing lifestyle of people has increased the need for urbanization. This is ultimately increasing the demand for infrastructure and building construction activities worldwide. Construction of buildings for recreational and transport purposes such as airports, roads, flyovers, multiplexes, medical infrastructures, and others are further prognosticated to help accelerate high cement market shares in the coming years.
To get a detailed report summary and research scope of this market, click here:
Key Segments of Cement Market
- Type- The type segment is further categorized into blended, Portland, and others. Out of these, the blended segment will hold the largest market share owing to its features such as improved pump and workability, less crack formation out of thermal stress, reduced water demand, and others. Additionally, rise in demand for blended cement from various applications such as road construction, mining, building construction, and others are further anticipated to help increase the overall cement market size in the forecast period.
- Applications – With respect to segmentation by Application, the market is classified into residential and non-residential sectors. Among these, the non-residential segment is dominating the market. This is because non-residential activities include the construction of commercial complexes, dams, roads, transportation hubs, stadiums, and other industrial buildings. An increase in Infrastructural activities and rise in construction of education and healthcare infrastructures are expected to attract high revenue for the cement market through this segment in the forthcoming years as well.
- Region – Geographically, the market for cement is widespread into major regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific was dominating the market in 2018 on account of the industrial and urbanization activities going on at the time. Furthermore, the cement market analysis foretells the domination of Asia Pacific in the coming years on account of rising demand for cement from Southeast Asian nations that are experiencing a surge in construction activities. Currently, China stands as the dominant manufacturer and consumer of cement on a worldwide basis.
Geographical Expansion of Companies to Help Increase Overall Market Size
The competitive landscape of the cement market is highly diversified based on the presence of numerable players. Cement market manufacturers are focusing on geographical expansion to gain high cement market shares in the forthcoming years. Key strategies adopted by players include expansion of regional presence, distribution channels, mergers and acquisitions, company collaborations, product launches, and product offerings.
Recent key industry developments of the cement market include:
- January 2019 – Alex Fraser Group was acquired by a subsidiary of HeidelbergCement, namely Hanson Holdings Australia Pty Limited (Hanson Australia). The main aim behind this acquisition was to gain expertise in the recycling of construction and asphalt materials that would add compliment to the existing business of the company.
- March 2019 – An agreement was signed between TEKFEN Ventures, an industrial venture company dealing in agriculture, manufacturing, construction, and real estate sectors, and CEMEX ventures. This collaboration aims at identifying and supporting innovation in building technology and materials for the construction on a global basis.
List of the significant players in cement market research report are as follows;
- Drake Cement LLC
- The Siam Cement Group
- Taiheiyo Cement Corporation
- CNBM International Corporation
- CRH plc
- Mitsubishi Cement Corporation
- Titan Cement Company S.A.
- Argos USA Corporation
- Votorantim Cimentos
- Buzzi Unicem S.p.A.
- Aditya Birla Ultratech
- Other Key Players
The global cement market is segmented in the following manner:
Value (USD Billion) and Volume (Million ton)
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, Poland and the Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Southeast Asia, and the Rest of Asia-Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- Middle East & Africa (Saudi Arabia, Egypt, Turkey, Iran, Algeria, Iraq, and the Rest of Middle East & Africa)