Cement Market Size, Share, Growth, Trends and Industry Outlook Report
by Susan Hill Business ConsultantThe
global cement market size is expected to reach USD 682.3
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 7.8% during the forecast period. The market is
anticipated to register rapid growth due to growing infrastructural development
across the globe.
The global
infrastructure investment is dominated by countries such as India, China, and
the U.S. Soaring need for infrastructure upgrade and modification in the U.S.
is likely to fuel the demand for cement over the forecast period.
Demand for
residential properties is growing due to increasing urbanization and rising
household income. In addition, improving economic conditions in countries such
as India and China is stimulating the demand for retail and commercial spaces.
Both countries are estimated to observe a remarkable rise in establishments in
urban areas over the forecast period, thus providing a fillip to the cement
market.
Aditya Birla
Ultratech, CNBM International Corporation, CEMEX S.A.B. de C.V.,
HeidelbergCement AG, Italcementi, InterCement, LafargeHolcim, SCG, Taiheiyo
Cement Corporation, Titan Cement Group, Votorantim, Mitsubishi Cement
Corporation, Alamo Cement Company, Argos USA Corporation, ESSROC Cement
Corporation, Drake Cement LLC, and Anhui Conch Cement are some of the prominent
companies operating in the market.
Further Key
Findings from the Report Suggest:
- Portland cement
accounted for close to 90.0% of the overall revenue in 2016. Properties
such as high strength and durability exhibited by this type are likely to
trigger its demand over the forecast period
- On the basis of
product, the others segment is expected to register a CAGR of 6.6% over
the forecast period. Prices of other cements are expected to decline in
the coming years, which, in turn, is expected to drive the market.
- Supportive
regulations and favorable government policies, such as Housing for All and
smart cities in India, are expected to trigger the demand for cement in
residential and commercial applications in developing and underdeveloped
countries
- The Cement
Action Plan is a part of the World Business Council for Sustainable
Development´s (WBCSD) Low Carbon Technology Partnerships initiative
(LCTPi) to accelerate the deployment of low-carbon solutions in the cement
industry. Policies and government initiatives related to this plan are
projected to augment the market over the forecast period.
- Regional
expansions and R&D are the key strategies adopted by major players to
strengthen their position in the cement market as smaller companies are
keen to collaborate with key players to strengthen their foothold in the
global arena
- In July 2014,
Aditya Birla Ultratech acquired 2 units of Jaiprakash Associates in order
to increase the firm’s production capacity to 100 metric tons per year by
2020.
Access
full research report on global cement market:
www.grandviewresearch.com/industry-analysis/cement-market
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Created on Dec 12th 2019 06:33. Viewed 376 times.