Home » Advanced Materials » Cement Market

Cement Market

Cement Market By Type (Portland Cement, Blended Cement, Others); By Application (Residential, Non-Residential); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
Cement Market Size 2023	USD 405,631.23 Million
Cement Market, CAGR	4.50%
Cement Market Size 2032	USD 602,806.60 Million

Market Overview

The global Cement Market is projected to grow from USD 405,631.23 million in 2023 to an estimated USD 602,806.60 million by 2032, with a compound annual growth rate (CAGR) of 4.50% from 2024 to 2032. This growth reflects the ongoing demand for cement in both residential and commercial construction sectors worldwide.

Several key drivers are propelling the global cement market’s growth, including rising infrastructure investments, government initiatives for affordable housing, and the growing construction activities in both developing and developed regions. The demand for low-carbon and energy-efficient cement, driven by global sustainability goals, is a notable trend that is reshaping the industry. Additionally, innovations such as green cement and alternative raw materials are gaining traction, aligning with environmental mandates and consumer preferences for sustainable building solutions.

Geographically, the Asia-Pacific region dominates the cement market due to rapid urbanization and industrialization, especially in countries like China and India. North America and Europe are also experiencing steady growth, primarily driven by increasing investments in infrastructure modernization and sustainable construction practices. Key players in the market include LafargeHolcim, Anhui Conch Cement, HeidelbergCement AG, and China National Building Material Company, who continue to focus on expanding production capacities, investing in R&D, and adopting innovative materials to maintain a competitive edge.

Access crucial information at unmatched prices!

Request your sample report today & start making informed decisions powered by Credence Research!

Download Sample

Market Drivers

Rapid Urbanization and Infrastructure Development:

The global cement market is significantly driven by the rapid urbanization and infrastructure development witnessed across various regions, especially in emerging economies. As people continue to migrate from rural to urban areas, the demand for housing, commercial spaces, and improved public infrastructure increases correspondingly. Developing countries, in particular, are experiencing a construction boom, requiring vast quantities of cement for roads, bridges, schools, hospitals, and residential complexes. For instance, according to the United Nations, the number of megacities (cities with over 10 million inhabitants) is projected to increase from 33 in 2018 to 43 by 2030, with most of this growth occurring in developing regions. This rapid urbanization is driving massive demand for cement and concrete to build the necessary infrastructure and housing. Urbanization not only necessitates housing but also extends to supporting infrastructure such as transportation, utilities, and waste management systems, all of which rely heavily on cement as a foundational material. The trend towards smart cities and urban redevelopment projects further strengthens demand, encouraging market growth as governments and private sectors invest in sustainable, long-lasting construction.

Government Initiatives and Investments in Affordable Housing:

Government initiatives focused on affordable housing and infrastructure development play a crucial role in driving the global cement market. In regions like Asia-Pacific, Africa, and parts of Latin America, governments are actively promoting large-scale housing programs aimed at improving living standards and accommodating growing populations. These initiatives often encompass affordable housing schemes, rural development projects, and low-cost housing programs. In India, for instance, the “Pradhan Mantri Awas Yojana” aims to provide housing for all by 2022, creating a substantial demand for cement. Similar programs are found in many countries where governments partner with private sectors to meet housing needs. Such initiatives directly boost cement demand, especially when governments allocate funding for new housing developments, infrastructure upgrades, and rural revitalization. This driver is especially relevant in countries where affordable housing is prioritized as a means of supporting economic growth and social welfare.

Increased Focus on Sustainable Construction Practices:

The rising emphasis on sustainability within the construction industry is another critical driver for the cement market. As global awareness of environmental concerns grows, more countries and companies are adopting sustainable practices and eco-friendly construction materials. Cement production is traditionally a high-carbon process, but recent advancements have introduced low-carbon cement, alternative fuels, and energy-efficient production techniques. The demand for green cement, in particular, is rising as construction companies aim to reduce their carbon footprint and adhere to environmental regulations. Innovations such as carbon capture and storage (CCS) technologies, the use of waste materials as alternative raw ingredients, and clinker substitution are gradually transforming cement manufacturing processes. Consumers and governments alike are pushing for stricter environmental standards, and cement manufacturers are responding with sustainable options. This shift toward green cement not only meets regulatory requirements but also aligns with consumer demand for more responsible construction materials, reinforcing the long-term growth of the market.

Growing Construction Activities in Developing Regions:
Developing regions, especially in Asia-Pacific, the Middle East, and Africa, are seeing a surge in construction activity, which is a key driver for cement demand. Rapid industrialization in these areas is leading to the construction of factories, warehouses, office buildings, and related infrastructure, creating a heightened demand for cement. Additionally, these regions are focusing on improving public infrastructure, including transportation networks, power generation facilities, and water management systems. The Belt and Road Initiative (BRI) in China, for example, is a multi-country infrastructure development project that has fueled massive cement demand, as China builds roads, ports, and railways in partner nations. Similarly, infrastructure projects in Africa, backed by both public and private investments, have intensified cement consumption. With industrialization being an economic priority for developing regions, investments in manufacturing and infrastructure have created significant opportunities for cement producers.

Market Trends

Shift Towards Green Cement and Sustainable Practices

A major trend in the global cement market is the increasing adoption of green cement and sustainable manufacturing practices. Cement production has historically been a significant source of carbon emissions, prompting the industry to explore environmentally friendly alternatives. Companies are investing in innovations that reduce carbon footprint, including carbon capture and storage (CCS) technologies, alternative fuels, and low-carbon production methods. The shift toward green cement—produced using lower energy consumption and alternative raw materials—is becoming more prevalent as construction firms strive to align with global sustainability goals and meet stringent environmental regulations. This trend is further driven by government policies encouraging green construction and by growing consumer preference for eco-friendly buildings. Additionally, the adoption of circular economy practices, such as recycling construction waste and utilizing industrial by-products as raw materials in cement production, is gaining traction. The commitment to sustainable development is pushing cement manufacturers to prioritize green cement in their product portfolios, making it a prominent growth area in the market.

Increased Technological Advancements and Digital Transformation

Technological advancements are reshaping the global cement industry, with companies increasingly integrating digital tools and automation in production and operational processes. Digital transformation, including the use of data analytics, artificial intelligence, and the Internet of Things (IoT), is enhancing process optimization, reducing operational costs, and improving efficiency in cement plants. Real-time monitoring and predictive maintenance systems are helping manufacturers prevent equipment downtime and extend machinery life, ultimately boosting productivity. For instance, a major cement manufacturer implemented an AI-driven predictive maintenance system that reduced unplanned downtime by 30%, saving approximately 720 hours of production time annually. Additionally, automation in cement production has enabled more precise control over raw material mixing, reducing energy consumption and minimizing waste. Industry players are also adopting blockchain technology for enhanced transparency in supply chains, improving traceability, and ensuring quality consistency. The implementation of digital solutions not only supports sustainability by reducing emissions but also allows companies to respond dynamically to market demands, making them more competitive. This trend toward digitalization reflects the cement industry’s focus on increasing operational efficiency and adapting to the demands of a modern, environmentally conscious market.

Market Restraints and Challenges

High Carbon Emissions and Environmental Regulations

One of the primary challenges facing the global cement market is the high level of carbon emissions associated with cement production. The process of manufacturing cement, especially the calcination of limestone, generates significant CO₂ emissions, making it one of the most carbon-intensive industries. As climate change concerns rise, governments worldwide are implementing stringent environmental regulations to reduce industrial emissions. Compliance with these regulations requires cement manufacturers to adopt costly technologies and modify production processes, which can increase operational expenses. The pressure to meet carbon reduction targets while maintaining profitability has created substantial challenges for the industry. Furthermore, the demand for sustainable alternatives, such as green cement, while promising, also necessitates considerable R&D investment and shifts in manufacturing practices, posing a restraint for smaller companies with limited resources.

Volatility in Raw Material Prices and Supply Chain Disruptions

The global cement market faces ongoing challenges related to the volatility of raw material prices and disruptions in supply chains. Cement production relies heavily on raw materials such as limestone, clay, and gypsum, whose prices can fluctuate due to geopolitical tensions, trade restrictions, or shifts in energy costs. Price volatility directly impacts production costs, making it challenging for companies to maintain stable profit margins. Additionally, global supply chain disruptions, as witnessed during recent events like the COVID-19 pandemic, can hinder the timely procurement of raw materials and distribution of finished products. Transportation costs, logistical bottlenecks, and shortages of essential inputs can further disrupt production schedules. As cement is a low-margin, high-volume product, these fluctuations and delays in the supply chain create substantial financial strain for producers, impacting both their operational efficiency and ability to meet market demand consistently.

Market Segmentation Analysis

By Type

Portland cement is the most widely used type in the global cement market due to its versatility, durability, and strength, making it ideal for general construction, including buildings, bridges, and pavements. It holds a significant market share, especially in developing regions experiencing rapid infrastructure growth. Blended cement, combining Portland cement with supplementary materials like fly ash, slag, and silica fume, is gaining traction for its sustainable properties and lower carbon footprint. It is increasingly favored in regions with stringent environmental regulations, offering enhanced workability and durability for long-lasting infrastructure projects. Specialty cements, including white, masonry, and rapid-setting cement, cater to niche applications like decorative work, restorations, and specific architectural needs. Though a smaller market segment, specialty cements are steadily growing due to demand from unique construction projects and high-end architectural designs.

By Application

The global cement market is driven by both residential and non-residential applications, with the residential segment leading due to the growth in housing demand, particularly in rapidly urbanizing regions like Asia-Pacific and Africa. Government initiatives supporting affordable housing and rural development further boost residential cement consumption, prompting manufacturers to cater to diverse housing needs, from low-cost housing to luxury projects. In the non-residential segment, cement demand remains strong due to its essential role in infrastructure projects like roads, bridges, airports, and power plants. Public and private sector investments, particularly in emerging economies, are also fueling growth in non-residential construction, alongside the expansion of commercial and industrial facilities, which continues to strengthen the market.

Segments

Based on Type

Portland Cement
Blended Cement
Others

Based on Application

Residential
Non-Residential

Based on Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa

Regional Analysis

Asia-Pacific (60%)

Asia-Pacific holds the largest share of the global cement market, accounting for approximately 60% of total demand. This dominance is driven by rapid urbanization, strong economic growth, and robust infrastructure development in countries like China and India. China, the largest producer and consumer of cement, accounts for a substantial portion of regional demand, supported by extensive construction activities across residential, commercial, and infrastructural sectors. India, too, is experiencing a construction boom fueled by government-led housing initiatives, urbanization, and industrial expansion. Additionally, countries in Southeast Asia, including Vietnam, Indonesia, and the Philippines, are investing heavily in infrastructure projects, further boosting regional demand. The high population density, ongoing urban migration, and the push for improved infrastructure collectively support sustained growth in cement consumption within Asia-Pacific.

North America (15%)

North America, holding around 15% of the global cement market share, experiences steady demand primarily driven by infrastructure modernization and the growth of the non-residential construction sector. In the United States, aging infrastructure requires significant refurbishment and maintenance, which is propelling demand for cement, especially for roads, bridges, and public buildings. Additionally, sustainability trends are gaining momentum in North America, where the adoption of green and blended cements is increasing in response to strict environmental regulations. Canada also contributes to regional demand, with a focus on sustainable construction practices and investments in public infrastructure. While growth in North America is relatively stable compared to emerging markets, it remains significant due to the focus on infrastructure upgrades and environmental sustainability.

Key players

CEMEX S.A.B. de C.V.
Heidelberg Cement
InterCement Participações S.A.
Holcim Ltd.
CRH plc
Titan Cement Company S.A.
UltraTech Cement Limited
Votorantim Cimentos
Buzzi Unicem S.p.A.
Mitsubishi Materials Corporation
Argos USA LLC
China National Building Material Co., Ltd.
Taiheiyo Cement Corporation
Drake Cement LLC

Competitive Analysis

The global cement market is highly competitive, dominated by established players with extensive geographic reach and strong production capabilities. Key players such as CEMEX, Heidelberg Cement, and Holcim Ltd. leverage their scale, diverse product portfolios, and innovation in sustainable products to maintain market leadership. Companies are increasingly focusing on eco-friendly solutions, incorporating low-carbon and green cement to meet environmental standards. UltraTech Cement, CRH plc, and Votorantim Cimentos have also expanded their operations through strategic mergers and acquisitions, boosting their market presence in emerging regions. China National Building Material Co. Ltd. and Taiheiyo Cement Corporation benefit from strong regional dominance in Asia, which drives demand in fast-growing markets. This competitive landscape is characterized by a blend of large multinational corporations and regional players, each seeking to differentiate through innovation, product diversity, and sustainability initiatives.

Recent Developments

In July 2024, Heidelberg Materials announced the acquisition of Highway Materials, Inc., along with two other companies in Texas, expanding its footprint in the U.S. aggregates and asphalt markets.
As of June 2024, InterCement received non-binding acquisition offers for its assets in Brazil and Argentina from several companies, including CSN and Huaxin Cement.
In the first quarter of 2024, CRH completed eight acquisitions totaling $2.2 billion, including a significant acquisition of cement and concrete assets in Texas from Martin Marietta Materials.
On April 20, 2024, UltraTech Cement announced the acquisition of a grinding unit from India Cements in Maharashtra for ₹315 crore to strengthen its presence in the Maharashtra market.

In early 2024, Votorantim Cimentos announced a R$200 million investment to expand its Pecém plant in Ceará, Brazil, increasing its cement grinding capacity significantly.
In October 2024, CNBM signed a five-year Cooperation Framework Agreement with Aramco to explore opportunities in advanced materials and industrial development.
In October 2024, Taiheiyo Cement Philippines launched a new US$220 million production line at its San Fernando plant in Cebu to support national cement production.

Market Concentration and Characteristics

The global cement market is moderately concentrated, with several large multinational corporations dominating a significant share alongside numerous regional and local players. Key characteristics of this market include high capital requirements, significant barriers to entry, and economies of scale that favor established players. Leading companies such as CEMEX, Heidelberg Cement, and Holcim Ltd. have substantial production capacities, extensive distribution networks, and robust financial resources, allowing them to maintain competitive advantage and influence market pricing. Additionally, the industry is capital-intensive and energy-intensive, with strict environmental regulations that drive innovation in sustainable products, such as green and low-carbon cement. As the industry responds to increasing sustainability demands and regional infrastructure needs, market consolidation through mergers and acquisitions continues to be a common trend among top players, enhancing both geographic reach and product diversity.

Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!

Customize Now

Report Coverage

The research report offers an in-depth analysis based on Type, Application and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

Emerging economies, particularly in Asia-Pacific and Africa, will continue to drive market growth due to rapid urbanization, population growth, and industrial expansion.
Environmental concerns will accelerate the adoption of sustainable cement alternatives, including green and low-carbon options, as companies aim to reduce their carbon footprints.
Digital transformation in cement production, including automation and AI-driven process optimization, will enhance productivity and reduce operational costs across the industry.
Ongoing and new infrastructure projects, especially in developing regions, will bolster cement demand, particularly for large-scale constructions like roads, bridges, and airports.
Government initiatives focused on affordable housing in emerging markets will support stable demand for cement in the residential construction sector.
Manufacturers will continue to adopt waste recycling practices and alternative raw materials to improve sustainability and comply with environmental regulations.
Leading players are likely to engage in mergers and acquisitions to expand their market reach, strengthen supply chains, and enhance production capacities.
Blended cement, known for its sustainability benefits and durability, will witness increased demand, particularly in regions with strict environmental standards.
The Asia-Pacific region will remain the largest and fastest-growing market, driven by rapid construction activity in countries like China, India, and Indonesia.
Cement companies will increasingly invest in digital supply chain solutions, enabling them to improve logistics, reduce costs, and enhance customer satisfaction by ensuring timely delivery.

CHAPTER NO. 1 : INTRODUCTION 28
1.1.1. Report Description 28
Purpose of the Report 28
USP & Key Offerings 28
1.1.2. Key Benefits for Stakeholders 28
1.1.3. Target Audience 29
1.1.4. Report Scope 29
1.1.5. Regional Scope 30
CHAPTER NO. 2 : EXECUTIVE SUMMARY 30
2.1. Cement Market Snapshot 30
2.1.1. Global Cement Market, 2018 – 2032 (Kilo Tons) (USD Million) 32
2.2. Insights from Primary Respondents 32
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 33
3.1. Russia-Ukraine and Israel-Palestine War Impacts 33
CHAPTER NO. 4 : CEMENT MARKET – INDUSTRY ANALYSIS 34
4.1. Introduction 34
4.2. Market Drivers 35
4.2.1. Driving Factor 1 Analysis 35
4.2.2. Driving Factor 2 Analysis 36
4.3. Market Restraints 37
4.3.1. Restraining Factor Analysis 37
4.4. Market Opportunities 38
4.4.1. Market Opportunity Analysis 38
4.5. Porter’s Five Forces Analysis 39
CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 40
5.1. Company Market Share Analysis – 2023 40
5.1.1. Global Cement Market: Company Market Share, by Volume, 2023 40
5.1.2. Global Cement Market: Company Market Share, by Revenue, 2023 41
5.1.3. Global Cement Market: Top 6 Company Market Share, by Revenue, 2023 41
5.1.4. Global Cement Market: Top 3 Company Market Share, by Revenue, 2023 42
5.2. Global Cement Market Company Volume Market Share, 2023 43
5.3. Global Cement Market Company Revenue Market Share, 2023 44
5.4. Company Assessment Metrics, 2023 45
5.4.1. Stars 45
5.4.2. Emerging Leaders 45
5.4.3. Pervasive Players 45
5.4.4. Participants 45
5.5. Start-ups /SMEs Assessment Metrics, 2023 45
5.5.1. Progressive Companies 45
5.5.2. Responsive Companies 45
5.5.3. Dynamic Companies 45
5.5.4. Starting Blocks 45
5.6. Strategic Developments 46
5.6.1. Acquisitions & Mergers 46
New Product Launch 46
Regional Expansion 46
5.7. Key Players Product Matrix 47
CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 48
6.1. PESTEL 48
6.1.1. Political Factors 48
6.1.2. Economic Factors 48
6.1.3. Social Factors 48
6.1.4. Technological Factors 48
6.1.5. Environmental Factors 48
6.1.6. Legal Factors 48
6.2. Adjacent Market Analysis 48
CHAPTER NO. 7 : CEMENT MARKET – BY TYPE SEGMENT ANALYSIS 49
7.1. Cement Market Overview, by Type Segment 49
7.1.1. Cement Market Volume Share, By Type, 2023 & 2032 50
7.1.2. Cement Market Revenue Share, By Type, 2023 & 2032 50
7.1.3. Cement Market Attractiveness Analysis, By Type 51
7.1.4. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 51
7.1.5. Cement Market Revenue, By Type, 2018, 2023, 2027 & 2032 52
7.2. Portland 53
7.2.1. Global Portland Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 54
7.2.2. Global Portland Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 54
7.3. Blended 55
7.3.1. Global Blended Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 56
7.3.2. Global Blended Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 56
7.4. Others 57
7.5. Global Others Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 58
7.6. Global Others Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 58
CHAPTER NO. 8 : CEMENT MARKET – BY APPLICATION SEGMENT ANALYSIS 59
8.1. Cement Market Overview, by Application Segment 59
8.1.1. Cement Market Volume Share, By Application, 2023 & 2032 60
8.1.2. Cement Market Revenue Share, By Application, 2023 & 2032 60
8.1.3. Cement Market Attractiveness Analysis, By Application 61
8.1.4. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 61
8.1.5. Cement Market Revenue, By Application, 2018, 2023, 2027 & 2032 62
8.2. Residential 63
8.2.1. Global Residential Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 64
8.2.2. Global Residential Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 64
8.3. Non-Residential 64
8.3.1. Global Non-Residential Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 66
8.3.2. Global Non-Residential Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 66
CHAPTER NO. 9 : CEMENT MARKET – REGIONAL ANALYSIS 67
9.1. Cement Market Overview, by Regional Segments 67
9.2. Region 68
9.2.1. Global Cement Market Volume Share, By Region, 2023 & 2032 68
9.2.2. Global Cement Market Revenue Share, By Region, 2023 & 2032 68
9.2.3. Cement Market Attractiveness Analysis, By Region 69
9.2.4. Incremental Revenue Growth Opportunity, by Region, 2024 – 2032 69
9.2.5. Cement Market Revenue, By Region, 2018, 2023, 2027 & 2032 70
9.2.6. Global Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 71
9.2.7. Global Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 71
9.3. Type 72
9.3.1. Global Cement Market Volume & Revenue, By Type, 2018 – 2023 (Kilo Tons) (USD Million) 72
9.4. Global Cement Market Volume & Revenue, By Type, 2024 – 2032 (Kilo Tons) (USD Million) 72
9.5. Application 73
9.5.1. Global Cement Market Volume & Revenue, By Application, 2018 – 2023 (Kilo Tons) (USD Million) 73
9.5.2. Global Cement Market Volume & Revenue, By Application, 2024 – 2032 (Kilo Tons) (USD Million) 73
CHAPTER NO. 10 : CEMENT MARKET – NORTH AMERICA 74
10.1. North America 74
10.1.1. Key Highlights 74
10.1.2. North America Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 75
10.1.3. North America Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 76
10.1.4. North America Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 77
10.1.5. North America Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 78
10.1.6. North America Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 79
10.1.7. North America Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 80
10.2. U.S. 81
10.3. Canada 81
10.4. Mexico 81
CHAPTER NO. 11 : CEMENT MARKET – EUROPE 82
11.1. Europe 82
11.1.1. Key Highlights 82
11.1.2. Europe Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 83
11.1.3. Europe Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 84
11.1.4. Europe Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 85
11.1.5. Europe Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 86
11.1.6. Europe Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 87
11.1.7. Europe Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 88
11.2. UK 89
11.3. France 89
11.4. Germany 89
11.5. Italy 89
11.6. Spain 89
11.7. Russia 89
11.8. Belgium 89
11.9. Netherland 89
11.10. Austria 89
11.11. Sweden 89
11.12. Poland 89
11.13. Denmark 89
11.14. Switzerland 89
11.15. Rest of Europe 89
CHAPTER NO. 12 : CEMENT MARKET – ASIA PACIFIC 90
12.1. Asia Pacific 90
12.1.1. Key Highlights 90
12.1.2. Asia Pacific Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 91
12.1.3. Asia Pacific Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 92
12.1.4. Asia Pacific Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 93
12.1.5. Asia Pacific Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 94
12.1.6. Asia Pacific Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 95
12.1.7. Asia Pacific Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 96
12.2. China 97
12.3. Japan 97
12.4. South Korea 97
12.5. India 97
12.6. Australia 97
12.7. Thailand 97
12.8. Indonesia 97
12.9. Vietnam 97
12.10. Malaysia 97
12.11. Philippines 97
12.12. Taiwan 97
12.13. Rest of Asia Pacific 97
CHAPTER NO. 13 : CEMENT MARKET – LATIN AMERICA 98
13.1. Latin America 98
13.1.1. Key Highlights 98
13.1.2. Latin America Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 99
13.1.3. Latin America Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 100
13.1.4. Latin America Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 101
13.1.5. Latin America Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 102
13.1.6. Latin America Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 103
13.1.7. Latin America Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 104
13.2. Brazil 105
13.3. Argentina 105
13.4. Peru 105
13.5. Chile 105
13.6. Colombia 105
13.7. Rest of Latin America 105
CHAPTER NO. 14 : CEMENT MARKET – MIDDLE EAST 106
14.1. Middle East 106
14.1.1. Key Highlights 106
14.1.2. Middle East Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 107
14.1.3. Middle East Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 108
14.1.4. Middle East Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 109
14.1.5. Middle East Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 110
14.1.6. Middle East Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 111
14.1.7. Middle East Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 112
14.2. UAE 113
14.3. KSA 113
14.4. Israel 113
14.5. Turkey 113
14.6. Iran 113
14.7. Rest of Middle East 113
CHAPTER NO. 15 : CEMENT MARKET – AFRICA 114
15.1. Africa 114
15.1.1. Key Highlights 114
15.1.2. Africa Cement Market Volume, By Country, 2018 – 2032 (Kilo Tons) 115
15.1.3. Africa Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 116
15.1.4. Africa Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 117
15.1.5. Africa Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 118
15.1.6. Africa Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 119
15.1.7. Africa Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 120
15.2. Egypt 121
15.3. Nigeria 121
15.4. Algeria 121
15.5. Morocco 121
15.6. Rest of Africa 121
CHAPTER NO. 16 : COMPANY PROFILES 122
16.1. CEMEX S.A.B. de C.V. 122
16.1.1. Company Overview 122
16.1.2. Product Portfolio 122
16.1.3. Swot Analysis 122
16.1.4. Business Strategy 122
16.1.5. Financial Overview 123
16.2. Heidelberg Cement 124
16.3. Inter Cement Participações S.A. 124
16.4. Holcim Ltd. 124
16.5. CRH plc 124
16.6. Titan Cement Company S.A. 124
16.7. UltraTech Cement Limited 124
16.8. Votorantim Cimentos 124
16.9. Buzzi Uni cem S.p.A. 124
16.10. Mitsubishi Material Corporation 124
16.11. Argos USA LLC 124
16.12. China National Building Material Co., Ltd. 124
16.13. Taiheiyo Cement Corporation 124
16.14. Drake Cement LLC 124

List of Figures
FIG NO. 1. Global Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 31
FIG NO. 2. Porter’s Five Forces Analysis for Global Cement Market 38
FIG NO. 3. Company Share Analysis, 2023 39
FIG NO. 4. Company Share Analysis, 2023 40
FIG NO. 5. Company Share Analysis, 2023 40
FIG NO. 6. Company Share Analysis, 2023 41
FIG NO. 7. Cement Market – Company Volume Market Share, 2023 42
FIG NO. 8. Cement Market – Company Revenue Market Share, 2023 43
FIG NO. 9. Cement Market Volume Share, By Type, 2023 & 2032 49
FIG NO. 10. Cement Market Revenue Share, By Type, 2023 & 2032 49
FIG NO. 11. Market Attractiveness Analysis, By Type 50
FIG NO. 12. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 50
FIG NO. 13. Cement Market Revenue, By Type, 2018, 2023, 2027 & 2032 51
FIG NO. 14. Global Cement Market for Portland, Volume & Revenue (Kilo Tons) (USD Million) 2018 – 2032 52
FIG NO. 15. Global Cement Market for Blended, Volume & Revenue (Kilo Tons) (USD Million) 2018 – 2032 54
FIG NO. 16. Global Cement Market for Others, Volume & Revenue (Kilo Tons) (USD Million) 2018 – 2032 56
FIG NO. 17. Cement Market Volume Share, By Application, 2023 & 2032 59
FIG NO. 18. Cement Market Revenue Share, By Application, 2023 & 2032 59
FIG NO. 19. Market Attractiveness Analysis, By Application 60
FIG NO. 20. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 60
FIG NO. 21. Cement Market Revenue, By Application, 2018, 2023, 2027 & 2032 61
FIG NO. 22. Global Cement Market for Residential, Volume & Revenue (Kilo Tons) (USD Million) 2018 – 2032 62
FIG NO. 23. Global Cement Market for Non-Residential, Volume & Revenue (Kilo Tons) (USD Million) 2018 – 2032 64
FIG NO. 24. Global Cement Market Volume Share, By Region, 2023 & 2032 67
FIG NO. 25. Global Cement Market Revenue Share, By Region, 2023 & 2032 67
FIG NO. 26. Market Attractiveness Analysis, By Region 68
FIG NO. 27. Incremental Revenue Growth Opportunity by Region, 2024 – 2032 68
FIG NO. 28. Cement Market Revenue, By Region, 2018, 2023, 2027 & 2032 69
FIG NO. 29. North America Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 73
FIG NO. 30. Europe Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 81
FIG NO. 31. Asia Pacific Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 89
FIG NO. 32. Latin America Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 97
FIG NO. 33. Middle East Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 105
FIG NO. 34. Africa Cement Market Volume & Revenue, 2018 – 2032 (Kilo Tons) (USD Million) 113

List of Tables
TABLE NO. 1. : Global Cement Market: Snapshot 25
TABLE NO. 2. : Drivers for the Cement Market: Impact Analysis 29
TABLE NO. 3. : Restraints for the Cement Market: Impact Analysis 31
TABLE NO. 4. : Global Portland Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 48
TABLE NO. 5. : Global Portland Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 48
TABLE NO. 6. : Global Blended Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 50
TABLE NO. 7. : Global Blended Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 50
TABLE NO. 8. : Global Others Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 52
TABLE NO. 9. : Global Others Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 52
TABLE NO. 10. : Global Residential Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 58
TABLE NO. 11. : Global Residential Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 58
TABLE NO. 12. : Global Non-Residential Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 60
TABLE NO. 13. : Global Non-Residential Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 60
TABLE NO. 14. : Global Cement Market Volume & Revenue, By Region, 2018 – 2023 (Kilo Tons) (USD Million) 65
TABLE NO. 15. : Global Cement Market Volume & Revenue, By Region, 2024 – 2032 (Kilo Tons) (USD Million) 65
TABLE NO. 16. : Global Cement Market Volume & Revenue, By Type, 2018 – 2023 (Kilo Tons) (USD Million) 66
TABLE NO. 17. : Global Cement Market Volume & Revenue, By Type, 2024 – 2032 (Kilo Tons) (USD Million) 66
TABLE NO. 18. : Global Cement Market Volume & Revenue, By Application, 2018 – 2023 (Kilo Tons) (USD Million) 67
TABLE NO. 19. : Global Cement Market Volume & Revenue, By Application, 2024 – 2032 (Kilo Tons) (USD Million) 67
TABLE NO. 20. : North America Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 69
TABLE NO. 21. : North America Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 69
TABLE NO. 22. : North America Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 70
TABLE NO. 23. : North America Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 70
TABLE NO. 24. : North America Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 71
TABLE NO. 25. : North America Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 71
TABLE NO. 26. : North America Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 72
TABLE NO. 27. : North America Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 72
TABLE NO. 28. : North America Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 73
TABLE NO. 29. : North America Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 73
TABLE NO. 30. : North America Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 74
TABLE NO. 31. : North America Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 74
TABLE NO. 32. : Europe Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 77
TABLE NO. 33. : Europe Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 77
TABLE NO. 34. : Europe Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 78
TABLE NO. 35. : Europe Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 78
TABLE NO. 36. : Europe Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 79
TABLE NO. 37. : Europe Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 79
TABLE NO. 38. : Europe Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 80
TABLE NO. 39. : Europe Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 80
TABLE NO. 40. : Europe Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 81
TABLE NO. 41. : Europe Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 81
TABLE NO. 42. : Europe Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 82
TABLE NO. 43. : Europe Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 82
TABLE NO. 44. : Asia Pacific Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 85
TABLE NO. 45. : Asia Pacific Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 85
TABLE NO. 46. : Asia Pacific Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 86
TABLE NO. 47. : Asia Pacific Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 86
TABLE NO. 48. : Asia Pacific Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 87
TABLE NO. 49. : Asia Pacific Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 87
TABLE NO. 50. : Asia Pacific Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 88
TABLE NO. 51. : Asia Pacific Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 88
TABLE NO. 52. : Asia Pacific Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 89
TABLE NO. 53. : Asia Pacific Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 89
TABLE NO. 54. : Asia Pacific Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 90
TABLE NO. 55. : Asia Pacific Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 90
TABLE NO. 56. : Latin America Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 93
TABLE NO. 57. : Latin America Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 93
TABLE NO. 58. : Latin America Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 94
TABLE NO. 59. : Latin America Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 94
TABLE NO. 60. : Latin America Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 95
TABLE NO. 61. : Latin America Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 95
TABLE NO. 62. : Latin America Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 96
TABLE NO. 63. : Latin America Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 96
TABLE NO. 64. : Latin America Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 97
TABLE NO. 65. : Latin America Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 97
TABLE NO. 66. : Latin America Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 98
TABLE NO. 67. : Latin America Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 98
TABLE NO. 68. : Middle East Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 101
TABLE NO. 69. : Middle East Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 101
TABLE NO. 70. : Middle East Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 102
TABLE NO. 71. : Middle East Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 102
TABLE NO. 72. : Middle East Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 103
TABLE NO. 73. : Middle East Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 103
TABLE NO. 74. : Middle East Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 104
TABLE NO. 75. : Middle East Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 104
TABLE NO. 76. : Middle East Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 105
TABLE NO. 77. : Middle East Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 105
TABLE NO. 78. : Middle East Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 106
TABLE NO. 79. : Middle East Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 106
TABLE NO. 80. : Africa Cement Market Volume, By Country, 2018 – 2023 (Kilo Tons) 109
TABLE NO. 81. : Africa Cement Market Volume, By Country, 2024 – 2032 (Kilo Tons) 109
TABLE NO. 82. : Africa Cement Market Revenue, By Country, 2018 – 2023 (USD Million) 110
TABLE NO. 83. : Africa Cement Market Revenue, By Country, 2024 – 2032 (USD Million) 110
TABLE NO. 84. : Africa Cement Market Volume, By Type, 2018 – 2023 (Kilo Tons) 111
TABLE NO. 85. : Africa Cement Market Volume, By Type, 2024 – 2032 (Kilo Tons) 111
TABLE NO. 86. : Africa Cement Market Revenue, By Type, 2018 – 2023 (USD Million) 112
TABLE NO. 87. : Africa Cement Market Revenue, By Type, 2024 – 2032 (USD Million) 112
TABLE NO. 88. : Africa Cement Market Volume, By Application, 2018 – 2023 (Kilo Tons) 113
TABLE NO. 89. : Africa Cement Market Volume, By Application, 2024 – 2032 (Kilo Tons) 113
TABLE NO. 90. : Africa Cement Market Revenue, By Application, 2018 – 2023 (USD Million) 114
TABLE NO. 91. : Africa Cement Market Revenue, By Application, 2024 – 2032 (USD Million) 114

Frequently Asked Questions

What is the market size of the global cement market in 2023 and 2032, and what is the CAGR?

The global cement market is valued at USD 405,631.23 million in 2023 and is projected to reach USD 602,806.60 million by 2032, growing at a CAGR of 4.50% from 2024 to 2032.

What factors are driving growth in the global cement market?

Key drivers include expanding urbanization, infrastructure investments, and government initiatives for affordable housing, which fuel demand in residential and commercial sectors.

How are sustainability trends affecting the cement market?

Sustainability trends are driving demand for low-carbon and energy-efficient cement, with innovations like green cement and alternative materials aligning with global environmental goals.

Which regions dominate the global cement market?

The Asia-Pacific region leads the market due to rapid urbanization and industrial growth, particularly in China and India, while North America and Europe also experience steady demand.

Who are the key players in the global cement market?

Major players include LafargeHolcim, Anhui Conch Cement, HeidelbergCement AG, and China National Building Material Company, which focus on expanding production and sustainable practices.

Purchase Options

Single User

$4699

Multi User

$5699

Custom Report

$7699

Let us help you

MIKE, North America

+1 304 308 1216

KEITH PHILLIPS, Europe

+44 7809 866 263

EMAIL US

Request Sample

Report delivery within 24 to 48 hours

– Other Info –

–What people say?-

I am very impressed with the information in this report. The author clearly did their research when they came up with this product and it has already given me a lot of ideas.

Jana Schmidt
CEDAR CX Technologies

– Connect with us –