Global Cement Market Size, Share, Growth Analysis, By Type(Portland, Blended), By Application(Residential, Non-Residential) - Industry Forecast 2022-2028

The Global Cement Market is segmented based on Type, Application, and Region. Based on the Type, the Cement Market is segmented into portland, blended, and others. Based on the Application, the Cement Market is segmented into residential and non-residential. Based on Region, Cement Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Cement Market Analysis by Type

Based on type, the global cement market is divided into three categories: portland, mixed, and others. Due to the rapidly growing demand from various applications, the blended segment is expected to have a significant share in the market. Because of its qualities, such as reduced water requirement, enhanced workability and pumpability, and reduced crack development due to thermal stress, the blended sector has the biggest Cement Market share. The blended section is made up of base portland to which other ingredients like limestone, slag, and pozzolana are added to produce other mixes. The rising demand for mixed kinds from industries such as construction, road construction, and mining are likely to boost the size of the cement market globally.

Portland is mostly used to make concrete, which is then utilized to make beams, panels, and megastructures like dams and roadways. It's also used in mortars and plasters, along with other materials like sand. Composite, tinted, quick-setting, low-alkali, and air-entraining cement are among the additional varieties. As a result, the rising demand for all of these types of diverse applications will significantly increase the market.

Cement Market Analysis by Application

On the basis of application, the global cement market is divided into residential and non-residential segments. The non-residential segment is predicted to be the most dominant over the forecast period. Due to rising infrastructure spending, the non-residential segment will be the largest share-holding segment of the market. Cement is utilized in this Cement Market for various uses such as road construction, dam construction, commercial establishments, industrial structures, stadium construction, and transportation hub construction. Demand for the commodity has increased as a result of rising urbanization and infrastructure developments. Furthermore, the industry is predicted to rise due to the growing need for hospitals and schools. The residential segment is expanding because of the increased global population and rising demand for residential space from developing countries in the Asia-Pacific, the Middle East, and Africa.

In 2021, Asia Pacific held the most dominating share in the global cement industry and this is likely to continue during the projection period. This is due to rising demand from developing countries such as China and India, as well as Southeast Asian countries. Construction and infrastructure activity growth is a major driver of this industry in the region. China, being the world's largest producer and consumer, is the most important contributor to regional market growth. The country's supremacy is linked to a number of causes, including the region's high population expansion and infrastructural building initiatives. Furthermore, the country's soaring demand for residential space will aid market expansion in China.

Other aspect influencing the growth of Cement Market in North America is the rising demand for public infrastructure. As a result of increased urbanization, Latin America will experience market growth. Other significant drivers that will drive the expansion of this market around the world are government efforts like housing schemes, the building of hospitals and educational facilities, and the development and maintenance of transportation infrastructure.

The Middle East and Africa are expected to rise significantly. This expansion is linked to rising infrastructural activity in the region, which has increased demand for the product. Another element propelling the Cement Market in the Middle East and Africa is its application in mining and oil exploration. The European market is expected to increase at a significant CAGR in the upcoming period.

Cement Market Driver

• Surging Construction Activities is Bolstering the Global Cement Market Growth: This is because of the increased need for residential spaces such as apartments and private bungalows, and the increasing population. Furthermore, the industry is predicted to rise faster as the demand for amenities in residential areas grows. In addition, the growing need for non-residential enterprises such as malls, airports, industries, roadways, and office buildings is predicted to fuel Cement Market expansion. The necessity for urbanization has arisen as a result of increased job opportunities and improved quality of life. Government measures to encourage construction and infrastructure development in developing countries will drive up demand even more. Moreover, the growing demand for precast items such as blocks, panels, and roof tiles will give a boost to global product consumption.

Cement Market Restraint

• Government Regulations Concerning Carbon Emissions will Limit Growth of Global Cement Industry: Limestone, chalk, shells, shale, clay, and silica sand are some of the raw materials utilized in the manufacturing process. Its manufacture has a number of negative consequences for the environment and human health. Inhaling dust particles can irritate the nose and throat, making it harder to breathe. Furthermore, the production of this commodity results in a significant amount of pollution. The cement industry, according to the US Environmental Protection Agency, is the third-largest industrial polluter, emitting more than 500 kilotons of nitrogen oxide, sulfur dioxide, and carbon monoxide per year. As a result of these problems, governments place numerous environmental rules on the manufacturing process. As a result, market growth is expected to be limited by this factor.

The Global cement manufacturers are located all over the world. It's resulting in a more diverse market structure. Producers in North America and Europe are striving to expand their presence in China and other Asian Pacific countries in order to boost their Cement Market positions and propel their businesses forward. The market's major players have built significant regional presences, distribution systems, and product offerings. Key players' implemented tactics, such as acquisition, new product development, and zero-carbon construction materials activities, are likely to grow their Cement Market presence and efficiently satisfy their customers' needs. By 2050, HeidelbergCement, for example, expects to make CO-neutral concrete.

Cement Market Top Player's Company Profiles

• Titan Cement Company S.A. (Greece)
• Aditya Birla Ultratech (India)
• Votorantim Cimentos (Brazil)
• Buzzi Unicem S.p.A. (Italy)
• InterCement (Brazil)
• LafargeHolcim (Switzerland)
• CRH plc (Ireland)
• The Siam Cement Group (Thailand)
• Mitsubishi Cement Corporation (U.S.)
• Argos USA Corporation (U.S.)
• CNBM International Corporation (China)
• Taiheiyo Cement Corporation (Japan)
• Drake Cement LLC (U.S.)
• CEMEX (Mexico)
• HeidelbergCement (Germany)

Cement Market Recent Developments

• In May 2022, the Adani group announced that it has acquired a controlling stake in Switzerland-based Holcim AG's cement businesses in India for $ 10.5 billion.
• In October 2021, Votorantim Cimentos through its Spanish subsidiary announced the acquisition of Cementos Balboa which is a modern integrated cement plant located in Alconera, Spain.

• Increasing green cement adoption will boost growth prospects. Cement Market expansion will be aided by the increasing use of green cement in the construction of environmentally friendly and sustainable structures. The product is created utilizing a carbon-negative manufacturing technology that minimizes pollution during unit operations as part of an effort to mitigate the harm presented by emissions.
• Lowering carbon emissions during manufacturing is a long-term strategy to address severe environmental issues by. Hima Cement, a LafargeHolcim affiliate, launched Fundi, a low-carbon masonry product that may be used in bricklaying, plastering, and mortar works, in 2021. Furthermore, the UN Environment Program (UNEP) advocates for the development and use of new environmentally sustainable and cost-effective products. Hence, such factors will flourish the demand for green cement in the coming years. This is likely to create a wide scope for the growth of the global cement industry in the upcoming years.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, the need for residential spaces such as apartments and private bungalows, and the growing population have been major drivers for the market for the given forecasted period. Furthermore, the industry is predicted to rise faster as the demand for amenities in residential areas grows. In addition, the growing need for non-residential enterprises such as malls, airports, industries, roadways, and office buildings is predicted to fuel global cement market growth.