The latest report by IMARC Group, titled “Portland Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global Portland cement market reached a volume of 2.1 Billion Tons in 2021. Portland cement is a grey-colored inorganic substance that is used in various construction activities. It consists of four compounds, namely, dicalcium silicate, tricalcium silicate, tricalcium aluminate, and tera-chemical aluminoferrite. It is manufactured by combining elements such as calcium, silicon, iron, aluminum, limestone, shale, and clay. These materials are readily available and occur naturally, making them cost-efficient. Portland cement offers high durability and strength with excellent binding properties. As a result, it is increasingly used in the construction of high-rise buildings, dams, bridges, tunnels, and residential complexes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Portland Cement Market Trends:
The market is primarily driven by the increasing demand for Portland cement in the construction industry for manufacturing stucco, grout, concrete, and mortar. Besides this, governments of various countries are undertaking development activities for providing better connectivity to remote areas. In addition to this, they are extensively investing in the infrastructure sector to construct roads, dams, and foundations, especially across emerging economies like India, China, and Brazil, which is significantly influencing the market growth. Furthermore, rapid urbanization and industrialization, and easy availability of raw materials are also positively impacting the demand for Portland cement across the globe. Looking forward, the market is expected to reach a volume of 2.7 Billion Tons, exhibiting a CAGR of 4.0% during the forecast period (2022-2027).
- Based on the type, the market has been segmented into types 1, 2, 3, 4, and 5.
- On the basis of the application sector, the market has been classified into residential, commercial, and industrial.
- The market has been categorized based on the packing type into 10 kg, 15 kg, 25 kg, and others.
- On the basis of the import-export market, the market has been segregated into import and export.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, and others), Europe (Germany, the United Kingdom, and others), Latin America (Brazil, Argentina, and others), and Middle East and Africa (Saudi Arabia, South Africa, and others).
- The competitive landscape of the market has been examined, with some of the key players being Mitsubishi Cement Corporation, Alamo Cement Company, Lafarge SA, Martin Marietta Materials, Heidelberg Cement AG, The National Cement Company Inc., American Cement Company, Holcim Limited, Argos Limited, Essroc Cement Corp, China National Building Material Corporation Limited, Salt River Materials Group, Italcementi SpA, Anhui Conch Cement Company Limited, Ash Grove Cement Company, Tanzania Portland Cement Company Limited, The Quikrete Companies, CalPortland Company, Capitol Aggregates Inc., CEMEX S.A.B. de C.V., GCC of America, Lehigh Hanson Inc., The National Cement Company of Alabama, Inc., Ultratech Cement Limited, and BuzziUnicem USA.
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