Portland Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Portland Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global portland cement market size reached 2.2 Billion Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.8 Billion Tons by 2028, exhibiting a growth rate (CAGR) of 3.68% during 2023-2028.

Portland cement is a grey-colored binding and adhesive agent that serves as a key component in the construction industry. It is an inorganic substance which contains large quantities of iron oxide, chromium, manganese and manganese oxide. It also consists of small amounts of chalk, bauxite, shell, clay, marl, slate and shale which are heated at high temperatures. The resulting fine powder is mixed with water, sand and gravel, which solidifies into a hard stone-like substance and is used in masonry. Cement is highly economical, durable product that requires low maintenance, owing to which it finds extensive applications in the construction of bridges, dams, high-rise buildings, and residential and industrial complexes.

The growth of the market is primarily being driven by thriving infrastructure and construction industries, especially in the developing nations. Furthermore, increasing demand for materials such as concrete, mortar, stucco and grout, which utilize portland cement as a key ingredient, is also catalyzing the growth of the industry. These products are used to manufacture plasters, screeds, building foundations and roadbeds. Additionally, rapid urbanization across the globe and increasing infrastructural investments by the governments of various nations are further providing a thrust to the market. Some of these initiatives include public housing projects and the construction of roads for better connectivity to remote areas. Moreover, the infrastructure sector in several countries is receiving significant thrust due to the organization of international entertainment and sporting events such as the FIFA World Cup 2022. Hosting such events requires the construction of housing facilities, stadiums and other amenities that increase the utilization of the product. Other factors, including low procurement costs and easy availability of raw material, are also projected to catalysed the market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global portland cement market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application sector and packing type.

Breakup by Type:

Type 1
Type 2
Type 3
Type 4
Type 5

Breakup by Application Sector:

Residential
Commercial
Industrial

Breakup by Packing Type:

10 KG
15 KG
25 KG
Others

Import-Export Market:

Import
Export

Breakup by Region:

Asia Pacific

China
India
Japan
Others


North America

United States
Canada


Europe

Germany
UK
Others


Middle East and Africa

Saudi Arabia
South Africa
Others


Latin America

Brazil
Argentina
Others
 

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Mitsubishi Cement Corporation, Alamo Cement Company, Lafarge, Martin Marietta, Heidelberg Cement, National Cement Company, American Cement Company, Holcim, Argos, Essroc, China National Building Material, Salt River Materials Group, Italcementi, Anhui Conch Cement, Ash Grove Cement Company, Tanzania Portland Cement Company, Quikrete, CalPortland Company, Capitol Aggregates, CEMEX, GCC of America, Lehigh Hanson, NationalCement Company of Alabama, Ultratech Cement and BuzziUnicem USA, etc.

Key Questions Answered in This Report:

What was the size of the global portland cement market in 2022?
What is the expected growth rate of the global portland cement market during 2023-2028?
What are the key factors driving the global portland cement market?
What has been the impact of COVID-19 on the global portland cement market?
What is the breakup of the global portland cement market based on the type?
What is the breakup of the global portland cement market based on the application?
What is the breakup of the global portland cement market based on the packing type?
What are the key regions in the global portland cement market?
Who are the key players/companies in the global portland cement market?