Global cement market was valued at USD 323.24 Billion in 2021, and it is expected to reach a value of USD 459.06 Billion by 2028, at a CAGR of 5.1% over the forecast period (2022-2028).
Westford, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) — As the world becomes increasingly urbanized and more buildings are constructed, there is an increasing demand for cement. SkyQuest’s latest analysis of global cement market estimates that the industry will grow at a CAGR of 5.1% until 2028, reaching $459 billion in value. This growth is driven by both increased demand from developed economies and increased investments in infrastructure throughout Asia and other developing regions.
In 2021, 4.4 billion tons of cement was produced across the globe. In terms of market share, China and India are expected to account for half of global cement market value by 2028. In 2021, the country contributed around 2.5 billion tons of cement to the global market thanks to its rapid economic development, which, in turn, has led to an increase in construction activity. In contrast, the United States is expected to experience relatively slower growth, as its aging infrastructure will require more maintenance over the coming years.
One of the key trends that we expect to impact the global cement market is rising emissions concerns. In 2021, cement industry contributed direct cement CO2 emission of around 1.5%. As more countries adopt measures to reduce carbon emissions, such as mandating lower greenhouse gas emissions from building materials, demand for concrete-based products will increase.
SkyQuest has released a report outlining its analysis of these issues, as well as its recommendations for how to address them. The report recommends measures like improving efficiency in cement manufacturing through innovation and changing product mix; promoting renewable energy sources; moving towards more curing concrete; and encouraging better procurement practices.
Overall, our analysis paints an optimistic picture of the global cement market – but it also points to some key areas that need attention if global development goals are to be met.
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High Strength and Durability Makes the Blended Cement Most Heavily Consumed in Global Cement Market
Blended cement is a type of cement that contains both Portland cement and slag. The main factors driving demand for blended cement in the global cement market is its higher strength and durability than either Portland or slag-only cements. In addition, blended cements are better suited for use in areas with high humidity, since they have a greater ability to retain water. There are a number of factors contributing to the high demand for blended cements. First, the combination of Portland and slag materials results in a stronger product that can address a wider range of needs. Second, the increased popularity of rainwater harvesting and drought-resistant landscaping has led to an increased need for durable building materials that can stand up to prolonged exposure to weather conditions. Finally, modern construction methods often involve the use of heavier gauge steel which requires a more durable concrete foundation.
Blended cements are becoming increasingly popular in global cement market due to their many benefits. They offer increased strength and durability, making them ideal for applications where other types of cements would not be suitable. Additionally, blended cements are better suited for humid environments, which makes them an attractive option for construction projects in areas with high humidity levels.
Not only is there high demand for blended cements, but the technology behind producing them is also advancing at a rapid pace. Today’s blenders use advanced industrial blending machines that can achieve very accurate results while still meeting consumer requirements for strength and flexibility. This means that consumers can expect even better performance out of their blends in the future!
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Top Trends in Global Cement Market
In the past decade, the cement industry has seen a shift from traditional building materials to innovations in sustainable and energy-efficient materials. Here are five top trends in the cement industry:
1. Microcement development: In recent years, microcement technology has seen vast outpacing of development. This is due to its environmental friendliness, high strength-to-weight ratio, and low cost. With growing awareness of climate change and the need for sustainable construction, microcement finds widespread application in green infrastructure such as rain gardens, biogas digesters, and green roofs.
2. Cement composites: Although cement composites have been used for many years now, there is significant potential for their use in future construction regimes across global cement market. Their advantages include lighter weight architecture with improved stiffness and durability. They can also reduce airborne dust levels and be environmentally friendly since they produce no Polluting Gases (PG).
3. Recycled content: Advances in recycling technology means that more recycled content is finding its way into concrete products. This significantly reduces greenhouse gas emissions while also reducing waste disposal costs. In fact, some estimates indicate that recycled content could account for up to sixty percent of global concrete production by 2025.
4. Green construction materials: This is due to concerns over climate change and the public’s growing awareness of environmental issues in the global cement market. Green construction materials can help reduce environmental damage and save energy resources. In addition, sustainable cements are becoming increasingly popular as a way to reduce carbon emissions.
5. Innovations in manufacturing technology are causing changes in the ways cements are manufactured. Improvements in production processes make it possible to produce more durable cements with reduced environmental impact. As a result, more companies are producing eco-friendly cements that meet rigorous safety and performance standards.
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Prestressed Concrete to Offer Lucrative Growth Opportunity for Cement Market
Prestressed concrete is a relatively new construction product that has the potential to offer lucrative growth opportunity for the cement industry. Prestressed concrete is a type of building material that employs tension and compression in order to achieve improved durability and strength.
The potential market for prestressed concrete in the global cement market is vast, as the material can be used in a wide variety of applications including bridges, buildings, roads, and dams. The benefits of using prestressed concrete include improvement in both structural integrity and performance. In addition, prestressed concrete has the potential to reduce construction costs compared to traditional construction methods.
The market for prestressed concrete is expected to grow significantly over the next several years. This growth is likely to be fueled by a variety of factors including an increased demand for durable infrastructure, increasing global B2B spending, and innovation in construction materials technology.
Top Players in Global Cement Market
- Titan Cement Company S.A. (Greece)
- Aditya Birla Ultratech (India)
- Votorantim Cimentos (Brazil)
- Buzzi Unicem S.p.A. (Italy)
- InterCement (Brazil)
- LafargeHolcim (Switzerland)
- CRH plc (Ireland)
- The Siam Cement Group (Thailand)
- Mitsubishi Cement Corporation (U.S.)
- Argos USA Corporation (U.S.)
- CNBM International Corporation (China)
- Taiheiyo Cement Corporation (Japan)
- Drake Cement LLC (U.S.)
- CEMEX (Mexico)
- HeidelbergCement (Germany)
Related Reports in SkyQuest’s Library:
Global Construction Chemicals Market
Global Silica Flour Market
Global Ready-Mix Concrete Market
Global Gypsum Board Market
Global Fly Ash Market
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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