The cement market size is anticipated to witness considerable growth on account of rising in construction activities worldwide. Fortune Business Insights™ in their report titled, “Cement Market Size, Share & Industry Analysis, By Type (Portland, Blended, and Others), By Application (Residential, and Non-Residential), and Regional Forecasts, 2019-2026” presents a comprehensive analysis on the same.
List of prominent companies that are operating in the Cement Market are:
- Aditya Birla Ultratech
- Titan Cement Company S.A.
- Votorantim Cimentos
- The Siam Cement Group
- Buzzi Unicem S.p.A.
- CRH plc
- Mitsubishi Cement Corporation
- Argos USA Corporation
- CNBM International Corporation
- Taiheiyo Cement Corporation
- Drake Cement LLC
- Other Key Players
According to the report by Fortune Business Insights™, the global cement market size is expected to be worth USD 463.0 billion by the end of 2026 from USD 312.5 billion in 2018. The forecast period is set from 2019 to 2026, and the market is anticipated to grow at a CAGR of 5.2%.
Browse Report Summary:
The report is based on qualitative and quantitative cement market analysis, predominantly focusing on growth trajectories such as factors boosting and challenging the market, prime industry developments, key market insights. It also describes in detail the market segmentation and list of players operating in the market with major strategies adopted by them. Besides this, the report highlights some of the key cement market trends prevalent today that will bode well for players and the entire market in the forecast period.
Increasing Infrastructural Activities to Help Propel Asia Pacific Market
From a geographical perspective, North America earned USD 12.3 billion Cement market size in 2018. Although the report on the cement market forecasts Asia Pacific to hold the highest cement market share in the future. In 2018, this region was leading the market with the growth of construction and infrastructural developmental activities especially in developing nations such as India, China. China is the dominant producer and consumer of cement globally. The rise in demand for cement in the emerging nations, coupled with the surging demand for cement from Southeast Asian nations are anticipated to help Asia Pacific continue dominance in the coming years as well.
On the other hand, Europe market will witness significant growth on account of rising in public infrastructure. Countries such as France, UK, Germany, and Russia are primarily contributing to the cement market growth of the region.
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Diversified Market Will Allow Vast Expansion of Market – Win-win Situation for Players
market manufacturers are trying to expand over the globe to strengthen their position in the market. The competitive landscape of the market is highly fragmented with the presence of both regional as well as international players. Vendors are adopting mergers and acquisitions and new product development strategies to attract high market revenue in the forecast period.
Some of the latest industry developments in the market include:
June 2017 – UltraTech Cement has completed its Rs 16,189 crore worth acquisition with five grinding units and six integrated cement plants of Jaiprakash Associates, holding a capacity of 21.2 million tonnes. As per this acquisition, all three companies, their creditors, and shareholders made an effective scheme of arrangement post which, the cement manufacturing capacity of UltraTech, raised to 93 million tonnes annually
January 2019 – An agreement was signed between TEKFEN Ventures, an industrial venture company, dealing in agriculture, manufacturing, construction, and real estate sectors, and CEMEX ventures. This collaboration aims at identifying and supporting innovation in building technology and materials for construction on a global basis.
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