Cement Market - By Product (Portland, Others), By Application (Residential, Non-residential/Infrastructure), By Region (North America, Europe, Middle East & Africa, Asia Pacific and South America) and Industry Analysis, Opportunity and Forecast 2020 To 2027

The global cement market size was valued at USD 322.5 billion in 2020 is anticipated to extent USD 465.0 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period. Cement has properties of a binder substance that's used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is manufactured through a controlled chemical combination of calcium, silicon, aluminum, iron and other ingredients. Concrete is the most commonly used material in existence and is behind only water as the planet's most-consumed resource. The raw material used in the production of cement includes limestone, chalk, shells, shale, clay and silica sand. Categorized 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 divided into two kinds hydraulic and non-hydraulic. Key Players operating in the market are Aditya Birla Ultratech, CNBM International Corporation, CEMEX S.A.B. de C.V., HeidelbergCement AG, Taiheiyo Cement Corporation, Titan Cement Group, Italcementi, InterCement, LafargeHolcim, SCG, Votorantim, and Anhui Conch Cement.
Analyst Commentary
Increasing prerequisite for the construction of institutional buildings for education and healthcare sectors is anticipated to drive the market in the coming years. Healthcare sectors in evolving countries such as India, Malaysia, Indonesia, etc. are registering strong growth. For instance, protruding 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 boost the sales of cement. Moreover, 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. The growing acquiring power of the consumers and industrialization are some of the factors that are expected to create a positive outlook for the market.
Segmentation
Global cement market is segmented on the basis of product and application On the basis of product the market is segmented as Portland and Others. The durability and high strength of the product and its extensive practice in the construction of residential, commercial, and industrial units are anticipated to boost the market. Further the application segmented includes Residential and Non-residential/Infrastructure. Large projects such as China’s One Belt and One Road (OBOR) infrastructure program are likely to stir up the demand for cement during the forecast period. For example, on August 2017, construction work was started on the East Coast Rail Link project to link Malaysia’s east and west regions. Increasing urbanization is resulting in steady growth of cities, which successively is estimated to contribute to the expansion of the segment.
Regional Analysis
Geographically, the global cement market is segmented on the basis of region namely, North America, Europe, Middle East & Africa, Asia Pacific and South America. Asia Pacific controlled the market in the forecast period. The regional market is driven by spiraling demand for affordable housing from developing economies like India and China. Increasing income levels, rapid urbanization and rising population in these economies are anticipated to promote residential construction. North America is dignified to experience healthy growth in terms of revenue during the forecast period. Rising popularity of single-family units in countries such as the U.S. and Canada is expected to generate demand for residential construction, thereby boosting the uptake of cement market. The Middle East & Africa is projected to witness significant growth. This growth is due to the increasing demand for cement from the growing infrastructural activities in the region.
Segmentation
By Product
• Portland
• Others
By Application
• Residential
• Non-residential/Infrastructure
By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America