Cement Industry is Anticipated to Grow USD 592.38 billion by 2032, exhibiting a CAGR of 4.3%

The global cement industry size was valued at USD 405.99 billion in 2023 and is projected to grow from USD 423.24 billion in 2024 to USD 592.38 billion by 2032, exhibiting a CAGR of 4.3% during the forecast period. With increasing rate of construction of residential buildings due to the growth in the population, the demand for cement has witnessed a rise. Green cement has led to the construction of sustainable buildings which is posing as an opportunity for Industry growth. Fortune Business Insights shares this information in its report titled “Cement Industry Size Report, 2024-2032.”

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Cement Industry Segmentation

Various Benefits to Drive Industry Growth for Blended Segment

On the basis of type, the Industry is segmented into portland, blended, and others. Owing to its various features such as reduced water demand, improved workability & pump ability, and reduced crack formation due to thermal stress, the blended segment held the largest share of the segment in 2022.

Non-Residential Segment Is Set to Lead Due to Increasing Construction Activities of Non-Residential Spaces

Based on application, the Industry is segmented into residential and non-residential. With variegated uses of the product in non-residential construction activities of roads, dams, commercial complexes, industrial buildings, stadiums, and transportation hubs. The non-residential segment is expected to lead the Industry during the forecast period.

Geographically, the Industry is studied across North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.

Cement Industry Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the Industry. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the Industry. Additionally, it examines the regional developments and the strategies undertaken by the Industry’s key players.

List of Key Players Profiled in the Cement Industry Report

• CEMEX S.A.B. de C.V. (Mexico)
• HeidelbergCement (Germany)
• InterCement Participações S.A. (Brazil)
• Holcim Ltd. (Switzerland)
• CRH plc (Ireland)
• The Siam Cement Group (Thailand)
• Titan Cement Company S.A. (Greece)
• UltraTech Cement Limited (India)
• Votorantim Cimentos (Brazil)
• Buzzi Unicem S.p.A. (Italy)
• Mitsubishi Material Corporation (U.S.)
• Argos USA LLC (U.S.)
• China National Building Material Co., Ltd. (China)
• Taiheiyo Cement Corporation (Japan)
• Drake Cement LLC (U.S.)

Drivers and Restraints

Rise In The Number of Construction Activities To Drive Industry Trajectory

Rising construction activities is anticipated to drive global cement Industry growth. With account to rise in the population, there has been an increase in the demand for residential and non-residential spaces. Rising rate of urbanization and government initiatives to support the construction & infrastructural activities in developing economies is supporting the demand for the product.

However, raw materials used such as limestone, chalk, shells, shale, clay, and silica sand are set to hinder the Industry development. Various environmental regulations imposed over production also restrains the Industry growth as well.

Regional Cement Industry Insights

With Increasing Demand for the Product, Asia Pacific is Expected to Lead the Industry Share

Asia Pacific is projected to lead global cement Industry share due to increasing demand for the product from Southeast Asia, China, and India. The Industry was valued at USD 273.22 billion in 2022. China is one of the major countries of the region as it is the leading producer and consumer of the product globally.

The growth in of the Industry in the North American region is increasing due to demand for public infrastructure.

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Competitive Landscape

Industry Players to Gain Competitive Edge by Increasing Their Presence

Key industry players of the global cement Industry have been diversifying their presence globally. Producers of North America and Europe have been aiming to increase their presence in countries of Asia Pacific region. Key players in the Industry have developed strong regional presence, distribution channels, and product offerings.

Key Cement Industry Development

• May 2023: Heidelberg Materials has invested USD 600 million to build the second-largest cement plant in Mitchell, Indiana in order to reduce CO2 emissions and energy consumption significantly.

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