New York, US, May 23, 2022 (GLOBE NEWSWIRE) -- Cement Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cement Market Information by Type, End Use, and Region - Forecast till 2030”, the market is estimated to grow at a 6.20% CAGR to reach USD 494.61 Billion by 2030.
Market Scope:
Cement is a binding agent with qualities that aid in retaining or connecting other materials together. Chalks, shells, calcium silicate, and limestone, among other elements, are commonly employed in fine powders of inorganic materials. Cement manufacture is the process of combining the essential elements in a rotary kiln. This process takes place at a temperature of 1450 degrees Celsius. Clinker is produced as a result of this process. This is an intermediate that is processed to produce cement powder. These powders are classified as hydraulic or non-hydraulic. Hydraulic cement dominates the worldwide cement market in terms of overall output.
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Competitive Dynamics:
The most prominent major key players in the cement market all across the globe are
- Shree Cement (India)
- InterCement (Brazil)
- Votorantim (Brazil)
- Titan Cement (Greece)
- TAIHEIYO CEMENT CORPORATION (Japan)
- SCG (Thailand)
- Sunnsy (China)
- Mitsubishi Materials Corporation (Japan)
- Aditya Birla Management Corporation Pvt. Ltd (India)
- Wonderful Sky Financial Group Limited (China)
- CEMEX S.A.B. de C.V. (Mexico)
- BBMG Corporation (China)
- HeidelbergCement AG (Germany)
- Anhui Conch Cement Company Limited (China)
- LafargeHolcim (France)
These major key players employ a variety of strategies to maintain their market position in the global cement market, including mergers and acquisitions, collaboration, forming a new joint venture, forming a partnership, developing a new production process, developing a new product line, innovation in an existing product, and many others to expand their customer base in the untapped cement market all over the world.
Market USPs Covered:
Market Drivers:
Because of the increased need for residential spaces such as apartments and private bungalows, the growing population will have a significant impact on market growth. Furthermore, the industry is predicted to rise faster as demand for amenities in residential areas grows. In addition, the growing need for non-residential enterprises such as malls, airports, industries, roadways, and office buildings is predicted to boost market growth.
Urbanization has become necessary as a result of increased job opportunities and improved quality of life. Government measures to promote construction and infrastructure projects in developing countries will boost demand even more. Furthermore, increased demand for precast items such as blocks, panels, and roof tiles would boost worldwide product consumption. China is currently the world's largest producer and consumer. As a result, the market will rise as the country's construction activities expand.
The growing use of green cement in the construction of environmentally friendly and sustainable structures will boost market growth. Manufacturing processes can be adjusted to significantly reduce emissions as part of an effort to reduce the harm posed by emissions. This item is created with a carbon-negative manufacturing method that reduces pollution during unit operations. It's a long-term strategy that addresses severe environmental issues by lowering carbon emissions during manufacturing.
Market restraints:
It has become critical to keep carbon dioxide emissions low while also preserving energy and material resources for future generations. This is a significant element that targets the market and poses significant hurdles over the projected period of 2021-2030.
Browse In-depth Market Research Report (140 Pages) on Cement: https://www.marketresearchfuture.com/reports/cement-market-2047
COVID-19 Evaluation:
Cement is used in a variety of industries, including the paints and coatings business, as well as the building and construction industry. However, due of the pandemic's dire status, a lockdown was instituted, and work had to be halted in the middle for an extended period. As a result, demand for cement has dropped dramatically. Furthermore, the government imposed numerous limits on operating segments such as production and manufacture, resulting in a decrease in revenue for the cement market and an increased inability to satisfy current demand.
Market Segmentation:
The cement market has been segmented by type and end-user industries all over the world.
Based on the Type
The Portland cement market has the biggest market share. This sort of cement is frequently used in general construction. In addition, Portland cement is classified as having strong sulfate resistance, low heat of hydration, high early strength, general-purpose, and moderate sulfate resistance.
Based on the End-User Industry
The commercial construction business has the biggest market share in the world and controls the whole market.
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Regional Analysis:
The cement market has been segmented into the Asia-Pacific region, European region, Latin American region, North American region, and Middle East and African area depending on region.
The Asia-Pacific region has the biggest market share in the worldwide industry due to the existence of the world's largest and second-largest cement producing industries in this region. This is also the world's fastest-growing region. The market in this region is also driven by rising urbanization and industrialization.
Because of the active presence of infrastructure and commercial industry, North America holds the second-largest market share in the global market. Due to increased demand, the United States is now the third-largest cement user.
Due to the presence of different regulatory, demanding legal, and environmental regulations in this region, the European region holds the third-largest market share in the global market. It offers cost-effective cement.
Because of the presence of Mexico and Brazil, Latin America holds the fourth-largest market share in the global market. Close proximity to the market also increases market demand. Due to increased demand for cement in the Middle East and Africa, the region is experiencing favorable growth and will continue to do so during the forecast period.
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