Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Global Cement Market: Analysis By Production, By Consumption, Type (Blended, Portland and Others), By Application (Non Residential and Residential), By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cement market was valued at US$328.73 billion in 2021, and is expected to be worth US$443.06 billion in 2027. Cement is a substance which binds together other materials by a combination of chemical processes collectively known as setting. Cement is a dry powder and should not be confused with concretes or mortars, but it is an important constituent of both of these materials, in which it acts as the 'glue' that gives strength to structures.
Mortar is a mixture of cement and sand whereas concrete also includes rough aggregates. Because it is a major component of both of these building materials, cement is an extremely important construction material.
The global cement production in 2021 was recorded at 4.37 billion ton whereas the consumption was 4.27 billion ton. Cement is used in the production of the many structures that make up the modern world including buildings, bridges, harbors, runways and roads. It is also used for facades and other decorative features on buildings. The constant demand for all of these structures, increasingly from the developing world, means that cement is the second most consumed commodity in the world after water. The global cement market is determined to grow at a CAGR of 5.10% over the forecasted period of 2022-2027.
Market Segmentation Analysis:
- By Type: The report identifies three segments on the basis of type: Blended, Portland and Ohers. The blended segment held the largest market share (more than 55%) in 2021 due to features such as reduced water demand, improved workability and pump ability, and reduced crack formation due to thermal stress. The blended segment consists of base portland in which other materials, such as limestone, slag, and pozzolana, are added to obtain the different blends. The demand for blended types from industries like mining, building construction, and road construction is expected to increase, which would boost the market for the blended segment in coming years.
- By Application: The report identifies two segments on the basis of application: Non Residential and Residential. The non-residential segment is expected to be the most dominant segment throughout the forecast period. This market segment uses the cement products for tasks like building stadiums, commercial complexes, industrial buildings, roads, dams, and transportation hubs. The demand for the product has increased as a result of growing urbanisation and infrastructure development. Additionally, the market is anticipated to grow due to the high demand for hospitals and schools.
- By Region: In the report, the global cement market by production is divided into four regions: Asia Pacific, Europe, The US, and ROW. Asia Pacific accounted for the maximum share of more than 70% of the global production in 2021. Four of the top ten cement producers in the world are from Asia: China, Vietnam, India, and Indonesia. In contrast to China, where most of the locally produced cement is consumed, Vietnam exports a large portion of its cement, with the construction industry receiving the majority of the supply.
Key Players
- UltraTech Cement Ltd.
- China National Building Material Company
- Cemex SAB de CV
- HeidelbergCement AG
- Anhui Conch Cement Co Ltd
- Holcim Ltd.
- China Resources Cement Holdings Limited
- Taiwan Cement Corporation
- China Shanshui Cement Group
- Huaxin Cement Co., Ltd.
- Votorantim Cementos
- Tangshan Jidong Cement Co.,Ltd.
Market Dynamics
Growth Drivers
- Surging Demand from Construction Activities
- Increasing Adoption of Green Cement
- Rapid Urbanization
- Rising Disposable Incomes
- Utilization of Circulating Resources
Challenges
- Rising Government Regulations on Carbon Emissions from Manufacturing Plants
- Depleting Fossil Fuel Reserves
- Higher Power Consumption
Market Trends
- Growing Civil Engineering Sector
- Technological Advancements in the Production Process
- Surging Infrastructure Projects in Developing Regions
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of Covid-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/dt3q7b
