Cement Market Top Trends 2024: Worldwide Statistics and Facts

 

Overview

A binding substance used to bind different building components is called cement. Compounds of calcium, silicon, iron, and aluminum are finely processed to create a fine powder. The Global Cement Market size is expected to grow from USD 402.89 billion in 2023 to USD 612.12 billion by 2033, at a CAGR of 4.27% during the forecast period 2023-2033. Due to its cohesive and adhesive qualities, it is a necessary component of mortar and concrete. Sand or broken rocks are aggregates that are bound together by a paste made of cement and water.

 

Advancements in Cement

The global market comprises some of the leading companies in the cargo drone industry, such as China National Building Materials Group Corporation, Holcim Ltd, Wabtec Corporation, Alstom, and BBMG Corporation. Cement firms employ tactics like innovative products, geographical expansion, and acquisitions and mergers to stay competitive. For instance, in September 2022, Heidelberg Materials replaced HeidelbergCement as the company name. By 2024, it wants to be the first business to supply carbon-free cement for major construction projects.

 

Government Initiatives and Regional Market Expansion

 

• Anwar Ibrahim, the prime minister of Malaysia, has stated that developers of affordable homes will be given access to a "fair" cement cost. The initiative's target income groups are the Middle 40% (M40) and Bottom 40% (B40), according to the Bernama news agency. The government collaborates with private real estate developers and the Malaysian Cement and Concrete Association (C&CA) to provide lower cement prices. To support the incentive, US$27 million will be given. Under the Rahmah Cement Scheme Initiative, 1Mt of cement would be accessible at a subsidized cost of 29%.  

 

• The Ministry of Commerce and Industry in Kuwait prohibits the export or reexport of any cement and other building supplies from Kuwait. On the other hand, it has made it possible for private persons to import building supplies. The prohibition is one of several policies aimed at halting the rise in the cost of building materials. According to the Kuwait News Agency, cement costs increased when Indian shipments were halted due to the coronavirus outbreak that had returned.

 

• The cement market in Asia-Pacific accounted for the largest share of the market and is anticipated to generate a substantial portion of revenue throughout the course of the projection. Environmental laws are being introduced by governments in the Asia Pacific area more frequently to lower greenhouse gas emissions from the cement industry.

 

Insights and Projections: Global Cement Market Analysis

The report provides a summary of the global top trends and future prospects for the global cement market based on historical data sets (current trends, industry statistics, and emerging trends shaping the cement industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global cement trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions.  

 

Growth Factors and Emerging Trends in the Cement Industry

 

1. A surge in building projects in developing nations

One of the key factors driving the cement market is the rise in building activity in developing countries. The tremendous urbanization and infrastructural development occurring in developing nations is driving up demand for cement, a basic building ingredient. This rise is explained by several important variables. First, emerging countries' landscapes are changing due to urbanization and population increase. There is an increasing need for residential and commercial real estate as well as infrastructure projects like roads and bridges as more people move from rural to urban regions. Particularly noticeable examples of this urbanization tendency are Brazil, China, India, and several African countries. Cement usage has therefore increased dramatically to keep up with the demands of these growing metropolitan populations. Secondly, public policies and infrastructure spending

 

1. Contributions made by the government to construction projects

All around the world, governments understand how critical infrastructure development is to both social progress and economic expansion. They set aside large sums of money for the construction and upkeep of transportation networks, which include airports, railroads, highways, and roads. Massive amounts of cement are needed for these endeavors to build dependable and long-lasting infrastructure. In addition, expenditures made on public buildings such as water treatment plants, schools, and hospitals raise the need for cement. Governments that take the initiative to expand infrastructure guarantee a constant stream of projects, which gives suppliers and makers of cement a solid market.

 

Opportunities and Future Prospects in the Cement Industry

 

1.  Growing real estate market

Another significant factor propelling the global cement market is the growing real estate industry. The demand for residential, commercial, and other real estate properties rises with economies and incomes. This causes construction activity to spike, which in turn fuels cement demand. The construction industry is one of the many subsectors that make up the real estate industry. Cement is needed for flooring, walls, foundations, and other structural components in each segment. Further propelling the market expansion are factors like urbanization, population growth, and shifting lifestyles, which increase the demand for contemporary and aesthetically pleasing structures. The real estate industry is always expanding, especially in emerging economies, which guarantees a robust market for suppliers and producers of cement.

 

List of Key Companies in the Cement Industry

1. Holcim Ltd
2. China National Building Material Group Co., Ltd.
3. Anhui Conch Cement Company Limited
4. HeidelbergCement AG
5. Cemex S.A.B. de C.V.
6. Italcementi
7. China Resources Cement
8. Eurocement
9. Votorantim Group
10. Taiwan Cement

 

Top 5 Players in the Cement Industry

 

1. Holcim.

 

Headquarters: Zug, Switzerland

Holcim is a multinational producer of various construction materials. A leader in the building materials industry was established in 2015 by the combination of Lafarge and Holcim. The company Holcim Ltd. (Holcim) is an expert in offering cutting-edge, environmentally friendly building solutions. A range of building materials are produced and distributed by the company. Cement, aggregates, ready-mix concrete, and various products and solutions like precast, asphalts, mortars, roofing systems, tile adhesive for insulation, and facade solutions are all included in this category. Holcim is known for its low-carbon and circular solutions, which include the brands ECOPlanet and ECOPact. Customers in a variety of industries utilize Holcim's products to improve energy efficiency and advance sustainable building techniques.

 

2. China National Building Material Co Ltd

 

Headquarters: Beijing, China.

China National Building Material Co Ltd is a Chinese business that manufactures and sells building materials. The business is divided into five divisions. Cement manufacturing and sales are the activities of the cement segment. The concrete section is in charge of making and selling concrete. The manufacture and distribution of glass fiber, composite materials, and lightweight building materials are the activities of the New Materials segment. For makers of cement and glass, the Engineering Technology Services category offers equipment procurement and engineering services. The trading of commodities and other activities is the focus of the others category. The company's operations are mostly focused on the home market.

 

3. Anhui Conch Cement Co.

 

Headquarters:   Wuhu City, China.

Anhui Conch Cement Co., Ltd. produces and markets commodity clinker and cement. Anhui Conch Cement Co Ltd (ACC) is a building material company. A variety of cement and clinker products are produced and distributed by it. Cement, aggregate, concrete, and commodity clinker are produced and sold by the company. In addition to cement clinker, it produces fly ash portland cement, low-temperature portland cement, moderately heated portland cement, hybrid portland cement, aggregate portland cement, and ordinary portland cement. The company's goods are employed in the building of housing developments, bridges, and other infrastructure projects.

 

4. Heidelberg Materials AG.

 

Headquarters: Heidelberg, Germany

Heidelberg Materials AG (Heidelberg), previously HeidelbergCement AG, produces and distributes construction supplies. In addition to cement products, it offers raw stone particles like sand and gravel, crushed aggregates made of crushed rock and fragments, and ready-mixed concrete that can be utilized for constructing workplaces, educational institutions, tunnels, roads, and prefabricated concrete parts like stairs, ceiling elements, or structural components. Along with selling asphalt, the company also deals in cement, clinker, solid fuels, secondary cementitious materials, additives, and other building supplies. Heidelberg Materials AG is the new name for the corporation, which was formerly known as HeidelbergCement AG in May 2023. Heidelberg, Germany serves as the headquarters of Heidelberg Materials AG, which was established in 1873.

 

5. UltraTech Cement Ltd

 

Headquarters: Mumbai, India.

In India, UltraTech Cement Ltd is the biggest producer of ready-mix concrete (RMC), white cement, and gray cement. It is also one of the top manufacturers of cement worldwide and the only one (apart from China) with a capacity of more than 100 million tons in a single nation. It can produce 117.35 million tons of grey cement annually (MTPA) at its consolidated capacity. There are 23 integrated plants, 1 clinkerization plant, 27 grinding units, and 7 bulk terminals owned by UltraTech Cement. It operates in Bangladesh, Sri Lanka, Bahrain, India, and the United Arab Emirates. (Including commissioning of four MTPAs by June 2019) UltraTech markets its products in the white cement industry under the Birla White brand.

 

Recent Development

 

• In May 2024, Zhongfu Shenying, a subsidiary of China National Building Material (CNBM) Group, held a supply chain conference in Xining and announced the beginning of their high-performance carbon fiber project, which will produce 25,000 tons per year.

 

• In June 2024, according to a statement and stock exchange statistics, UltraTech Cement has bought the Damani group's share of India Cements Ltd (ICL) through two block deals.

 

• In April 2023, CEMEX Philippines (CHP) accomplished a 50% decrease in carbon dioxide (CO2) released from its two cement companies, Solid Cement Corporation as well as APO Cement Corporation.

 

• In December 2023, Anhui Conch Group Co., Ltd. consented to be acquired by Anhui Conch Cement Company Limited (SEHK:914) for about CNY 130 million from Anhui Conch Information Technology Engineering Co., Ltd.

 

• In May 2022, Holcim has entered into a legally binding contract for the Adani Group to purchase its Indian business, which includes a 63.11% holding in Ambuja Cement, which holds a 50.05% share in ACC, along with a 4.48% direct ownership.

 

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