Posted on 04 Jan 2019
Global Cement Market to Reach 6.4 Billion Tons by 2024
Cement refers to a fine mineral powder prepared by grinding calcined limestone and clay. This powder is then mixed with water and poured to set as a solid mass. Cement exhibits various cohesive & adhesive properties due to which it is extensively used as a bonding material all around the globe. It is available in different grades and currently represents one of the crucial raw materials in the construction industry.
A majority of the cement produced worldwide is consumed for domestic purpose while only 3% of the global production is exported to other countries. According to a new report by Expert Market Research, the global cement market reached a consumption value of 5.2 Billion Tons in 2018 and is further expected to reach nearly 6.4 Billion Tons by 2024.
The growth of the market can be accredited to a number of forces. Since the revival of the construction industry, a surge in the infrastructural activities has been witnessed, in both developed and developing countries. Owing to the rising populace coupled with increasing urbanisation rates in developing countries, there has been a huge demand for shelter and improved infrastructure. Moreover, easy availability of the raw materials used for producing cement along with its low-cost have also prompted a number of manufacturers to invest into the cement industry, thereby, stimulating the market growth.
Key findings from the report:
- Various types of cement available are Portland cement, Cement clinkers, White Portland cement, Aluminous cement and Hydraulic cement.
- The major end-uses of cement include residential, infrastructure and others. It is widely used in the construction of roads, bridges, pavements, concrete masonry units and large-scale infrastructural projects.
- Region-wise, China dominated the market with the majority of market share. This can be attributed to a significant increase in the number of business and residential installations in the country. China was followed by India.
- Being highly competitive in nature, the global cement market is surrounded by a number of small and big players. Some of these include CNBM, Lafarage Holcim, Anhui Conch Cement, Jidong Development, Heidelberg Cement, Shansui (Sunnsy), Cemex, China Resources, Taiwan Cement and Aditya Birla Group.
- In order to attain higher profitability, these players are targeting developing regions by expanding their production and geographical reach.
Click here for the summary of report: https://www.expertmarketresearch.com/reports/cement-market
Expert Market Research has analysed the global cement market according to type, end-use, major regions and top players:
Market breakup by Type
- Portland Cement
- Cement Clinkers
- White Portland Cement
- Aluminous Cement
- Hydraulic Cement
Market breakup by End-use
- Residential
- Infrastructure
- Others
Market breakup by Region
- China
- India
- Others
Top players
- CNBM
- Lafarage Holcim
- Anhui Conch Cement
- Jidong Development
- Heidelberg Cement
- Shansui (Sunnsy)
- Cemex
- China Resources
- Taiwan Cement
- Aditya Birla Group
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