Rockville , Aug. 09, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, states in its newly published market research report that worldwide Portland cement Market is valued at US$ 4.37 billion in 2023. The global market is predicted to expand at a CAGR of 4.7% from 2023 to 2033.
Portland cement finds extensive applications in various sectors, including infrastructure and construction and in the production of plasters, cement bricks, screeds. The ongoing developments in the construction industry are expected to drive the demand for Portland cement in the coming years. Wide availability of different raw materials, such as limestone and other naturally occurring materials, at economical prices further supports the growth of the market.
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Production of Portland cement involves the use of various elements, including silicon, aluminum, iron, and other similar ingredients. Growing demand for concrete, mortar, stucco, and grout is anticipated to boost the sales of Portland cement, as it serves as a fundamental raw material for these essential construction components.
Key Takeaways from Market Study
- The global Portland cement market stood at US$ 4.17 billion in 2022.
- Worldwide demand for Portland cement is estimated at a market value of US$ 4.37 billion in 2023.
- The market is set to reach US$ 6.92 billion by the end of 2033.
- Sales of Portland cement are projected to increase at a CAGR of 4.7% through 2033.
- The market in China is predicted to advance at a CAGR of 8.3% from 2023 to 2033.
- Sales of Portland cement in Japan are forecasted to increase at a 3.2% CAGR through 2033.
- The German market is predicted to expand at a CAGR of 3.9% over the decade.
- Demand for Portland cement from the commercial sector is projected to rise at 5.5% CAGR from 2023 to 2033.
“Growing demand for construction material, including mortar, concrete, grout, and stucco that require Portland cement as one of the primary ingredients is driving market growth,” says a Fact.MR analyst.
Rapid Infrastructure Development Projects Necessitating Increased Utilization of Portland cement
Significant developments taking place in the construction industry are projected to lead to the rising demand for Portland cement in the next 10 years. Concrete plays a crucial role in the construction sector as one of its pivotal components.
Growing demand for the manufacturing of various structural elements such as road furniture, panels, and beams is expected to drive the demand for Portland cement. Additionally, growing construction activities related to dams, foundations, and roads are contributing to a significant demand for Portland cement from the infrastructure sector.
Adverse Environmental and Health Effects of Raw Materials Used in Portland cement Production
Silica, clay, shells, chalk, and limestone are some prominent raw materials that are used in the production of Portland cement. These elements have certain negative effects on human health and the environment. Inhalation of dust particles can irritate the throat and nose and can make breathing difficult. Exposure to Portland cement can result in various health issues, including asthma, burns, hypertension, and, sometimes, even lung cancer.
The manufacturing, mining, and transportation of Portland cement require a significant amount of heat energy that can result in air pollution. Therefore, governments around the world are implementing stringent rules and regulations for the production of Portland cement, which is adversely impacting expansion opportunities.
Key Market Players
Prominent manufacturers of Portland cement are:-
- CEMEX S.A.B. C.V.,
- China National Building Material Co., Ltd.,
- Buzzi Unicem SpA,
- Italccementi S.p.A.,
- EUROCEMENT Group,
- UltraTech Cement Ltd.,
- Heidelberg Cement AG,
- LafargeHolcim.
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Segmentation of Portland Cement Industry Research Report
- By Type:
- Gray
- White
- By End Use:
- Residential
- Commercial
- Infrastructure
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Portland cement market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (gray, white) and end use (residential, commercial, infrastructure), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).
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