[3/7/2019]: 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 mass-produced 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.
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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.
Globally,
Asia Pacific accounted for the substantial market share of Cement and is
estimated to lead the overall market in the years to come. The reason behind
the overall market growth could be rising demand for cement from emerging
countries like India and China, growing population, rising income levels,
government initiatives to help the private sector industries thrive in the
industry, and rapid urbanization promote residential construction.
The key players of Cement Market are
LafargeHolcim, Anhui Conch Cement, HeidelbergCement, CEMEX, CNBM International,
UltraTech Cement, EUROCEMENT, TAIHEIYO CEMENT, CIMPOR, China Tianrui Group
Cement, Buzzi Unicem, and Dalmia Bharat.
These players are concentrating on inorganic growth to sustain themselves
amidst fierce competition.
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