The global cement market is expected to record a value of US$401.10 billion in 2025, progressing at a CAGR of 5.10 per cent for the period spanning 2021-2025, as per the ‘Global Cement Market (Production, Consumption, Imports & Exports): Insights & Forecast to 2022’ report by ResearchAndMarkets.com.
Factors such as surging demand from construction activities, increasing adoption of green cement, expanding urbanisation and rising disposable income are likely to drive the growth of the market. However, the growth of the market would be challenged by rising government regulations on carbon emissions from manufacturing plants, depleting fossil fuel reserves and higher power consumption.
A few notable trends include growing civil engineering sector, technological advancements in the production process of cement and surging demand for green cement and increasing infrastructure projects in developing regions.
The largest regional market is China, owing to the growing construction sector at a fast pace. Further China is likely to witness some fall in consumption volume due to economic conditions and high prices of cement. Moreover, Emerging Asia (including India and Indonesia) and Middle East & Africa (including Egypt and Algeria) are also likely to grow considerably in coming years.