(MENAFN- Alliance News) Regardless of a companys size or income, the most recent research study offers an exhaustive analysis of the Cement market for 2023-2032. This survey study discusses the key market trends and the industrys outlook for the forecast years.?
Global Cement Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.
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Cement is a dry powder which acts a glue to give strength to the structure. The demand of cement relies on construction and building activities, and overall infrastructure development. Cement is the major ingredient for concrete and mortar which are widely used in the construction industry and hence, rise in construction or building activities will largely spur the cement market globally. It is one of the most abundantly produced materials due to its widespread usage in concreting, minimum cost and the geographic abundance of its main raw materials. It is composed of calcium silicates, calcium aluminates and calcium aluminoferrite minerals. The demand of cement is surging due to the growing requirement for the construction of institutional buildings for education and healthcare sectors which is anticipated to drive the market in the coming years. Moreover, supportive regulations and favorable government policies, such as Housing for All and smart cities, are expected to trigger the demand for cement in residential and commercial applications in developing and underdeveloped countries. The initiative such as the Cement Action Plan, a part of the World Business Council for Sustainable Development,s (WBCSD) Low Carbon Technology Partnerships is accelerating the deployment of low-carbon solutions in the cement industry. Furthermore, investment in R&D for regional expansions is the key strategy adopted by the key players to strengthen their position in the cement market as smaller companies are keen to collaborate with existence key players to strengthen their foothold in the global market.
Blended cement projected to be the most dominant product of Global cement Market
Blended products segment dominates the global cement market with the maximum market share of the total cement market and projected to lead the market over the forecast period 2018-2025. Owing to its benefit such as typically lower costs and better environmental profile than straight Portland cement. Cement firms have also started increasing the use of cementitious materials such as fly ash and blast furnace slag in their products, which reduces the level of carbon dioxide emissions from the production of Portland cement clinker. The usage of this brand varies dramatically. For Instance, in China, more than 90% of demand is attributable to blended cement, while in the US, the demand is less than five percent.
Non-residential and Infrastructure sector are projected to be the leading segment of the overall Cement market during the forecast period
Non-residential/Infrastructure sector dominated the global cement market and is expected to hold its dominance in the coming years. Moreover, the mega projects such as China's One Belt and One Road (OBOR) infrastructure program are likely to surge the demand for cement over the forecast period. Also, the increasing urbanization is leading to a steady growth of cities, which in turn is estimated to contribute to the growth of this segment. However, this factor is projected to provide a significant push to residential construction. On the other hand, residential construction across the globe has also increased significantly over the past few years. The residential sector is one of the major consumers of cement in many countries due to favorable demographics, improving disposable incomes and growing trend of nuclear families.
Key Development in Cement Industry
July 2014, Aditya Birla Ultratech acquired 2 units of Jaiprakash Associates in order to increase the firm's production capacity to 100 metric tons per year by 2020.
During 2017-18, Ultratech commissioned a Greenfield clinker plant with a capacity of 2.5 MTPA and a cement grinding facility with 1.75 MTPA capacities in Dhar, Madhya Pradesh. The company is expecting to complete a 1.75 MTPA cement grinding facility and a 13 MW waste heat recovery system by September 2018 at the same location.
In May 2018, Ultratech Cement decided to acquire the 13.4 MTPA capacity cement business of Century Textiles and Industries.
Global Cement Market Competitive Landscape
Companies such as Aditya Birla Ultratech, CNBM International Corporation and other global players such as CEMEX S.A.B. de C.V., Heidelberg Cement AG, Italcementi, InterCement, LafargeHolcim, SCG, Taiheiyo Cement Corporation, Titan Cement Group, Votorantim, and Anhui Conch Cement are the leading players of glass packaging market across the globe. Key companies are forming joint ventures, mergers, and acquisitions to increase their market share and product portfolio.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global cement Market size & forecast. The report promises to provide state-of-the-art technology of cement and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
Reasons to Buy This Report:
(A) This research is an invaluable resource for top-level executives, policymakers, industry professionals, sales managers, and market stakeholders. It empowers them to make informed decisions and develop effective strategies.
(B) The report provides a comprehensive analysis of CEMENT market revenues at global, regional, and country levels, offering projections up to 2032. This data allows companies to assess market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the CEMENT market based on types, applications, technologies, and end-uses. This segmentation facilitates strategic planning and resource allocation based on the expected growth rates of each segment.
(D) Investors benefit from an analysis of the CEMENT market, gaining insights into market scope, positioning, key drivers, challenges, growth opportunities, and potential threats. This information aids in making well-informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge equips businesses with a better understanding of the competitive landscape, enabling them to strategize effectively.
(F) The study aids in evaluating CEMENT market predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
What are the pricing trends and strategies in the market?
What are the distribution channels and their effectiveness in reaching the target audience?
What are the regulatory and legal factors impacting the market?
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