Cement Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2022
“Growing use of energy efficient technologies, high demand for residential properties due to growing urbanization, improving economic condition of developing countries like China and India, and increasing household income are documented as the major factors of Cement Market that are estimated to enhance the growth in the years to come.�
The Global Cement Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Cement is termed as a fine mineral powder massproduced with utmost precision. It is a main component of concrete and high-quality construction material exclusively used in construction projects across the globe. It is made using a mixture of clay and limestone, later heated at temperature of around 1,450°C. Growing use of energy efficient technologies, high demand for residential properties due to growing urbanization, improving economic condition of developing countries like China and India, and increasing household income are documented as the major factors of Cement Market that are estimated to enhance the growth in the years to come. Cement Market is segmented based on product type, end user, and region. Aluminous cement, hydraulic cement, white Portland, Portland cement, cement clinkers, and the other product types could be explored in cement market in the forecast period. The Portland cement sector accounted for the substantial market share of Cement and is estimated to lead the overall market in the coming years. This may be because of high demand for Portland cement in construction sector. The market may be categorized based on end users like non-residential, infrastructure, residential, and others could be explored in Cement in the forecast period. Residential sector accounted for the substantial market share of Cement and is estimated to continue its dominance in the coming years. This could be because of growing population and growth in investment for new residential projects, growing multi-family housing projects, and urban migration mainly in developing economies like MEA and APAC.