According to the latest report by IMARC Group titled, “ Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a volume of 5 Billion Tons in 2018. Looking forward, the market is expected to reach a volume of 5 Billion Tons by 2024, exhibiting a CAGR of around 3.5% during 2019-2024.
Cement is an inorganic binding material that is widely used in the building and construction industry. Concrete and mortar are the most common products that use cement as the key ingredient. Over the past few years, the construction industry has been witnessing significant growth. This has resulted in the increasing investments in a range of commercial and residential projects, which is expected to escalate the demand for cement in the coming years. Moreover, the rising number of nuclear families, leading to an increase in the number of residential construction projects, has augmented the growth of the cement industry. In addition to this, the government initiatives for the development of metro projects and the enhancement of the existing infrastructure facility are expected to propel the demand of cement further, thereby leading to the positive growth of the market. Some of the other growth-inducing factors include technological developments, rapid urbanization and increasing disposable incomes.
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Market Key Segmentation:
Breakup by Type:
• Blended
• Portland
• Others
Breakup by End-Use:
• Residential
• Infrastructure
• Commercial
Breakup by Region:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Competitive Landscape:
The report has also examined the competitive landscape of global cement market. Some of the major players in the market are CNBM, Anhui Conch, Jidong Development, Lafarge Holcim, Heidelberg Cement, etc
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players