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The global cement market reached a volume of 4.91 Billion Tons in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Cement refers to a binding material widely used for construction purposes that is manufactured by grinding a mixture of clay and limestone. Numerous other materials, such as shale, clay, slate, chalk, silica sand, iron ore and blast furnace slag, are heated at high temperatures to form a rock-like substance that is grounded into fine powder to form cement. Characterized by a grey color, it is mixed with water to form a hard mass that is used as an adhesive for masonry. Depending upon its ability to set in the presence of water, cement is largely bifurcated into two kinds – hydraulic and non-hydraulic. While hydraulic cement sets due to the chemical reaction between water and the dry ingredients, non-hydraulic cement offers optimal resistance against chemicals by reacting with the carbon dioxide in the environment.
Global Cement Market Drivers:
The market for cement is primarily driven by a significant rise in construction activities across the globe. Owing to rapid population expansion, there has been a substantial rise in the need for residential spaces, which has facilitated the construction of housing complexes. The development of mega infrastructure projects around the world, especially in emerging economies, is acting as another major growth-inducing factor. For instance, prominent infrastructural projects, such as the construction of Al Maktoum International Airport in Dubai and the South-North Water Transfer Project in China, are expected to significantly bolster the sales of cement. In line with this, governments of various countries across the globe are investing heavily to enhance the existing infrastructure, which is projected to further contribute to the market growth. Growing environmental concerns, coupled with technological advancements in the production process, is also driving the market toward growth. For instance, the inclusion of thermal energy in the manufacturing of cement ensures a low carbon footprint, owing to which it is being widely adopted by the manufacturers. Additionally, an enhanced focus toward sustainable development has resulted in shifting preference toward green construction. Escalating demand for green buildings has led to an increase in the sales of sustainable and green cement as it minimizes CO2 emissions generated during their production. The increasing purchasing power of the consumers and industrialization are some of the other factors that are expected to create a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cement market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on type and end-use.
Breakup by Type:
Among these, blended cement represents the most preferred type.
Breakup by End Use:
At present, the residential segment exhibits a clear dominance in the market.
Currently, Asia Pacific holds the leading position in the market, accounting for the majority of the total market share.
The competitive landscape of the market has been studied in the report with the detailed profiles of the cement manufacturing companies operating in the market. Some of these players are:
|Base Year of the Analysis||2020|
|Units||Billion Tons, US$ Billion|
|Segment Coverage||Type, End-Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||CNBM International Corporation, Anhui Conch Cement Co., Ltd., Jidong Development Group Co., Ltd., LafargeHolcim Ltd and HeidelbergCement AG|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option|
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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