Cement Market

Cement Market

Cement Market Forecasts to 2028 - Global Analysis By Type (Blended, Portland, Sulfate Resisting Cement, Blast Furnace Slag Cement, High Alumina Cement, Grey Cement, White Cement, Hydraulic Cement, Rapid Hardening Cement and Other Types), By Raw Material (Limestone, Bauxite, Gypsum, Clay, Silica, Shells, Shale and Other Raw Materials), By Method, By Application, By End User and By Geography

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4.5 (76 reviews)
Published: 2023 ID: SMRC22734

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $353.0 BN

Projected Year Value (2028)

US $560.1 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Middle East & Africa

According to Stratistics MRC, the Global Cement Market is accounted for $353.0 billion in 2022 and is expected to reach $560.1 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Buildings are constructed with cement, a grinded mineral powder that is grey in colour. Cement serves as a binder material. It is created by grinding a mixture of marl, clay, and limestone, which is then combined with water to form a dense mass. It is widely utilised for the mass building of homes, civil works, and industrial estates and has outstanding durability and strength. The demand for residential construction has grown along with the population. As a result, cement demand has increased all over the world. Consumption of goods has been made possible by the rising demand for public infrastructure and non-residential structures, such as hospitals and healthcare facilities.

According to Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT), the number of new housing starts increased for the first time in 3 years in 2021. The number of new housing starts in 2021 was 865,909 units, an increase of 6.6% from 2020. Custom home starts increased to 281,279 units by 6.9% year on year in 2021, while, rental housing increased for the first time in five years to 337,752 units by 9.2% compared to 2020.

Market Dynamics:


Growing use of green cement to increase potential growth

Growth in the cement industry will be boosted by the increasing use of green cement in the construction of sustainable and eco-friendly structures. The production process can be modified to significantly reduce emissions as part of an effort to minimize the threat that emissions pose. This product is produced using a low-pollution unit operation technique that is carbon-negative in manufacture. It is a sustainable solution that, by lowering production-related carbon emissions, addresses essential ecological concerns.


Government regulation of industrial plant carbon emissions constrains growth

Limestone, chalk, shells, shale, clay, and silica sand are used as primary ingredients in the production. The environment and human health are both negatively impacted by its manufacture in a variety of hazardous ways. Particles of dust can irritate the nose and throat while also making breathing difficult. In addition, there is significant pollution generated during the production of this product. With annual emissions of more than 500 kilotons of nitrogen oxide, sulphur dioxide, and carbon monoxide, the cement sector is ranked third among industrial polluters by the United States Environmental Protection Agency. However, governments enforce a variety of environmental rules over the cement manufacturing process as a result of these concerns.


Increasing necessity from construction activities

Due to the growing need for residential spaces like apartments and private bungalows, the population rise will have a significant impact on the market's expansion. The market size is also anticipated to increase because of the increasing need for amenities in residential spaces. Moreover, the market is anticipated to rise as a result of the increased demand for non-residential structures such as malls, airports, industries, highways, and office buildings. However, global product consumption will also rise as a result of the growing demand for precast products such as blocks, panels, roof tiles, and others.


Low technology investment

The exclusion of technology and automation makes the issue in the cement manufacturing sector severe. India has a surplus of labour, and many people agree that employing workers is a better investment than investing in cutting-edge automation technology, which may be able to eliminate 50% of physical labour and human participation. The logistics sector in India receives much less investment than those in other countries for this single reason. Lack of access to creative and cutting-edge resources that deal with data science, operational automation, and technical trackability is a major problem for cement manufacturers.

Covid-19 Impact:

The COVID-19 pandemic had a detrimental effect on the cement market in 2020, which led to decreased demand in the construction sector and the closure of several manufacturing facilities. Government regulation that impedes the mobility of both people and goods has negatively impacted the market as the COVID-19 pandemic spreads. The epidemic had a significant impact on numerous nations' production and activities. For instance, according to the Chinese Ministry of Industry and Information Technology, China produced 769 million tonnes of cement from January to May 2020, a decrease of 8.2% from the same period in 2019.

The blended segment is expected to be the largest during the forecast period

Because of its characteristics, including decreased water demand, enhanced workability and pumpability, and less crack development due to thermal stress, the blended segment holds the largest share of the market during the projection period. In order to create the various blends, additional ingredients, including pozzolana, slag, and limestone, are added to the base portland in the blended portion. Additionally, the demand for mixed kinds from industries like mining, building construction, and road construction is predicted to increase, which would boost market revenue globally.

The non residential segment is expected to have the highest CAGR during the forecast period

As the product is used for projects like the construction of highways, dams, commercial complexes, industrial buildings, stadiums, and transit hubs, the non-residential segment is anticipated to have the highest CAGR over the projected period. Moreover, the demand for the product has increased as a result of growing urbanisation and infrastructure development. Besides that, the market is anticipated to rise due to the growing need for hospitals and schools.

Region with largest share:

As the cement industry has experienced substantial growth in the Asia-Pacific region, with nations like China and India accounting for a substantial portion of consumption, the region has dominated the largest share over the projection period. One of the biggest construction industries in the world is found in China. Furthermore, residential construction in the nation will likely be fueled by the rising housing demand, in both the public and private sectors. In order to maintain economic growth, China's central government has actively promoted fiscal stimulus in the form of infrastructure investments in recent years.

Region with highest CAGR:

Over the forecast period, the Middle East and Africa are anticipated to experience the highest growth, as this growth is attributed to the product's rising demand as a result of the region's expanding infrastructure-related activity. Another aspect influencing the Middle East and Africa market is its application in mining and oil exploration activities. Moreover, massive investments in the infrastructure sectors of numerous countries in the region are the major influencers of the expansion of the construction sector in MEA. However, the expansion of the regional market is projected to be aided by the increasing construction of rail networks connecting large cities and intra-regional train links.

Key players in the market

Some of the key players in Cement market include ACC Limited, Adani Group, Aditya Birla Management Corporation Pvt. Ltd, Ambuja Cements Ltd, Anhui Conch Cement Company Limited, Argos USA Corporation, Votorantim Cimentos, BBMG Corporation, Birla Cement, Buzzi Unicem S.p.A., Cement Corporation Of India Limited, Caterpillar Power Plants, CEMEX S.A.B. De C.V., China National Building Material Group Corporation, CNBM International Corporation, CRH plc, Dalmia Bharat Ltd, Drake Cement LLC, Grasim Industries Limited, HeidelbergCement, India Cements Ltd, InterCement, JK Lakshmi Cement Ltd, LafargeHolcim, Mitsubishi Cement Corporation, Wonderful Sky Financial Group Limited, Orient Cement Ltd, Parasakti Cement Industries Limited, Raymond Cement Industries, Shree Cement, Taiheiyo Cement Corporation, Tangshan Jidong Cement Co.,Ltd, The Ramco Cements Limited, The Siam Cement Group, and Titan Cement Company S.A.

Key Developments:

In June 2022, Ultratech Cement Ltd announced that the company’s board has approved an investment of INR 12,886 crore to add 22.6 million tons per annum cement capacity in total production by 2025.

In May 2022, Holcim signed an agreement for the Adani Group to acquire its business in India for cash of CHF 6.6 billion. The acquisition will consist of Holcim’s 63.11% stake in Ambuja Cement and its 4.48% direct stake in ACC.

In June 2021, Heidelberg Cement announced plans to turn its Sweedish factory at Slite into the world’s first CO2-neutral cement plant by 2030. The plan would cost at least EUR 100 million and would be able to capture 1.8 million tons of CO2 every year.

In December 2020, UltraTech Cement Ltd., a subsidiary of the Aditya Birla Group, invested around USD 722 million to expand its capacity to 12.8 million tonnes per annum through a combination of brownfield and greenfield expansion. This expansion includes a 6.7 mtpa capacity expansion in Uttar Pradesh, Odisha, Bihar, West Bengal, and a cement plant in Pali, Rajasthan.

In November 2020, HeidelbergCement invested around USD 485 million to modernize and reorganize its several cement plants in France. This investment program is intended to optimize the effectiveness, structures, and processes of the company’s operations in France.

Types Covered:
• Blended
• Portland
• Sulfate Resisting Cement
• Blast Furnace Slag Cement
• High Alumina Cement
• Grey Cement
• White Cement
• Hydraulic Cement
• Rapid Hardening Cement
• Other Types

Raw Materials Covered:
• Limestone
• Bauxite
• Gypsum
• Clay
• Silica
• Shells
• Shale
• Other Raw Materials

Methods Covered:
• Dry
• Wet

Applications Covered:
• Non Residential
• Residential

End Users Covered:
• Commercial
• Infrastructure
• Construction

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Cement Market, By Type
5.1 Introduction
5.2 Blended
5.3 Portland
5.3.1 Moderate Sulfate Resistance
5.3.2 General Purpose
5.3.3 High Early Strength
5.3.4 Low Heat Of Hydration
5.3.5 High Sulfate-Resistance
5.3.6 Ordinary Portland Cement (OPC)
5.3.7 Portland Pozzolana Cement (PPC)
5.3.8 Portland Limestone Cement (PLC)
5.3.9 Portland Slag Cement (PSC)
5.3.10 Low Heat Portland Cement
5.4 Sulfate Resisting Cement
5.5 Blast Furnace Slag Cement
5.6 High Alumina Cement
5.7 Grey Cement
5.8 White Cement
5.9 Hydraulic Cement
5.10 Rapid Hardening Cement
5.11 Other Types

6 Global Cement Market, By Raw Material
6.1 Introduction
6.2 Limestone
6.3 Bauxite
6.4 Gypsum
6.5 Clay
6.6 Silica
6.7 Shells
6.8 Shale
6.9 Other Raw Materials

7 Global Cement Market, By Method
7.1 Introduction
7.2 Dry
7.3 Wet

8 Global Cement Market, By Application
8.1 Introduction
8.2 Non Residential
8.3 Residential

9 Global Cement Market, By End User
9.1 Introduction
9.2 Commercial
9.3 Infrastructure
9.4 Construction

10 Global Cement Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 ACC Limited
12.2 Adani Group
12.3 Aditya Birla Management Corporation Pvt. Ltd
12.4 Ambuja Cements Ltd
12.5 Anhui Conch Cement Company Limited
12.6 Argos USA Corporation
12.7 Votorantim Cimentos
12.8 BBMG Corporation
12.9 Birla Cement
12.10 Buzzi Unicem S.p.A.
12.11 Cement Corporation Of India Limited
12.12 Caterpillar Power Plants
12.13 CEMEX S.A.B. De C.V.
12.14 China National Building Material Group Corporation
12.15 CNBM International Corporation
12.16 CRH plc
12.17 Dalmia Bharat Ltd
12.18 Drake Cement LLC
12.19 Grasim Industries Limited
12.20 HeidelbergCement
12.21 India Cements Ltd
12.22 InterCement
12.23 JK Lakshmi Cement Ltd
12.24 LafargeHolcim
12.25 Mitsubishi Cement Corporation
12.26 Wonderful Sky Financial Group Limited
12.27 Orient Cement Ltd
12.28 Parasakti Cement Industries Limited
12.29 Raymond Cement Industries
12.30 Shree Cement
12.31 Taiheiyo Cement Corporation
12.32 Tangshan Jidong Cement Co.,Ltd
12.33 The Ramco Cements Limited
12.34 The Siam Cement Group
12.35 Titan Cement Company S.A.

List of Tables
1 Global Cement Market Outlook, By Region (2020-2028) ($MN)
2 Global Cement Market Outlook, By Type (2020-2028) ($MN)
3 Global Cement Market Outlook, By Blended (2020-2028) ($MN)
4 Global Cement Market Outlook, By Portland (2020-2028) ($MN)
5 Global Cement Market Outlook, By Moderate Sulfate Resistance (2020-2028) ($MN)
6 Global Cement Market Outlook, By General Purpose (2020-2028) ($MN)
7 Global Cement Market Outlook, By High Early Strength (2020-2028) ($MN)
8 Global Cement Market Outlook, By Low Heat Of Hydration (2020-2028) ($MN)
9 Global Cement Market Outlook, By High Sulfate-Resistance (2020-2028) ($MN)
10 Global Cement Market Outlook, By Ordinary Portland Cement (OPC) (2020-2028) ($MN)
11 Global Cement Market Outlook, By Portland Pozzolana Cement (PPC) (2020-2028) ($MN)
12 Global Cement Market Outlook, By Portland Limestone Cement (PLC) (2020-2028) ($MN)
13 Global Cement Market Outlook, By Portland Slag Cement (PSC) (2020-2028) ($MN)
14 Global Cement Market Outlook, By Low Heat Portland Cement (2020-2028) ($MN)
15 Global Cement Market Outlook, By Sulfate Resisting Cement (2020-2028) ($MN)
16 Global Cement Market Outlook, By Blast Furnace Slag Cement (2020-2028) ($MN)
17 Global Cement Market Outlook, By High Alumina Cement (2020-2028) ($MN)
18 Global Cement Market Outlook, By Grey Cement (2020-2028) ($MN)
19 Global Cement Market Outlook, By White Cement (2020-2028) ($MN)
20 Global Cement Market Outlook, By Hydraulic Cement (2020-2028) ($MN)
21 Global Cement Market Outlook, By Rapid Hardening Cement (2020-2028) ($MN)
22 Global Cement Market Outlook, By Other Types (2020-2028) ($MN)
23 Global Cement Market Outlook, By Raw Material (2020-2028) ($MN)
24 Global Cement Market Outlook, By Limestone (2020-2028) ($MN)
25 Global Cement Market Outlook, By Bauxite (2020-2028) ($MN)
26 Global Cement Market Outlook, By Gypsum (2020-2028) ($MN)
27 Global Cement Market Outlook, By Clay (2020-2028) ($MN)
28 Global Cement Market Outlook, By Silica (2020-2028) ($MN)
29 Global Cement Market Outlook, By Shells (2020-2028) ($MN)
30 Global Cement Market Outlook, By Shale (2020-2028) ($MN)
31 Global Cement Market Outlook, By Other Raw Materials (2020-2028) ($MN)
32 Global Cement Market Outlook, By Method (2020-2028) ($MN)
33 Global Cement Market Outlook, By Dry (2020-2028) ($MN)
34 Global Cement Market Outlook, By Wet (2020-2028) ($MN)
35 Global Cement Market Outlook, By Application (2020-2028) ($MN)
36 Global Cement Market Outlook, By Non Residential (2020-2028) ($MN)
37 Global Cement Market Outlook, By Residential (2020-2028) ($MN)
38 Global Cement Market Outlook, By End User (2020-2028) ($MN)
39 Global Cement Market Outlook, By Commercial (2020-2028) ($MN)
40 Global Cement Market Outlook, By Infrastructure (2020-2028) ($MN)
41 Global Cement Market Outlook, By Construction (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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