As per data on the Global Market Model, the global cement and concrete products market size was valued at $365.6 billion in 2021, having grown from $333.3 billion in 2020 at a compound annual growth rate (CAGR) of 9.7%, effectively reversing the 9.9% market decline from 2019 resulting from the COVID-19 slowdown. This growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact which had led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $482.9 billion in 2025 at a CAGR of 7.2%.
Asia Pacific was the largest region in the global cement and concrete products market, accounting for 36% of the market in 2021. North America was the second largest region, accounting for 23% of the global cement and concrete products market. Africa was the smallest region in the global cement and concrete products market. By individual country, in 2020 the USA had the largest share of the global market accounting for 19% with China in second place with 14%.