Latin America Cement Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)
Description
The Latin America cement market size reached around 177.70 Million Tons in 2024. The market is projected to grow at a CAGR of 1.30% between 2025 and 2034 to reach nearly 202.20 Million Tons by 2034. The market growth can be attributed to increasing investments by international financial institutions towards bolstering infrastructure development in the region and rapid economic growth in countries like Brazil and Mexico. The shift towards sustainability and the increasing application of blended cement are further expected to propel the market growth in the coming years.
Latin America Cement Market Report Summary
Description
Value
Base Year
Million Tons
2024
Historical period
Million Tons
2018-2024
Forecast Period
Million Tons
2025-2034
Market Size 2024
Million Tons
177.70
Market Size 2034
Million Tons
202.20
CAGR 2018-2024
Percentage
XX%
CAGR 2025-2034
Percentage
1.30%
CAGR 2025-2034 - Market by Country
Brazil
1.6%
CAGR 2025-2034 - Market by Type
Portland Cement
1.1%
CAGR 2025-2034 - Market by End Use
Residential
1.5%
Market Share by Country 2024
Mexico
23.7%
Latin America Cement Market Growth
In October 2021, cement shipments from Argentina recorded a year-on-year growth of 6%. As per the Portland Cement Manufacturers Association, cement demand recorded a y-o-y growth of 24% during the first 10 months of 2021, and overall shipments increased to 9.9 million.
As per the National Union of the Cement Industry, total cement production in Brazil rose to 54.8 million tons from January to October 2021, thereby recording a year-on-year growth of 7.5%. With the launch of social housing programmes and international tenders for public works development, including the expansion of various metropolitan lines, Brazil is expected to constitute a major portion of the Latin America cement market share.
During January- September 2021, the production of grey cement recorded a year-on-year growth of 22% in Colombia and reached 10,000,000 Mt. Around 9,600,000 Mt of it was shipped to the domestic market, which was a y-o-y growth of 21.6%.
As per the National Statistics Institute, Chile recorded a year-on-year growth of 21.2% in cement production in 2021, totalling 3,214,000 Mt. Over the forecast period, the Latin America cement market development is expected to be driven by increasing investments in the construction sector.
Key Trends and Developments
Growing retail construction in Peru; surging road development projects in Mexico; increasing investments in infrastructure development; and a shift towards net zero emissions are the major factors favouring the Latin America cement market growth.
January 2024
The Secretariat of Communications and Transport in Mexico announced its plans to spend around USD 12.53 billion for building/repairing 8,115 km of roads in 2024. This project is targeted around 51 federal routes to perform maintenance works for reducing traffic congestion and improving people’s safety.
December 2023
During a meeting of the Mercosur trade block, four leading investment banks, including the Inter-American Development Bank (USD 3.4 billion), Brazilian Development Bank (USD 3 billion), the Development Bank of Latin American and the Caribbean (USD 3 billion), and FONPLATA (USD 600 million) announced their decision to make substantial investments to make the “Routes for South American Integration” initiative successful. This includes the construction of new infrastructure projects, such as airports, roads, ports, and electricity transmission projects for better connecting Latin America.
July 2023
Cementos Avellaneda inaugurated a 22MW La Calera solar power plant in San Luis Province. This is expected to supply electricity to its 1.1 Mt/yr cement production facility in the region and make 55% of its operations powered by renewable energy. This can reduce the company’s annual carbon emissions by 22,600 tons.
June 2023
Peru’s National Institute for the Defence of Competition and Protection of Intellectual Property issued a clearance for Grupo Calidra and Unacem to jointly establish a new lime production facility worth USD 40 million, with the latter holding a majority stake. This is expected to facilitate the Latin America cement market development in the upcoming years.
Growing retail construction in Peru
During 2019-2021, the demand for cement grew at a rate of 20% in Peru, the highest of all 6 of the largest economies in Latin America. This was attributed to the growth of private sector investments in the construction industry and rapid infrastructure development by the government to promote economic growth. As per the Latin America cement market analysis, cement demand in Peru is expected to rise steadily in the coming years, driven by increasing government efforts to improve people’s access to adequate housing and transportation.
Road development projects in Mexico
In 2024, the Secretariat of Communications and Transport constructed around 53 new roads in rural areas at an estimated cost of USD 910 million. This is driving the market as road construction demands huge volumes of cement for laying foundations, pavements, and other infrastructure.
Increasing investments in infrastructure development
As per industry reports, Latin America needs to invest around USD 250 billion annually to bridge its existing gaps in infrastructure development during 2024-2028. This is expected to favourably impact the market dynamics as countries bolster their investments in construction projects like buildings, bridges, and road development.
Shift towards net zero emissions
The cement industry of Latin America is targeting net zero emissions by 2050 through wide-ranging measures encompassing the usage of renewable energy resources and decarbonising the cement production process. This commitment is expected to meet increasing regulatory and consumer pressure to adopt sustainable cement production practices to meet climate goals.
Latin America Cement Market Trends
The expansion of retail real estate rental offerings in Peru is driven by the growing consumer demand for memorable shopping experiences and rising cost considerations for branded retail companies. In May 2023, Parque Arauco S.A. announced an investment of USD 60 million to construct Parque La Molina, a 16,000 m² shopping centre in Lima (Peru) offering a wide range of gastronomy and entertainment options, including a gym and a cinema. This is creating a favourable Latin America cement market outlook.
The rapid growth of the housing and construction sector in Latin America has necessitated the use of green building materials to ensure sustained market growth. The regional cement industry aims to achieve 100% decarbonisation via concrete optimisation (19%), ensuring clinker factor reduction (23%), and adopting carbon capture, utilisation, and storage practices (42%). As per the Latin America cement market analysis, the recarbonisation of concrete is further expected to account for an 8% reduction in emissions by 2050, thereby leading to market development.
Latin America Cement Industry Segmentation
The EMR’s report titled “Latin America Cement Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Breakup by Product
Based on end use, the market is segmented into residential and non-residential. Over the forecast period of 2025-2034, the demand for cement in the residential sector is expected to grow at a CAGR of 1.5% amid rapid urbanisation and the rising investments in residential and housing developments. The increasing construction of affordable housing, the rising middle-class population, and surging investments in home improvement activities are also boosting the segment’s growth. As per the Latin America cement market analysis, non-residential construction is expected to witness a healthy growth in the forecast period amid the rising construction of industrial structures, commercial buildings, and industrial projects.
CAGR 2025-2034 - Market by
End Use
Residential
1.5%
Non-residential
XX%
Leading Companies in the Latin America Cement Market
Major players are adopting green energy sources (including solar and wind) for cement production to minimise their carbon footprint. Additionally, they are expanding their production capabilities and enhancing their distribution networks to cater to the increasing demand from infrastructure development projects. This is creating a favourable Latin America cement market outlook.
Moctezuma Corporation
Moctezuma Corporation was founded in 1982 and is headquartered in Mexico City. It is Mexico’s fourth largest cement production company and third largest concrete producing firm.
Holcim Ltd.
Holcim Ltd. was founded in 1912 and is headquartered in Zug, Switzerland. It specialises in producing building materials like cement, ready-mix concrete, and various infrastructure solutions.
CEMENTOS AVELLANEDA S.A.
CEMENTOS AVELLANEDA S.A. was founded in 1919 and is headquartered in Argentina. It specialises in producing lime, cement, concrete, and other essential building materials.
Loma Negra Companía Industrial Argentina S.A.
Loma Negra Companía Industrial Argentina S.A. was founded in 1926 and is headquartered in Puerto Madero. It is a prominent cement production company of Argentina which has around 7 fixed concrete plants, 8 cement production plants, and 1 waste recycling facility.
Other players included in the Latin America cement market report are GCC, S.A.B. de C.V., Cemex, S.A.B. de C.V, PCR S.A., Grupo Argos, KOLCEM SAS, Unacem Perú S.A, and Cooperativa La Cruz Azul, among others.
Latin America Cement Market Report Summary
Description
Value
Base Year
Million Tons
2024
Historical period
Million Tons
2018-2024
Forecast Period
Million Tons
2025-2034
Market Size 2024
Million Tons
177.70
Market Size 2034
Million Tons
202.20
CAGR 2018-2024
Percentage
XX%
CAGR 2025-2034
Percentage
1.30%
CAGR 2025-2034 - Market by Country
Brazil
1.6%
CAGR 2025-2034 - Market by Type
Portland Cement
1.1%
CAGR 2025-2034 - Market by End Use
Residential
1.5%
Market Share by Country 2024
Mexico
23.7%
Latin America Cement Market Growth
In October 2021, cement shipments from Argentina recorded a year-on-year growth of 6%. As per the Portland Cement Manufacturers Association, cement demand recorded a y-o-y growth of 24% during the first 10 months of 2021, and overall shipments increased to 9.9 million.
As per the National Union of the Cement Industry, total cement production in Brazil rose to 54.8 million tons from January to October 2021, thereby recording a year-on-year growth of 7.5%. With the launch of social housing programmes and international tenders for public works development, including the expansion of various metropolitan lines, Brazil is expected to constitute a major portion of the Latin America cement market share.
During January- September 2021, the production of grey cement recorded a year-on-year growth of 22% in Colombia and reached 10,000,000 Mt. Around 9,600,000 Mt of it was shipped to the domestic market, which was a y-o-y growth of 21.6%.
As per the National Statistics Institute, Chile recorded a year-on-year growth of 21.2% in cement production in 2021, totalling 3,214,000 Mt. Over the forecast period, the Latin America cement market development is expected to be driven by increasing investments in the construction sector.
Key Trends and Developments
Growing retail construction in Peru; surging road development projects in Mexico; increasing investments in infrastructure development; and a shift towards net zero emissions are the major factors favouring the Latin America cement market growth.
January 2024
The Secretariat of Communications and Transport in Mexico announced its plans to spend around USD 12.53 billion for building/repairing 8,115 km of roads in 2024. This project is targeted around 51 federal routes to perform maintenance works for reducing traffic congestion and improving people’s safety.
December 2023
During a meeting of the Mercosur trade block, four leading investment banks, including the Inter-American Development Bank (USD 3.4 billion), Brazilian Development Bank (USD 3 billion), the Development Bank of Latin American and the Caribbean (USD 3 billion), and FONPLATA (USD 600 million) announced their decision to make substantial investments to make the “Routes for South American Integration” initiative successful. This includes the construction of new infrastructure projects, such as airports, roads, ports, and electricity transmission projects for better connecting Latin America.
July 2023
Cementos Avellaneda inaugurated a 22MW La Calera solar power plant in San Luis Province. This is expected to supply electricity to its 1.1 Mt/yr cement production facility in the region and make 55% of its operations powered by renewable energy. This can reduce the company’s annual carbon emissions by 22,600 tons.
June 2023
Peru’s National Institute for the Defence of Competition and Protection of Intellectual Property issued a clearance for Grupo Calidra and Unacem to jointly establish a new lime production facility worth USD 40 million, with the latter holding a majority stake. This is expected to facilitate the Latin America cement market development in the upcoming years.
Growing retail construction in Peru
During 2019-2021, the demand for cement grew at a rate of 20% in Peru, the highest of all 6 of the largest economies in Latin America. This was attributed to the growth of private sector investments in the construction industry and rapid infrastructure development by the government to promote economic growth. As per the Latin America cement market analysis, cement demand in Peru is expected to rise steadily in the coming years, driven by increasing government efforts to improve people’s access to adequate housing and transportation.
Road development projects in Mexico
In 2024, the Secretariat of Communications and Transport constructed around 53 new roads in rural areas at an estimated cost of USD 910 million. This is driving the market as road construction demands huge volumes of cement for laying foundations, pavements, and other infrastructure.
Increasing investments in infrastructure development
As per industry reports, Latin America needs to invest around USD 250 billion annually to bridge its existing gaps in infrastructure development during 2024-2028. This is expected to favourably impact the market dynamics as countries bolster their investments in construction projects like buildings, bridges, and road development.
Shift towards net zero emissions
The cement industry of Latin America is targeting net zero emissions by 2050 through wide-ranging measures encompassing the usage of renewable energy resources and decarbonising the cement production process. This commitment is expected to meet increasing regulatory and consumer pressure to adopt sustainable cement production practices to meet climate goals.
Latin America Cement Market Trends
The expansion of retail real estate rental offerings in Peru is driven by the growing consumer demand for memorable shopping experiences and rising cost considerations for branded retail companies. In May 2023, Parque Arauco S.A. announced an investment of USD 60 million to construct Parque La Molina, a 16,000 m² shopping centre in Lima (Peru) offering a wide range of gastronomy and entertainment options, including a gym and a cinema. This is creating a favourable Latin America cement market outlook.
The rapid growth of the housing and construction sector in Latin America has necessitated the use of green building materials to ensure sustained market growth. The regional cement industry aims to achieve 100% decarbonisation via concrete optimisation (19%), ensuring clinker factor reduction (23%), and adopting carbon capture, utilisation, and storage practices (42%). As per the Latin America cement market analysis, the recarbonisation of concrete is further expected to account for an 8% reduction in emissions by 2050, thereby leading to market development.
Latin America Cement Industry Segmentation
The EMR’s report titled “Latin America Cement Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Breakup by Product
- Blended
- Portland
- Others
- Residential
- Non-residential
- Brazil
- Mexico
- Argentina
- Others
Based on end use, the market is segmented into residential and non-residential. Over the forecast period of 2025-2034, the demand for cement in the residential sector is expected to grow at a CAGR of 1.5% amid rapid urbanisation and the rising investments in residential and housing developments. The increasing construction of affordable housing, the rising middle-class population, and surging investments in home improvement activities are also boosting the segment’s growth. As per the Latin America cement market analysis, non-residential construction is expected to witness a healthy growth in the forecast period amid the rising construction of industrial structures, commercial buildings, and industrial projects.
CAGR 2025-2034 - Market by
End Use
Residential
1.5%
Non-residential
XX%
Leading Companies in the Latin America Cement Market
Major players are adopting green energy sources (including solar and wind) for cement production to minimise their carbon footprint. Additionally, they are expanding their production capabilities and enhancing their distribution networks to cater to the increasing demand from infrastructure development projects. This is creating a favourable Latin America cement market outlook.
Moctezuma Corporation
Moctezuma Corporation was founded in 1982 and is headquartered in Mexico City. It is Mexico’s fourth largest cement production company and third largest concrete producing firm.
Holcim Ltd.
Holcim Ltd. was founded in 1912 and is headquartered in Zug, Switzerland. It specialises in producing building materials like cement, ready-mix concrete, and various infrastructure solutions.
CEMENTOS AVELLANEDA S.A.
CEMENTOS AVELLANEDA S.A. was founded in 1919 and is headquartered in Argentina. It specialises in producing lime, cement, concrete, and other essential building materials.
Loma Negra Companía Industrial Argentina S.A.
Loma Negra Companía Industrial Argentina S.A. was founded in 1926 and is headquartered in Puerto Madero. It is a prominent cement production company of Argentina which has around 7 fixed concrete plants, 8 cement production plants, and 1 waste recycling facility.
Other players included in the Latin America cement market report are GCC, S.A.B. de C.V., Cemex, S.A.B. de C.V, PCR S.A., Grupo Argos, KOLCEM SAS, Unacem Perú S.A, and Cooperativa La Cruz Azul, among others.
Table of Contents
164 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Cement Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Cement Historical Market (2018-2024)
- 5.3 Global Cement Market Forecast (2025-2034)
- 5.4 Global Cement Market by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 Latin America Cement Market Overview
- 6.1 Key Industry Highlights
- 6.2 Latin America Cement Historical Market (2018-2024)
- 6.3 Latin America Cement Market Forecast (2025-2034)
- 7 Latin America Cement Market by Product
- 7.1 Blended
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Portland
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Others
- 8 Latin America Cement Market by End Use
- 8.1 Residential
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Non-residential
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 Latin America Cement Market by Country
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Mexico
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Argentina
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators of Demand
- 10.4 Key Indicators of Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profile
- 11.5.1 GCC, S.A.B. de C.V.
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 Cemex, S.A.B. de C.V
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Loma Negra Companía Industrial Argentina S.A.
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Holcim Ltd.
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 CEMENTOS AVELLANEDA S.A.
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 PCR S.A.
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Moctezuma Corporation
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 Grupo Argos
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 KOLCEM SAS
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Unacem Perú S.A
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Cooperativa La Cruz Azul
- 11.5.11.1 Company Overview
- 11.5.11.2 Product Portfolio
- 11.5.11.3 Demographic Reach and Achievements
- 11.5.11.4 Certifications
- 11.5.12 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
