Cement Market - Outlook and Forecast Market Scope
Cement serves as a binder in construction, functioning as a chemical substance that sets, solidifies, and attaches to other materials, facilitating their cohesion and connection. In the realm of construction, cement typically employed is inorganic and predominantly based on lime or calcium silicate. Cement can be categorized as either hydraulic or, less commonly, non-hydraulic, depending on its capacity to solidify when exposed to water. The cement market has witnessed substantial growth, propelled by various factors including global urbanization, infrastructure development, and the escalating volume of construction projects taking place worldwide. Moreover, the expanding population, growing disposable incomes, and improved living standards have led to a surge in the demand for residential construction. Consequently, this heightened demand for residential projects further stimulates the need for cement . This is anticipated to drive market growth for cement.
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|Key Companies Profiled||Lafarge (France), Holcim (Switzerland), China National Building Material Group Corporation (China), Heidelberg Materials AG (Germany), Cemex, S.A.B. de C.V .(Mexico), China Resources Cement Holdings Limited (China), Sinoma International Engineering Co., Ltd .(China), Shandong Shanshui (China), Taiwan Cement LTD . (Taiwan) and Votorantim Cimentos (Brazil)|
Regional factors such as regulations, infrastructure, and economic conditions shape the competitiveness of the cement market. Growth opportunities arise from urbanization, industrialization, and projects in specific areas. Market concentration and dominant players vary, with multinational companies or local players leading in different regions. These factors result in fierce competition or entry barriers for smaller or new competitors.
Lafarge (France), Holcim (Switzerland), China National Building Material Group Corporation (China), Heidelberg Materials AG (Germany), Cemex, S.A.B. de C.V .(Mexico), China Resources Cement Holdings Limited (China), Sinoma International Engineering Co., Ltd .(China), Shandong Shanshui (China), Taiwan Cement LTD . (Taiwan) and Votorantim Cimentos (Brazil) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are CRH (Ireland), UltraTech Cement Ltd . (India), Buzzi S.p.A . (Italy), Eurocement group . (Russia) and Jaiprakash Associates Limited (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Cement Market - Outlook and Forecast market by Type , by Application (Construction, Infrastructure, Oil & Gas Industry, Water & Wastewater, Defence & Military, Art & Sculpture and Others) and Region with country level break-up.
On the basis of geography, the market of Cement Market - Outlook and Forecast has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn January 2022, Cookstown-based Lafarge Cement Ireland acquired by Cookstown Cement Ltd. The agreement encompasses the acquisition of a cement plant and limestone quarry located in Cookstown, a shale quarry situated in Dungannon, and a facility at Belfast Harbour. The new proprietors have made a pledge to invest USD 55 million in enhancing the environmental capabilities and processes of the facilities, as well as improving overall efficiency., and In May 2022, Adani Group acquired a controlling stake in Holcim Ltd’s Businesses in India for USD 10.5 Billion. Through this acquisition, Adani Group introduced some new cutting-edge technologies which will help to accelerate the path to greener cement production.
In May 2023, ACC and Ambuja Cement, both owned by the Adani Group, inaugurated a state-of-the-art Cement and Concrete Research & Development facility in Kalamboli, Navi Mumbai. The recently established research and development facility enables Ambuja and ACC to propel advancements, optimize costs, and foster sustainable solutions, thereby shaping the trajectory of the cement industry.
Influencing Trend:Increasing use & awareness about Blended cement, offer improved durability & reduced carbon footprint, and The cement industry has witnessed consolidation through mergers and acquisitions
Market Growth Drivers:Economic growth and rising disposable incomes drive construction spending, and Government initiatives to promote construction, infrastructure development, and affordable housing play
Challenges:Adapting new technologies is challenging for cement manufacturers, and Challenges in adapting to customer need to require continuous innovation and flexibility.
Restraints:Rising energy costs can significantly affect the overall production costs and profitability, and Challenges in transportation infrastructure, including inadequate road networks and logistical constraints
Opportunities:The substantial market for the renovation and rehabilitation of existing infrastructure, and Embracing digital technologies can bring opportunities for the cement industry