Cement Market, Trends, Share Analysis And Forecast To 2030
Cement Market-Overview
The universal demand for cement
has grown steadily in the past decades as global construction activities gain
momentum. Reports created by MRFR detail the developments in the industry that
can be expected in the market through the forecast period. Cement Market is
projected to be worth USD 494.61 Billion by 2030, registering a CAGR of 6.20%
during the forecast period (2021 - 2030) The development of infrastructural
plans in several developing countries is estimated to create optimistic
traction for the Cement
Market share. Moreover, robust investment schemes directed at
the expansion of the cement production capacity is predicted to further promote
Cement Market development.
Segmental Analysis
The segmental investigation of
the cement market is carried out on the basis of type, end-use, and regions.
The type segment of the cement market consists of Portland cement and others.
The widespread use of Portland cement in all generic types of construction
purposes is a notable driver for the segment. The Portland cement segment can
be divided further based on its physical and chemical properties. The end-user
segment of the cement market is segmented into commercial construction,
residential construction, and infrastructure. The commercial construction
segment is likely to control the Cement Market in the forecast period. The
regional segment of the cement market comprises of the Asia Pacific, the Middle
East, Europe, Latin America, North America, and Africa.
Detailed Regional Analysis
The regional examination of the
cement market comprises of the Asia Pacific, the Middle East, Europe, Latin
America, North America, and Africa. The presence of China and India as major
cement producers in the Asia Pacific region led the region to hold the largest
segment for the international cement market in 2018 and is anticipated to be
the speediest mounting region in the forecast period. As there is an elevated
demand for cement in the region with the US contributing heavily to the use of
cement in the region, the North American region controlled the second major
segment owing to an active infrastructural and commercial segment. The presence
of excellent limestone reserves and proximity to more important markets such as
Canada and the US sare encouraging the cement regional market growth. The
speedy industrialization and urbanization reinforced by the government of the
region are compelling factors for the advancement of cement in the region. The
European underwater
cement due to the stringent standards relating to regulatory, legal,
and environmental aspects that back the approval of cement as a binder for
dissimilar purposes owing to cement being less damaging to the environment and
cost-effective over the other binding agents. The cement market of the Latin
American region contributes a strong share in the global market, with countries
such as Mexico and Brazil that are leading the charge for regional market
progress.
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Competitive Analysis
The scale of innovation being
observed in the market is another reason that is adding to the advancement of
the global market in the future. The detrimental impact on the environment by
the business practices is estimated to be a key component in the future growth
strategies of the market. The funding scenario in the market is estimated to be
optimistic and conducive to the development of the stakeholders in the market.
The advancement of the market is spurred by the initiatives of the leaders in
the global market, who are dedicating resources to the development of the
overall market. The government policies in several regions are very conducive
to the development of the market in the upcoming period. The advancement of
production technology and processes is estimated to augment the global market.
The establishment of clear long-term objectives by market titans is estimated
to set the tone for the continuing expansion of the market. The identification
of areas for sustainable enhancement in the supply chain is estimated to
further fortify the market.
The central contenders in the
cement market are HeidelbergCement AG (Germany), CEMEX S.A.B. de C.V. (Mexico),
Titan Cement (Greece), Votorantim (Brazil), Wonderful Sky Financial Group
Limited (China), LafargeHolcim (France), BBMG Corporation (China), Anhui Conch
Cement Company Limited (China), sunnsy (China), Mitsubishi Materials
Corporation (Japan), SCG (Thailand), Aditya Birla Management Corporation Pvt.
Ltd (India), InterCement (Brazil), TAIHEIYO CEMENT CORPORATION (Japan), and
Shree Cement (India).
Industry Updates:
Mar 2021 Lemi National Cement
Industrial Complex, a novel private industrial park, is ready to be built in
the Amhara region of Ethiopia by private backers. The USD 2.2bn complex is
anticipated to feature many different factories, such as10,000tpd cement plant.
The other factories to be constructed at the park consist of board, gypsum, and
glass manufacturing. The novel park is possessed by East Africa Holdings, the
company which also manages National Cement. China’s West International Holding
is also a project partner and the construction is anticipated to last between
5-7 years.
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