Overview and Scope
Cement and concrete products refer to types of structures made of aggregate, or hard, chemically inert particle material such as sand and gravel, which is joined by cement and water to form products such as concrete pipes, bricks, and paving blocks to provide strength, durability, safety, and affordability to the construction of buildings and commercial offices.
Sizing and Forecast
The cement and concrete products market size has grown strongly in recent years. It will grow from $386.18 billion in 2023 to $410.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to construction boom, industrialization and economic development, population growth, infrastructure investments, regulatory standards.
The cement and concrete products market size is expected to see strong growth in the next few years. It will grow to $512.15 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to sustainable construction practices, smart cities initiatives, innovation in materials, infrastructure resilience, population density challenges. Major trends in the forecast period include digitalization in construction, technological advancements in construction, carbon capture and utilization, alternative binders and materials, advanced concrete technologies, digitalization and smart construction.
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Segmentation & Regional Insights
The cement and concrete products market covered in this report is segmented –
1) By Type: Cement, Ready-Mix Concrete, Concrete Pipe, Brick, and Block, Other Concrete Products
2) By Product: Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Other Products (Colored Cement, Portland Pozzolana Cement)
3) By Application: Residential, Non-Residential
The Asia-Pacific was the largest region in the cement and concrete products market in 2023. Western Europe was the second-largest region in the cement and concrete products market. The regions covered in the cement and concrete products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Governments globally launched initiatives to provide funds and subsidies to make housing affordable, especially for low-income families, which drove the demand for cement and concrete. These subsidies allowed customers to borrow money at low-interest rates to invest in new houses. The government of Australia, for example, provides a grant of $15,000 through the ‘First Home Owners Grant’ scheme for the purchase or construction of homes by first-time buyers. The Indian Government launched the ‘Housing for All by 2022’ mission which provides grants for slum rehabilitation and construction of new houses. Such government initiatives encouraged people to construct new houses and drive growth in the housing market increasing the demand for cement in the historic period.
Key Industry Players
Major companies operating in the cement and concrete products market report are CRH plc, Titan Cement Group International, China National Building Material Group Co.Ltd., LafargeHolcim Ltd., Anhui Conch Cement Company Limited, Siam Cement Public Company Limited, Cemex SAB de CV, Grasim Industries Limited, UltraTech Cement Limited, Taiheiyo Cement Corporation., Sinoma International Engineering Co. Ltd., Buzzi Unicem SpA, China Resources Cement Group Limited, Dangote Cement plc, Ambuja Cements Limited, Taiwan Cement Corporation, Heidelberg Cement AG, Dalmia Bharat Ltd., JK Cement Ltd., The India Cements Limited, Cementir Holding N.V., Orient Cement Ltd., Birla Corporation Limited, Ramco Group, Votorantim S.A., Eurocement Group, Nippon Cement Co. Ltd., Shuangma Cement Holding Group, Jidong Cement Company Limited, Binani Industries Ltd.
The cement and concrete products market report table of contents includes:
1. Executive Summary
- Cement And Concrete Products Market Characteristics
- Cement And Concrete Products Product/Service Analysis -Product/Service Examples
- Cement And Concrete Products Market Trends And Strategies
- Cement And Concrete Products Market – Macro Economic Scenario
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68. Global Cement And Concrete Products Market Competitive Benchmarking
- Global Cement And Concrete Products Market Competitive Dashboard
- Key Mergers And Acquisitions In The Cement And Concrete Products Market
- Cement And Concrete Products Market Future Outlook and Potential Analysis
- Appendix
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