Global cement market was worth USD 422.15 billion in the year 2020 and is estimated to garner suitable traction during 2021-2026.

Industry Snapshot:

• Surging population in emerging economies like India and China is prompting the need for more residential spaces which is a major growth driver for market.
• Massive investments by government for enhancing existing infrastructure is likely to further escalate industry development during 2021-2026.
• Proliferation of construction sector, coupled with an uptick in renovation activities are driving the sales of cement.

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Segmental Overview:

Product Type	Ordinary Portland
	Blended
	Others
End-User	Residential
	Non-Residential
Regions	Americas
	Europe
	Asia Pacific
	Middle East and Africa

 

Window to the future:

• The residential end-user segment is poised to record substantial growth during the assessment period, owing to the rising demand for construction of residential spaces across the world.

Explainer:

Notably, the recent trend among manufacturers to use waste responsibly as an alternative fuel for heating cement kilns is lowering consumption of fossil fuels. Besides, soaring demand from consumers for green construction is enabling top players to undertake extensive efforts in R&D to introduce efficient and eco-friendly cement products.

The COVID-19 pandemic had a wide-ranging impact on the industry due to the irregularities in the supply chain caused by government restrictions. This led to an imbalance in the production & sales operations of building materials, which eventually resulted in plummeted construction activities around the world. Consequently, the business sphere faced significant financial losses as well as mass layoffs and pay cuts. However, with the outbreak situation now in control, the market is expected to pick up pace in the forthcoming years.

The influential players in global cement industry are Votorantim Cimentos, China National Building Material Co. Ltd., CRH plc, Anhui Conch Cement Co. Ltd., Taiwan Cement Corporation, Holcim Ltd., CEMEX S.A.B. de C.V., Heidelberg Cement, China Resource Cement Holdings Ltd., and UltraTech Cement Ltd. among others.

Concluding lines:

Market research is systematically collecting information about variables that affect market dynamics and analyzing it to better understand the changing consumer preferences. A report from MarketStudyReport titled ‘Global Cement Market (2021 Edition) - Analysis by Product Type (Ordinary Portland, Blended, Others), End User (Residential, Non-Residential), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ encapsulates factors governing market growth during the forecast period and prospects that can drive great revenues for the enterprises in this line of work.