Cement Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cement Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Cement Market

The Cement Market size was valued at USD 405.99 billion in 2023, and the market is now projected to grow from USD 423.24 billion in 2024 to USD 592.38 billion by 2032, exhibiting a CAGR of 4.3% during the forecast period of 2024-2032.

With rising cases of COVID-19, market got impacted negatively with changing government regulations, causes limited moment of people and goods. Due to lockdown measures, many manufacturing plants also shutdown in the U.S. and Germany, eventually affected the operations of key players. With the time government of various countries implemented supportive regulations and tried to re-establish their economies to increase Cement Market Growth.

With the growing population the demand for residential spaces such as apartment and private bungalows, as well as amenities within them is growing and fueling the Cement Market Growth. Malls, airports, and office building are also in high demand within growing economies. In developing countries, the growing urbanisation with rising career opportunities, all with government initiatives, is boosting the demand. The global consumption of products such as blocks and roof tiles is also expanding the market reach with high demand. China is the leader in the department of production and consumption both, making the country a major player in the construction market’s expansion, with highest holder of Cement Market Share.

The market is shifting towards eco-friendly and sustainability, driving the demand for green cement high eventually leading Cement Market Growth. With the help of these modifications, environmental impact and emission can be significantly reduced. Green cement are able to reduce carbon footprint by using carbon-negative techniques, reducing pollution, during production. In 2021, Hima Cement, a LafargeHolcim subsidiary, introduced Fundi masonry with a Lower carbon footprint for bricklaying and plastering. The regulatory bodies such as United Nations Environment Program (UNEP) also encouraging the usage and production of environmentally sustainable products.

Comprehensive Analysis of Cement Market

The Cement Market and Chemicals & Advanced Materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the Chemicals & Advanced Materials industry. These segmentations are methodically segregated By Type Analysis and By Application Analysis. The types of applications include, Portland, Blended & Others. However, the end users such as Residential & Non-Residential.

Asia Pacific is the leader of the Cement Market, with USD 299.06 billion in 2023 and continue to be in dominant position due to several factor. The primary factors are the nations such as Asia, China and India, with increasing demand driven by infrastructure and construction growth. China, is playing a role of a leader in production and consumption both and became a major contributor, with factors such as rapid population and infrastructure development.

The top players in the market play a crucial role in the Chemicals & Advanced Materials industry assuring industrial prospectus growth and setting market standards. These players include, CEMEX S.A.B. de C.V. (Mexico), HeidelbergCement (Germany), InterCement Participações S.A. (Brazil), Holcim Ltd. (Switzerland), CRH plc (Ireland), The Siam Cement Group (Thailand), Titan Cement Company S.A. (Greece), UltraTech Cement Limited (India), Votorantim Cimentos (Brazil), Buzzi Unicem S.p.A. (Italy), Mitsubishi Material Corporation (U.S.), Argos USA LLC (U.S.), China National Building Material Co., Ltd. (China), Taiheiyo Cement Corporation (Japan), Drake Cement LLC (U.S.) these market players provide a level-playing competitive landscape.

In April 2023, CEMEX Philippines (CHP) achieved the milestone of a 50% reduction in carbon dioxide emissions generated by two of its cement subsidiaries, APO Cement Corporation and Solid Cement Corporation. Cemex Philippines has reduced 18% of its carbon dioxide emission with the ambition of less than 430 kg of CO2 per ton of cement signifies a 67 percent reduction by 2030.

Segmentation Table

Global Medical Devices Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 6.3% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Type, End-User, and Region

By Type · Orthopedic Devices

· Cardiovascular Devices

· Diagnostic Imaging

· IVD

· MIS

· Wound Management

· Diabetes Care

· Ophthalmic Devices

· Dental Devices

· Nephrology

· General Surgery

· Others

By End-User · Hospitals & ASCs

· Clinics

· Others

By Region · North America (By Type, End-User, and Country)

- U.S. (By Type and End-User)

- Canada (By Type and End-User)

· Europe (By Type, End-User, and Country/Sub-region)

- U.K. (By Type and End-User)

- Germany (By Type and End-User)

- France (By Type and End-User)

- Italy (By Type and End-User)

- Spain (By Type and End-User)

- Rest of Europe (By Type and End-User)

· Asia Pacific (By Type, End-User, and Country/Sub-region)

- China (By Type and End-User)

- Japan (By Type and End-User)

- India (By Type and End-User)

- Australia (By Type and End-User)

- Rest of Asia Pacific (By Type and End-User)

· Latin America (By Type, End-User, and Country/Sub-region)

- Brazil (By Type and End-User)

- Mexico (By Type and End-User)

- Rest of Latin America (By Type and End-User)

· Middle East & Africa (By Type, End-User, and Country/ Sub-region)

- GCC (By Type and End-User)

- South Africa (By Type and End-User)

- Rest of Middle East & Africa (By Type and End-User)