High disposable income and increasing number of nuclear families and rising need for accommodation development are some factors which drive the market of cement. Moreover, growing demand for housing, rapid urbanization among others are encouraging factors for cement market. Government initiatives for providing good infrastructure facility, roads and bridges are further fueling the demand for cement market. However, the rising production cost makes these features unaffordable for consumers and hamper the market of cement. Global cement market is expected to grow at a CAGR of approximately 8% during the forecast period.
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The industry which is an indicator of economic health is showing ascendant levels of growth in the recent years. The rising levels of construction projects being launched worldwide are spurring the market’s expansion. Due to these market developments manufacturers are boosting their production capacities and engaging in research and development to back this growth phase of the cement market. The rising level of investment by individual in multiple properties is another factor powering the growth of the market.
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- UltraTech Cement Limited
- CEMEX S.A.B. de C.V.
- China National Building Material Company Ltd.
- Mitsubishi Materials Corporation
- Holcim Ltd
- Anhui Conch Cement Company Ltd
- HeidelbergCement AG
- Jidong Development Group Co. Ltd.
- Shanshui Cement Group Ltd.
Sep 2018 Cemex is planning to restart commercial production on the second kiln at its South Ferriby cement plant in November 2018. The company says that this investment highlights its confidence in the long-term potential of the UK building materials market. Once fully ready both kilns at the plant will give it a production capacity of 0.7Mt/yr.
Sep 2018 Dangote has unveiled its new BlocMaster Cement, describing it as extra strong and ideal for block moulding in Nigeria. It had been tested and approved by builders throughout Nigeria making it particularly useful during the rainy season. BlocMaster is reportedly suitable for all construction purposes and Dangote hopes it will help address the issue of building collapse in Nigeria
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The variety witnessed in terms of strategy creation and execution is changing the development pace of the market. The gaps in the market are filled owing to the carrying out of appropriate supply chain strategies. Additionally, the expansion of new products and services will add further momentum to the market development. The framework for growth plans has equipped the market for possible new entrants. The development in the products and services is the principal factor increasing the market’s efficiency and controlling the trends that are gaining distinction in the market. The influential success factors and players’ preferences are slowly but surely mounting by the strategies being used by market contenders. The key competitors working in the market for cement globally are Holcim Ltd, Lafarge, Anhui Heidelberg Cement AG, Conch Cement Company Ltd, China National Building Material Company Ltd., CEMEX S.A.B. de C.V., Jidong Development Group Co. Ltd., Mitsubishi Materials Corporation, UltraTech Cement Limited, and Shanshui Cement Group Ltd.
Detailed Regional Analysis
The regional analysis of the market consists of regions such as North America, Asia Pacific, Europe and rest of the world. The Cement market for the most part depends on the global construction and building activities. The cement market is highly driven by applications and systems are getting popularity from various end user. The Asia Pacific region is likely to be responsible for the largest portion, in terms of value, of the cement market globally. This can be largely attributed to the construction and expansion of infrastructure. The government initiatives such as growth of smart cities are giving a huge boost to the sector. The North American and European region are followed by the Asia Pacific region. An escalating number of limestone detections in the east and the simplicity of the transport system have led to the speedy growth of cement industry.
Global Cement Market – Segments
Global Cement Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type : Comprises – Rapid Hardening Cement, Low Heat Cement, High Alumina Cement, White Cement, Colored cement, Hydrographic cement and other
Segmentation By Application : Comprises – construction, infrastructure
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Cement Market – Regional Analysis
Major growth and investment in cement and construction material market is seen in APAC countries. The region is expected to witness staggering growth in the forecast period. The region is offering flourishing markets to the international companies to push the market. The companies are seen investing in the innovation of new advanced technologies in APAC region, especially in China, India, Indonesia, among others and this is expected to boost the cement market demand.
Moreover, the Chinese government issued several favourable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. China accounts for the major share in the APAC cement market. India, on the other hand, is seeking increase in private funding solutions in the provision of much of the new infrastructure needed. However, the reconstruction is only expected to provide a short-term boost to construction activity that is likely to return to trend later in the decade. In Southeast Asia relatively strong construction spending growth is also expected in Indonesia and Vietnam, as both countries upgrade infrastructure to support their growing populations.
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