According to the latest report by IMARC Group, titled "India Cement Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India cement market is expected to exhibit a CAGR of 4.94% during 2023-2028. Cement refers to a grey-colored binding material that is obtained by combining a mixture of clay and limestone with water. It can also contain various other materials, such as slate, shale, chalk, silica, iron ore and blast furnace slag. These materials are generally heated at a high temperature to form a brick-like substance that can be grounded into fine powder to form cement. Cement is often characterized by excellent physical and chemical properties, including exceptional durability and strength. Consequently, it forms a critical material across the construction sector for building roads, houses and other civil projects.
India Cement Market Trends:
The market in India is majorly driven by the significant growth in the construction sector. With the rapid population growth in the country and the expansion of the residential sector, there has been a rising demand for construction materials, such as cement. Increasing investments by public and private agencies in infrastructural development projects across the country are also providing an impetus to the market growth. Furthermore, due to an enhanced focus on sustainable development, there has been an escalating preference for green construction across India. This has resulted in boosting the sales of green cement across the country, which, in turn, is propelling the market growth. Some of the other factors contributing to the market growth include rapid industrialization, the introduction of cement with additional physical strength and continual technological advancements in cement production.
- On the basis of the type, the market has been divided into blended, portland and others.
- Based on the end use, the market has been classified into residential, commercial and infrastructure.
- On the geographical front, the market has been categorized into North India, West and Central India, East India and South India.
- The competitive landscape of the market has been examined, with some of the key players being Ambuja Cements Ltd, Birla Corporation Limited (MP Birla Group), Dalmia Bharat Limited, Deccan Cement Limited, HeidelbergCement India Limited (HeidelbergCement AG), India Cements Ltd, JK Lakshmi Cement Ltd, Orient Cement Ltd, Shree Cement Limited, The Ramco Cements Limited and UltraTech Cement Limited.
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