Top 10 Cement Companies in World 2024: Trends, Price and Statistics Overview

 

Overview

Cement refers to adhesive substances in general, however, more specifically, it is the binding materials utilized in construction for building and civil engineering projects. 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. The rise in construction projects in developing countries has become a crucial factor for the cement market. Developing nations are undergoing fast urbanization and building of infrastructure, causing a rise in the need for cement as a key building material.

 

Competitive Landscape

The cement industry is highly competitive as companies strive to create original and innovative products and solutions that might make their rivals' offerings outdated. The competitive landscape is expected to expand more due to increasing technological advancements. Holcim, Heidelberg Materials, BBMG Corporation, CEMEX, Taiwan Cement Ltd., Anhui Conch Cement Company Limited, Mitsubishi Materials Corporation, Siam Cement Group, UltraTech Cement Limited, and Bhavya Cements Private Limited are among the important players in the Cement Market. Key companies are focusing on acquiring other companies and innovating products in order to expand their reach and customer base worldwide. For instance, On May 24, 2023, China National Building Material (CNBM) Group initiated a high-capacity carbon fiber project with a yearly production of 25,000 tons.

 

Green Revolution in Cement: How India's Eco-Friendly Advancements and Asia-Pacific Growth Shape the Global Market

Due to a greater focus on protecting the environment, the Indian cement industry ranked second globally in production, has made notable advancements in its techniques and procedures over recent years. It has guaranteed that sustainable practices are incorporated into all strategies to create an eco-friendly manufacturing environment. This strategic decision has positioned the industry as a top global player in adopting eco-friendly measures. Furthermore, Asia Pacific is projected to maintain its dominance during the forecast period. This can be ascribed to the rising demand for the product in emerging countries like Southeast Asia, China, and India. Development in infrastructure and construction projects plays a crucial role in driving the market in this area. China's leading role in global production and consumption positions it as the main driver of market expansion in the region. The nation's leading position is due to factors such as the quick increase in population and infrastructure development projects in the area. Moreover, the increasing need for housing in the nation will bolster market expansion in China.

 

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 Market

 

1. Rising Use of Environmentally Friendly Cement to Enhance Growth Opportunities.

The increased use of environmentally friendly green cement in building eco-conscious and sustainable structures will drive market expansion. To decrease the danger of emissions, manufacturing procedures can be altered to significantly reduce emissions. This product utilizes a manufacturing process that is carbon-negative to reduce pollution in unit operations. It is a sustainable answer that tackles significant environmental issues by decreasing carbon emissions in the manufacturing process. In 2021, Hima Cement, a branch of LafargeHolcim, introduced a Fundi masonry material with reduced carbon emissions that is used for bricklaying, plastering, and mortar projects. Furthermore, the United Nations Environment Program (UNEP) also advocates for the development and implementation of new environmentally friendly and affordable products. Therefore, these factors will lead to an increase in the demand for green cement in the upcoming years.

 

1. Government funding for infrastructure developments can increase the need for cement.

Government investment in infrastructure projects, such as building or repairing roads, bridges, airports, schools, hospitals, and other public works can lead to a significant increase in the demand for cement and other building materials. Cement is a key component in construction projects, and as more projects are initiated and completed, the demand for this material also increases. This can have a positive impact on the cement industry as a whole, as well as on related sectors, such as transportation, logistics, and manufacturing. Moreover, increased government investment in infrastructure can have a broader economic impact. It can create jobs in the construction and related industries, as well as in the supply chain, such as cement transportation and storage. Overall, government investment in infrastructure projects can be a powerful driver of economic growth, job creation, and industry expansion, while addressing critical societal needs at the same time.

 

Opportunities and Future Prospects in the Cement Market

 

Rising construction demand will help drive market growth.

The growing population will have a significant impact on market expansion due to the rising demand for housing, including apartments and private villas. Moreover, the increasing need for features in living areas is projected to boost market growth. Additionally, the increasing demand for commercial facilities like shopping centers, airports, factories, highways, and corporate structures is forecasted to bolster market expansion. The demand for urbanization has been driven by career prospects and improved quality of life. Government efforts to aid construction and infrastructure projects in developing nations will also boost the demand. Furthermore, the increasing need for precast items like blocks, panels, roof tiles, and more will lead to a rise in global product usage. At present, China holds the top spot as both the leading producer and consumer globally. Therefore, the increase in construction projects will contribute to the expansion of the market in this nation.

 

List of Key Companies in the Cement Market

• CEMEX S.A.B. de C.V.
• HeidelbergCement
• InterCement Participações S.A.
• Holcim Ltd.
• CRH plc
• The Siam Cement Group
• Titan Cement Company S.A.
• UltraTech Cement Limited
• Votorantim Cimentos
• Buzzi Unicem S.p.A.
• Mitsubishi Material Corporation
• Argos USA LLC
• China National Building Material Co., Ltd.
• Taiheiyo Cement Corporation
• Drake Cement LLC

 

Top 5 Key Players Profile in Cement Market

 

1. Heidelberg Materials

 

Headquarters: Heidelberg, Baden-Württemberg

Heidelberg Materials is among the biggest companies globally that produce building materials and solutions, holding top market positions in cement, aggregates, and ready-mixed concrete. Heidelberg's presence spans 50+ countries with a workforce of over 51,000 employees spread across nearly 3,000 locations. The environment is Heidelberg's responsibility and sits at the core of actions. As the leader in promoting carbon neutrality and circular economy within the building materials sector, Heidelberg focused on developing sustainable building materials and solutions for tomorrow. Heidelberg creates new chances for clients by embracing digital transformation.

 

2. INTERCEMENT

 

Headquarters: São Paulo

InterCement, established in Brazil in 1974, is among the biggest global producers of cement. The company manufactures and delivers cement, aggregates, concrete, and limestone to wholesalers, distributors, concrete producers, industrial customers, and more. InterCement operates in five countries – Brazil, South Africa, Argentina, Egypt, and Mozambique, promoting financial discipline, operational excellence, and sustainability. The company creates economic, social, and environmental value in its locations, and is known for using alternative fuels for cement co-processing.

 

3. HOLCIM

 

Headquarters: Zug

Holcim, with net sales of CHF 27.0 billion in 2023, is a worldwide frontrunner in creative and eco-friendly construction solutions. Motivated by the goal to create advancement for individuals and the environment, Holcim's 63,448 staff members are dedicated to reducing carbon emissions from buildings and enhancing the quality of life for everyone. Holcim gives customers in every area the tools to construct more efficiently using a variety of sustainable solutions like ECOPact, ECOPlanet, and ECOCycle. Holcim employs innovative systems like Elevate roofing and PRB insulation to enhance building sustainability, promoting energy efficiency and environmentally-friendly renovations.

 

4. CEMEX

 

Headquarters: Monterrey, Nuevo León

CEMEX S.A.B. de C.V., commonly referred to as Cemex, is a Mexican global company that specializes in building materials and is based in San Pedro, close to Monterrey, Nuevo León, Mexico. It produces and sells cement, ready-mix concrete, and aggregates globally in over 50 nations.

 

5. UltraTech Cement

 

Headquarters: Mumbai, India

India's largest producer of grey cement, Ready Mix Concrete (RMC), and white cement is UltraTech Cement Ltd. It is one of the top cement producers worldwide as well. UltraTech is characterized by its 'strength', 'reliability', and 'innovation'. These characteristics motivate engineers to push the boundaries of their creativity in designing residences, edifices, and frameworks that characterize the modern India.

 

Recent Developments

 

• In May 2024, Heidelberg Materials purchased the biggest provider of powdered fly ash in Malaysia and a combined cement factory in Central Java, Indonesia via its branch 'Indocement.' These purchases enhanced its position in the market.

 

• In May 2024, Heidelberg Materials obtained funding of up to $500 million for its biggest carbon capture, utilization, and storage (CCUS) project so far. The goal of the company's cement plant project in Indiana, US is to greatly decrease its carbon emissions.

 

• In April 2024, Holcim, a top producer of concrete products, finalized a deal to purchase Tensolite, a well-known maker of precast and pre-stressed concrete building systems. This will increase its range of products in Argentina and enhance its position in the Latin American markets.

 

• In February 2024, Cemex created a new strategy to lower CO2 emissions during cement manufacturing. Micronization, the process of reducing the size of clinker particles, decreases the clinker factor per ton of cement, thereby reducing the carbon footprint. This improves the effectiveness and durability of the end product.

 

• In April 2023, CEMEX Philippines (CHP) reached a significant achievement by cutting carbon dioxide emissions in half at two of its cement subsidiaries, APO Cement Corporation and Solid Cement Corporation. Cemex Philippines has achieved an 18% decrease in carbon dioxide emissions, aiming for less than 430 kg of CO2 per ton of cement, which represents a projected 67% reduction by 2030.

 

About the Spherical Insights & Consulting

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