Cement is referred to as one of the most used materials worldwide owing to the widespread use of it in construction activities
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Market Insights:
Cement is a substance used mainly in the construction industry. It is a binder which sets, hardens, and adheres to the materials to bind them together. Cement is referred to as one of the most used materials worldwide owing to the widespread use of it in construction activities. The global cement market is anticipated to expand at an 8% CAGR over the forecast period, as per the latest analysis released by Market Research Future (MRFR).
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Accelerating disposable income and increasing number of nuclear families have led to a growing need for construction over the globe. This, in turn, is driving influential growth in the global cement market. Further, a rising need for housing, mushrooming penetration of urbanization have pushed the global cement market growth to the next level. Governments across the globe have launched initiatives for the provision of good infrastructure facilities, roads, as well as bridges, propelling the consumption of cement over the forecast period. However, the rising cost of production of cement has made the accessibility to good quality cement difficult for consumers. This has hampered market growth over the assessment period.
Competitive Analysis:
The global cement market is highly influenced by various strategies applied by the vendors present in the market. The gaps in the market are expected to be bridged, owing to the execution of appropriate supply chain strategies. Additionally, several market players:
Holcim Ltd
Lafarge
Anhui Heidelberg Cement AG
Conch Cement Company Ltd
China National Building Material Company Ltd.
CEMEX S.A.B. de C.V.
Jidong Development Group Co. Ltd.
Mitsubishi Materials Corporation
UltraTech Cement Limited
Shanshui Cement Group Ltd
Segmental Analysis:
The global cement market is studied for various segments in the recent Market Research Future (MRFR) report. This segmentation has been carried out on the basis of type, application, and region. Based on type, the global cement market is segmented into rapid low heat cement, hardening cement, high alumina cement, colored cement, white cement, and hydrographic cement. Based on application, the global cement market is studied for the segments of construction and infrastructure.
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Detailed Regional Analysis
The global cement market is analyzed for the regional segments of North America, Asia Pacific (APAC), Europe, and the Rest of the World. The cement market is significantly dependent on global construction and building activities. Among these regions, the global cement market is dominated by Asia Pacific. This can be attributed to the rising population in the region. Mainly, in developing countries such as India and China, the proliferation of population has led to ascension in need of housing and accommodation. This, in turn, has led to the unparalleled growth of the construction industry in the APAC.
With a rise in construction activities, the regional cement market is bound to witness burgeoning demand during the forecast period. Apart from that, the governments residing in the region have announced many supportive initiatives which have propelled growth in the infrastructure industry, hence, prompting sizeable growth in the APAC region’s cement market. For instance, the Government in India has introduced initiatives like the Smart City Project and StartUp India, which have created gigantic needs for magnified infrastructural development. This, in turn, has contributed to the heavy consumption of cement in the country.
North America is anticipated to follow Asia Pacific and fetch the second-largest share of the global cement market. Europe is observed to trail behind Asia Pacific and North America, capturing the third-largest share in the global cement market.
Industry Update
July 2019: Century Cement and Ultratech Cement are expected to complete their merger by September. This merger is bound to give Ultratech leadership in all regional markets.
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