The increasing global population and rapid urbanization are resulting in the growing requirement for the construction of residential and commercial buildings. The global cement market size reached US$ 363.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 518.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.22% during 2023-2028.

Cement Market Outlook:

According to the latest report by IMARC Group, titled “Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global cement industry outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global cement market size reached US$ 363.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 518.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.22% during 2023-2028.

Cement is a mineral powder that is used as a binding agent in civil engineering and building construction projects. It is manufactured by grinding a mixture of limestone, clay, and marl and is mixed with water to form a hard mass. It offers numerous advantages, including providing noise insulation, withstanding extreme changes in weather conditions, and resisting chemical attacks. Consequently, it is widely used in the construction of various structures, such as residential and commercial buildings, healthcare and educational facilities, retail stores, and office buildings. Additionally, it is used for designing facades and decorative features on buildings, as well as in the development of critical infrastructure, such as bridges, harbors, runways, and roads.

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Global Cement Market Trends:

The market is primarily driven by significant growth in the construction industry. Moreover, the emerging trend of the nuclear family is resulting in the rising need for residential spaces, such as studio apartments and private bungalows, which in turn is providing a boost to the market. Besides, the governments are undertaking various initiatives to promote the use of green cement, which aids in reducing the consumption of natural raw materials, such as water is creating a positive market outlook. Furthermore, the improving focus on sustainable development is further augmenting the market. Other factors, including a significant rise in remodeling and renovation and continuous improvements in organized distribution channels, are also influencing the market.

Competitive Landscape:

By IMARC group the report has also analyzed the competitive landscape of the market with some of the top 10 cement manufacturing companies being

China National Building Material Co., Ltd. (CNBM)
LafargeHolcim Ltd.
Anhui Conch Cement Co., Ltd.
Heidelberg Cement AG
UltraTech Cement Ltd.
Votorantim Participações S. A.
InterCement Brasil S.A.
Buzzi Unicem USA, Inc.

Key Market Segmentation:                  

Breakup by Type:


Breakup by End Use:


Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Historical, Current, and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape

Explore the Full Report with TOC & List of Figures

TOC for the Report:

Scope and Methodology
Executive Summary
Global Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

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