(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The "Cement market by Product (Colored Portland Cement, Hydrophobic Cement, Low Heat Portland Cement), Application (Commercial Construction, Industrial Construction, Infrastructure Construction), End User, Distribution Channel, and Region - Global Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering. The Cement Market grew from USD 437.03 billion in 2023 to USD 456.75 billion in 2024. It is expected to continue growing at a CAGR of 4.71%, reaching USD 603.56 billion by 2030.
The market for cement is being driven by several key factors, including the significant growth in residential construction activities, which is fueled by population growth. Additionally, increasing investments from both the private and public sectors in infrastructure development are contributing to the market's expansion. A surge in renovation and remodeling activities in both residential and commercial spaces further supports this growth.
However, the market faces some restraints, such as fluctuating raw material costs and transportation challenges. On the other hand, there are promising opportunities, particularly with technological advancements in cement production, which are enhancing efficiency and output. Furthermore, the government's push towards sustainable and green buildings is boosting demand for eco-friendly cement. Nonetheless, the industry also faces challenges, especially in managing carbon emissions and achieving net-zero targets in cement production.
These market dynamics represent an ever-changing landscape of the Cement Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Recent Developments
Cemex sells Guatemalan operations to Holcim Group
Cemex has announced the sale of its manufacturing operations in Guatemala, a strategic move aimed at optimizing its global asset portfolio. Cemex aims to enhance operational efficiency and redirect capital to more strategic regions for cement production.
Adani's Ambuja Cements acquired Penna Cement for INR 10,422 crore
Ambuja Cements Limited, under Adani Cement, has acquired Penna Cement Industries for INR 10,422 crore as part of its strategic expansion. This acquisition strengthens Ambuja's presence and provides a platform to improve production capabilities through Penna's 14 million tonnes per annum (MTPA) capacity.
CRH acquired USD 2.1 billion cement and concrete assets in Texas to enhance efficiency
CRH made a USD 2.1 billion acquisition of cement and concrete assets in Texas from Martin Marietta Materials. The transaction includes a 2.1 metric tonne capacity cement plant and 20 ready-mixed concrete plants, expected to generate USD 170 million in 2023. By leveraging its cement expertise, CRH aims to enhance synergies and self-supply opportunities.
Market Dynamics
Drivers Significant Growth of Residential Construction Activities Fueled by Population Growth Increasing Private and Public Sector Investments in Infrastructure Development Surging Renovation and Remodeling Activities in Both Residential and Commercial Spaces
Restraints Fluctuating Cost of Raw Materials and Transportation Issues
Opportunities Technological Advancements in Cement Production Enhancing Efficiency and Output Government Push Towards Sustainable and Green Buildings Boosting Eco-Friendly Cement
Challenges Challenges in Managing Carbon Emissions and Achieving Net-Zero Targets in Cement Production
This research report offers invaluable insights into various crucial aspects of the Cement Market:
Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
What is the current market size and projected growth? Which products, segments, applications, and regions offer promising investment opportunities? What are the prevailing technology trends and regulatory frameworks? What is the market share and positioning of the leading vendors? What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $456.75 Billion |
| Forecasted Market Value (USD) by 2030 | $603.56 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Market Segmentation & Coverage
This research report categorizes the Cement Market to forecast the revenues and analyze trends in each of the following sub-markets:
Product Colored Portland Cement Hydrophobic Cement Low Heat Portland Cement Ordinary Portland Cement Portland Blast Furnace Cement Portland Pozzolana Cement Rapid Hardening Cement Extra Rapid Hardening Portland Cement Ultra High Early Strength Cement
Sulphate Resisting Cement
Application Commercial Construction Industrial Construction Infrastructure Construction Bridges Roads & Highways Tunnels
Institutional Construction Residential Construction
End User Construction Companies Contractors Government Bodies Real Estate Developers
Distribution Channel
Company Coverage:
Adani Group Aditya Birla Group Ashtech India CEMEX China National Building Material Group China Resources Cement Holdings Cimpor Group CRH Dalmia Bharat Dangote Cement HeidelbergCement Holcim Group Huaxin Cement Co. Ltd. India Cements. InterCement Participacoes JSW Cement Kamdhenu Cement Mitsubishi Materials Corporation Shandong Shanshui Cement Group Shree Cement Limited Summit Materials, Inc. Taiheiyo Cement Titan Cement Group Tokuyama Votorantim Cimentos
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