The Global Cement Market Size is projected to reach USD 463.0 billion by 2026. According to a report by Fortune Business Insights™, titled “Cement Market Size, Share & Industry Analysis, By Type (Portland, Blended, and Others), By Application (Residential, and Non-Residential), and Regional Forecast 2019-2026,” the market was worth USD 312.5 billion in 2018. Driven by the increasing product demand across the world, the market will exhibit a CAGR of 5.2% during the forecast period, 2019-2026.
Recent Advances in Manufacturing Techniques to Aid Growth
The uses of cement have dramatically risen in the past two decades. The need for improved road quality has drawn massive investments in the manufacturing of high-quality cement. The increasing investments have successfully yielded high-grade products. The development of inter-country highways, coupled with contributions from government and tourism departments have all contributed to the growing demand for cement across the world.
The increasing uses and subsequently rising demand for the product will bode well for the global Cement Market in the coming years. Advances in manufacturing techniques, coupled with the use of improved ingredients for manufacturing will open up a huge potential for the companies operating in the market. Moreover, the massive potential will attract several market entrants in the forthcoming years. The market has been analyzed for the forecasted period of 2019-2026.
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List of the companies that are profiled in the Cement Market report includes;
- CRH plc
- The Siam Cement Group
- Titan Cement Company S.A.
- Aditya Birla Ultratech
- Votorantim Cimentos
- Buzzi Unicem S.p.A.
- Mitsubishi Cement Corporation
- Argos USA Corporation
- CNBM International Corporation
- Taiheiyo Cement Corporation
- Drake Cement LLC
Forecast Values Have Been Evaluated Through Top-notch Research Methods
The competitive landscape of the global Cement Market has been discussed in detail. The report highlights the leading companies of recent years and discusses the latest strategies adopted by these companies. In addition to growth stimulators, the report discusses a few of the factors that have restrained market growth. Forecast values have been provided for the market for the period of 2019-2026. Additionally, the report identifies areas that have witnessed the highest demand and applications for the product in recent years. Besides this, a few of the leading products, major companies, and major industry developments of recent times have been highlighted in this report.
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Company Mergers Dominate the List of Industry Developments
The report encompasses several factors that have contributed to the growth of the market in recent years. With a bid to establishing a stronghold in the market, companies are looking to adopt newer strategies. Among all strategies, it has been observed that company collaborations and acquisitions are most successful strategy and have helped SMEs as well as large businesses. A few of the leading mergers and acquisitions have been highlighted in the report, a couple of which have been listed below.
January 2019: Hanson Holdings Australia completed the acquisition of Alex Fraser Group. Hanson is a subsidiary of Heidelberg Cement, a leading manufacturer of cement as well as other construction material. Through this acquisition, the company plans to improve its existing portfolio and subsequently establish a wide consumer base.
June 2017: UltraTech Cement completed the acquisition of cement plants of JP Associated Ltd. This will help increase the yearly manufacturing capacity of UltraTech to 93 million tonnes.
These company mergers will not only help them generate sufficient revenues, but they will bode well for the overall market in the coming years. These factors will certainly add to the global market value. Along with mergers and acquisitions, the report provides an analysis of a few of the other factors that have added to the growth of the market in recent years. Additionally, the report includes a few of the factors that have restricted market growth.
The Asia Pacific accounted for the Highest Market Share; Increasing Product Demand in Developing Nations to Aid Growth
The report analyses the ongoing market trends across fiver major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The performance of regional markets has been discussed in detail. The demand for the product is the highest in developing as well as developed countries such as India and Japan. The increasing construction and infrastructure development activities will create several growth opportunities. Besides Asia Pacific, North America will witness considerable growth in the coming years, driven by the high product demand across diverse industries. As of 2018, the market in North America was worth USD 12.3 billion and this value is likely to increase further in the coming years.
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