The global cement market reached a value of US$ 344.5 Billion in 2021 and expects to reach US$ 488.4 Billion by 2027, with a CAGR of 6.1% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, July 26, 2022 /EINPresswire.com/ — Market Overview:
The latest report by IMARC Group, titled “Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global cement market price forecast. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global cement market reached a value of US$ 344.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 488.4 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027. Cement is a powdery substance that works as a binding agent and has properties that help hold or join other materials. It is usually used in fine powders of inorganic materials, and the fundamental constituents are chalks, shells, calcium silicate, and limestone, amongst others. It can be classified into two groups, namely natural cement, and Portland cement. Natural cement is brown in color and sets very quickly when mixed with water. On the other hand, Portland cement is manufactured from chalk and clay, which hardens under water and resembles Portland stone in color when hard.
Cement is an essential constituent across various industry vertices like the paints and coatings sector, alongside the building and construction units. However, due to the adverse situation of the pandemic, the lockdown was imposed, and the work had to stop midway for a considerable period. Owing to this, the demand for cement declined drastically. Also, the governments across various countries were imposing many restrictions on the functioning segments like production and manufacturing, which led to a decline in revenue for the cement market and increased the inability to meet the overall demand.
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Global Cement Market Trends:
The global market is majorly driven by the growing demand for public infrastructure and non-residential buildings. In line with this, the rising demand from the expanding construction sector is positively influencing the market. Furthermore, the increasing adoption of green cement to construct eco-friendly and sustainable buildings is creating a positive outlook for the market. Apart from this, the growing requirement for constructing institutional structures for the education and healthcare sectors is accelerating the demand for cement. Moreover, rapid urbanization is leading to the steady growth of cities, which, in turn, is estimated to contribute to the market growth. Besides this, the rising construction of rail networks across significant cities and intra-regional rail links is likely to supplement the product demand. Additionally, rapid industrialization and the increasing population are creating numerous growth opportunities for key market players.
By IMARC group the report has also analysed the competitive landscape of the market with some of the top cement manufacturing companies being
• CNBM International Corporation
• Anhui Conch Cement Co., Ltd.
• Jidong Development Group Co., Ltd.
• LafargeHolcim Ltd
• HeidelbergCement AG
Key Market Segmentation:
Breakup by Type:
Breakup by End Use:
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Explore Full Report with TOC & List of Figures: https://bit.ly/3uje4aW
TOC for the Report:
• Scope and Methodology
• Executive Summary
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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