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The global cement market reached a volume of 4.91 Billion Tons in 2020.
We expect the global cement market to exhibit a CAGR of around 5% during 2021-2026.
A significant rise in construction activities pertaining to the development of mega infrastructure projects along with the elevating levels of urbanization are currently driving the global cement market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in the temporary halt in numerous construction activities, thereby limiting the demand for cement.
Based on the type, the global cement market has been bifurcated into blended, portland, and others. Currently, blended cement holds the majority of the total market share.
Based on the end use, the global cement market can be segmented into residential, commercial, and infrastructure. Among these, the residential sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global cement market include CNBM International Corporation, Anhui Conch Cement Co., Ltd., Jidong Development Group Co., Ltd., LafargeHolcim Ltd, HeidelbergCement AG, etc.
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