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Base Year
Historical Year
Forecast Year
The Asia Pacific cement market reached around 2.97 billion tons in 2023. The market is projected to grow at a CAGR of 3.2% between 2024 and 2032 to reach nearly 3.94 billion tons by 2032.
Asia-Pacific Cement Market Report Summary | Description | Value |
Base Year | Billion Tons | 2023 |
Historical Period | Billion Tons | 2018-2023 |
Forecast Period | Billion Tons | 2024-2032 |
Market Size 2023 | Billion Tons | 2.97 |
Market Size 2032 | Billion Tons | 3.94 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 3.2% |
CAGR 2024-2032 - Market by Country | India | 3.8% |
CAGR 2024-2032 - Market by Country | China | 2.6% |
CAGR 2024-2032 - Market by Type | Blended | 3.7% |
CAGR 2024-2032 - Market by End Use | Infrastructural | 3.5% |
2023 Market Share by Country | Australia | 5.9% |
The South Korean cement industry aims to achieve a reduction of 53% in GHG emissions by 2050 by bolstering its investments in alternative fuels and relying on clean energy. It currently relies on industrial byproducts and recycled consumer goods’ plastic to generate its output. Increasing geopolitical tensions prompted the domestic industry to boost cement production by 35.7% in Q2 2022 to reach around 3.77 million tons. The government is expected to reserve 380,000 tons for the domestic market amidst increasing demand from the construction sector. The import of bituminous coal from Australia has jumped from 25% to 46% during the Russia-Ukraine conflict and is expected to remain a major source of fuel for cement manufacturing in the coming years.
94% of the world’s concrete is produced in the Global South, which includes countries such as India, Pakistan, and Indonesia. By 2030, the world must build nearly 600 million housing units (primarily in Southeast Asia and Africa) to meet the UN Sustainable Development Goals. However, cement production accounts for nearly 20% of the Global South’s GHG emissions. This is expected to increase the demand for LC3 cement, which can facilitate the construction of 40 million houses annually by minimising carbon emissions to 43 kg per 100 kg of cement.
Asia Pacific Cement Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by End Use
Market Breakup by Country
CAGR 2024-2032 - Market by | Country |
India | 3.8% |
China | 2.6% |
Japan | XX% |
ASEAN | XX% |
Australia | XX% |
Others | XX% |
Based on country, the market is segmented into China, Japan, India, ASEAN, and Australia, among others. Australia is projected to dominate the market, representing 5.9% of the overall market share. Over the forecast period of 2024-2032, India is expected to grow at a CAGR of 3.8% due to the increasing government expenditure on infrastructure development activities.
Increasing infrastructure development and construction activities in India is expected to make it an attractive destination for manufacturing cement. PM Awas Yojana is expected to play a critical role in the development of affordable housing for lower-middle-class people, thereby driving the market expansion.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
The market reached nearly 2.97 billion tons in 2023.
The market is projected to grow at a CAGR of 3.2% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around 3.94 billion tons in 2032.
The different types of cement in the market include Portland and blended, among others.
The different end uses of cement include residential, commercial/institutional/industrial, and infrastructural.
The different countries covered in the market report are China, Japan, India, ASEAN, and Australia, among others.
The key market players are Anhui Conch Cement Ord Shs A, Holcim Ltd., China National Building Material Group Corporation, UltraTech Cement Ltd., TCC GROUP HOLDINGS, ACC Limited, Shree Cement Ltd., SCG Group, PT Indocement Tunggal Prakarsa Tbk., and Ambuja Cements Ltd., among others.
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