Cement

Global Cement Market to Reach US$474.2 Billion by 2030

The global market for Cement estimated at US$406.4 Billion in the year 2024, is expected to reach US$474.2 Billion by 2030, growing at a CAGR of 2.6% over the analysis period 2024-2030. Portland Cement, one of the segments analyzed in the report, is expected to record a 2.5% CAGR and reach US$283.7 Billion by the end of the analysis period. Growth in the Blended Cement segment is estimated at 3.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$109.8 Billion While China is Forecast to Grow at 5.2% CAGR

The Cement market in the U.S. is estimated at US$109.8 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$94.9 Billion by the year 2030 trailing a CAGR of 5.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.7% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.

Global Cement Market - Key Trends & Drivers Summarized

What Is Cement and How Is It Integral to Modern Construction?
Cement is a vital component of concrete, the most widely used construction material in the world. It acts as a binding agent that, when mixed with water and aggregates (sand and gravel), forms concrete. Cement is predominantly made from a mixture of clays and limestone, which is heated in a kiln. The resulting clinker is then ground into a fine powder, often with added gypsum to control the setting time. This versatile material is fundamental in constructing infrastructure such as buildings, roads, and bridges due to its strength, durability, and ability to harden under water.

How Are Technological Advancements Impacting Cement Production?
Technological advancements are significantly enhancing cement production efficiency and sustainability. Modern cement plants have embraced automation and robotics, which have increased production rates and consistency while reducing human error. Innovations in kiln design, such as the use of alternative fuels like biofuels and waste derivatives, are reducing reliance on traditional fossil fuels and lowering carbon emissions. Additionally, advancements in material science have led to the development of blended cements that incorporate industrial by-products such as fly ash and slag. These materials not only help in reducing the amount of clinker required, thus lowering the environmental impact, but also enhance the final concrete`s properties such as durability and resistance to chemicals.

What Trends Are Influencing the Cement Industry?
Several key trends are shaping the cement industry, driven by the global push towards sustainability and efficiency. The rising demand for green buildings and sustainable infrastructure is prompting cement manufacturers to produce eco-friendly cement types that emit less carbon and utilize recycled materials. The urbanization trend in emerging economies is another major driver, as the need for new infrastructure and housing fuels demand for cement. Moreover, regulatory pressures for more environmentally friendly construction practices are leading to innovations in cement formulations. The industry is also witnessing a shift towards the use of renewable energy sources in production processes as part of broader sustainability goals.

What Drives the Growth of the Cement Market?
The growth in the cement market is driven by several factors. Significant infrastructure developments across emerging nations are a primary driver, as these require substantial amounts of cement for urban development and transportation networks. The resurgence of construction activities in developed regions also contributes to the demand for cement. Technological advancements that have led to the production of high-performance cement products are enabling manufacturers to meet the modern construction industry`s complex requirements. Furthermore, the increasing adoption of sustainable construction materials among consumers and regulatory bodies is pushing cement manufacturers to innovate and develop greener cement alternatives. Additionally, investments in infrastructure projects, such as roads, bridges, and ports, and the recovery of the residential construction sector globally, are pivotal in driving the demand for cement.

SCOPE OF STUDY:

The report analyzes the Cement market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Cement Type (Portland Cement, Blended Cement, Other Cement Types); End-Use (Residential End-Use, Commercial End-Use, Infrastructure End-Use)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 282 Featured) -

• Adelaide Brighton Ltd.
• Anhui Conch Cement Company Limited
• Boral Ltd.
• Cemex, Inc.
• China National Building Material Co., Ltd.
• CRH PLC
• Eagle Materials, Inc.
• HeidelbergCement AG
• LafargeHolcim Ltd.
• Taiheiyo Cement Corporation
• Tokuyama Corporation
• USG Corporation
• Vulcan Materials Co.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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