Top 10 Companies in the Global Cement Market

Holcim Limited, China National Building Material Group Co., Ltd., Ultratech Cement Limited, Grasim Industries Limited, HeidelbergCement AG, The Siam Cement Group, Shree Cement Limited, CRH plc, CEMEX S.A.B. de C.V., Adani Group, Buzzi Unicem SpA, and Titan Cement International SA, among others, are the major players in the global cement market. 

The global cement market reached a value of about USD 383.02 billion in 2023. The market is projected to grow at a CAGR of 5.4% in the forecast period of 2024-2032 to reach around USD 614.88 by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rapid expansion of industrial, institutional, and commercial sectors across the emerging economies.

Cement stands as a fundamental component in construction, pivotal in shaping residential, commercial, and industrial edifices. Widely embraced across diverse projects, it fortifies structures, enhancing productivity across various sectors. Crafted through a meticulous process involving limestone, clay, and other elements, cement emerges as a versatile material, renowned for its binding prowess. With a composition primarily comprising calcium silicates and aluminates, it offers exceptional compressive strength, ideal for load-bearing structures like foundations and walls. Its versatility extends to various types Portland, blended, and speciality each tailored for specific construction needs.

Within the healthcare domain, cement finds itself increasingly integral in enhancing the standards of hospitals and ambulatory surgical centres. This surge in demand is attributed to its pivotal role in radiation control within critical areas such as cyclotron and patient diagnostic and treatment zones, thereby propelling cement market share. Moreover, the rising need for concrete to bolster wall thickness, ensuring heightened patient privacy, continues to influence the projected demand for cement.

Governments across the globe acknowledge the pivotal role of infrastructure development in fostering economic prosperity and societal welfare. With significant budget allocations, they prioritise the enhancement of transportation networks, encompassing roads, highways, railways, and airports. Such ambitious endeavours demand extensive quantities of cement to ensure the creation of robust and dependable infrastructure, aiding the cement market growth.

In May 2023, Cemex executed its European expansion strategy by acquiring a mortar plant near Madrid, Spain, aimed at bolstering its Urbanisation Solutions portfolio. Equipped with cutting-edge technology, the plant produced both traditional and speciality mortars with heightened sustainability features. Leveraging the nearby Castillejo cement plant for lower-carbon Vertua cement, it significantly reduced Scope 3 emissions from product transportation. Positioned just 35 kilometres from Madrid, the plant integrated seamlessly into Cemex's operations and aimed to achieve a production capacity of 100,000 metric tons.

Top 10 Cement Companies in the World:

Holcim Limited

Holcim Limited, a global leader in innovative and sustainable construction solutions, employs 60,000 individuals globally. With a commitment to advancing progress for both people and the planet, Holcim spearheads the transition to sustainable building practices. Their focus centred on creating circular cities integrating nature, sustainable buildings, smart infrastructure, and recycling. Sustainability remains the cornerstone of their operations, driving a rigorous, science-based approach. Through two decades of initiatives like the Holcim Foundation for Sustainable Construction, they catalysed systemic change by sharing ideas and solutions, pushing the industry's boundaries.

China National Building Material Group Co., Ltd.

China National Building Materials Group Corporation (CNBM), headquartered in Beijing, China, emerged as a leading player in the construction materials industry. Established in 1984 as a State-owned Enterprise (SOE), it gained Central Enterprise status in 2003. CNBM's diversified portfolio included cement, iron ore, concrete, and glass fibre. With assets exceeding RMB 110 billion by 2009 and 100,000 employees, it integrated research, manufacturing, and logistics. CNBM operated under a parent-subsidiary management system, fostering innovation and market expansion through strategic business platforms.

UltraTech Cement Ltd.

UltraTech Cement Ltd., India's largest manufacturer of grey cement, Ready Mix Concrete (RMC), and white cement, also ranks among the top global cement producers. Renowned for 'strength', 'reliability', and 'innovation', UltraTech symbolises excellence in engineering, shaping India's architectural landscape. As the cement flagship of the Aditya Birla Group, UltraTech has a USD 7.9 billion building solutions empire, dominating the Indian market with its vast cement production capacity. Operating across India, UAE, Bahrain, and Sri Lanka, it stands as a powerhouse in the construction materials industry.

Grasim Industries Limited

Grasim Industries Limited, a cornerstone of the Aditya Birla Group, stands among India's premier publicly listed firms. With a storied history spanning 76 years since its 1947 inception as a textiles manufacturer, Grasim transitioned into a diversified powerhouse across multiple sectors. Renowned globally for its production of Viscose, Diversified Chemicals, and Linen Yarn and Fabrics, it recently ventured into the paints business with 'Birla Opus'. Expanding its reach through subsidiaries like UltraTech Cement and Aditya Birla Capital, Grasim epitomises sustainable value creation for employees, shareholders, and society.

HeidelbergCement AG

At Heidelberg Cement, Germany, a legacy of 150 years saw a relentless pursuit of excellence. Brands like Mycem and Zuari epitomised the commitment to quality, innovation, and environmental standards. With over 51,000 employees across 3,000 sites in 50+ countries, Heidelberg stood as a global leader in building materials and solutions, boasting premier market positions in cement, aggregates, and ready-mixed concrete. A forefront advocate for environmental responsibility, the company spearheaded efforts towards carbon neutrality and circular economy practices, while championing digitalisation to empower customers.

The Siam Cement Group

The Siam Cement Group Public Company Limited (SCG; SET: SCC) emerged as Thailand and Southeast Asia's premier cement and building material firm, boasting a century-long legacy of corporate governance and sustainable practices. Positioned as a key player in the ASEAN region, SCG's adaptability and commitment to development garnered global acclaim, setting industry standards. Established in 1913 by royal decree, SCG flourished into three core businesses Cement-Building Materials, Chemicals, and Packaging contributing significantly to national infrastructure and economic progress.

Shree Cement Limited

Ranked among India's top 3 cement groups, the firm presents a cement production capacity of 57.4 MTPA (including overseas) and a Power Generation Capacity of 935.55 MW. Since the establishment in 1979, the company has championed sustainable, inclusive growth through relentless innovation and operational excellence. Recognised as one of India's fastest-growing and most sustainable companies, the company has partnered with esteemed organisations like the Centre for Nature and Climate, World Economic Forum. Notable achievements include acquisitions like Union Cement Company, Ras Al Khaimah, and accolades such as a 5-star rating for manufacturing excellence.

CRH plc

CRH, a global leader in building materials solutions, employs approximately 75,800 individuals across 3,160 operating sites in 29 countries. With a strong presence in North America and Europe, CRH plays a vital role in infrastructure projects, commercial buildings, and outdoor living solutions, promoting resilience and sustainability. Recognised for its environmental, social, and governance (ESG) performance, CRH is a Fortune 500 company listed on the NYSE and LSE, and featured in indices like the FTSE 100, EURO STOXX 50, and Dow Jones Sustainability Index (DJSI) Europe.

CEMEX S.A.B. de C.V.

Cemex, a global leader in building materials, pioneers innovative solutions for sustainable construction challenges. With a focus on stakeholder value, Cemex delivers top-notch products and services, exceeding customer expectations. Their commitment to sustainability and innovation permeates every aspect of operations, ensuring a positive impact on society and the environment. Through a vertically integrated approach, Cemex provided high-quality cement, ready-mix concrete, aggregates, and urbanisation solutions, contributing to a better future in every region they operate.

Adani Group

The Adani Group, a diversified conglomerate in India, boasted a portfolio of 10 publicly traded companies, excelling in transport logistics and energy utilities nationwide. Headquartered in Ahmedabad, Gujarat, it led in large-scale infrastructure development, adhering to global operational standards. Adani prioritises sustainable growth, evident in its focus on environmental conservation and community welfare. With an emphasis on ESG principles, Adani aimes to expand its footprint, aligning businesses with climate protection and fostering diversity and shared values through its CSR initiatives.