Need for Advanced Production Methods Shaping Global Cement Market

Cement forms the backbone of the infrastructure sector since it is the prime ingredient used for building houses, roads, bridges, and other public structures. Most countries have their own production units while only a small percent of cement is traded in the global market. This is because cement manufacturing is an energy-intensive process and therefore it becomes uneconomical to transport it over longer distances. By the IMARC Group, the global cement market reached a value of US$ 385.8 Billion in 2023, market to reach US$ 629.9 Billion by 2032, exhibiting a CAGR of 5.4% during 2024-2032.

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Cement Industry Trends

In recent years, substantial growth in the demand for cement has been observed in emerging economies due to rising industrialization and urbanization. The developed economies, on the other hand, have observed either stagnant or declining growth as there were fewer ongoing infrastructure projects. However, the recovery in the construction sector is gradually leading to increasing demand for cement for residential and non-residential construction. Apart from this, the industry is facing challenges due to growing concerns regarding the environmental impact of cement production. Some of the major challenges include saving material and energy resources as well as reducing CO₂ emissions. Owing to this, cement manufacturers are introducing new production methods and formulations that help in reducing energy use and utilizing locally available raw materials.

Market Segmentation by Type and End-Use

Blended cement currently represents the most popular product type as it helps in conserving valuable limestone resources. Blended cement has other advantages as well, such as reduced corrosion and better cohesiveness, continuous increase in strength with time, and low drying shrinkage that aid in the durability and long life of concrete structures. On the other hand, Portland cement is the most common type of cement produced by heating sources of lime, silica, iron, and alumina. Another major product category is white cement, which is widely used in ornamental and decorative works and for producing brightly colored concretes and mortars. 

On the basis of end-use, the market has been segmented into residential, commercial, and infrastructure sectors. At present, the residential sector is the leading end-use segment of cement, accounting for the majority of the overall market share. The constantly rising population coupled with an increasing number of nuclear families in developing regions has increased the need for shelter and housing.

CNBM represents the world’s largest cement producer

Currently, Asia Pacific exhibits a clear dominance in the global cement market. With the growing population and income levels, housing projects in the region have increased. This has stimulated the demand for cement across the region. The Asia Pacific is followed by North America, Europe, India, Latin America, the Middle East, and Africa.

The global cement market is highly fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of price and quality. China National Building Materials (CNBM) currently represents the world’s largest cement producer. The other key players operating in this market include Anhui Conch, Jidong Development, Lafarge Holcim, and Heidelberg Cement.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the cement industry and regional West Africa, GCC, which has enabled the clients to successfully set up and expand their businesses. Some of the company’s offerings include:

• Market Research
• Plant Setup
• Plant Expansion
• Marketing and sales
• Procurement and Distribution
• Innovation and Product Development