The cement and concrete market consists of sales of cement and concrete products and related services by entities (organizations, sole traders and partnerships) that manufacture cement and concrete products such as concrete pipes, bricks, and paving blocks. The cement and concrete products manufacturing industry includes establishments engaged in manufacturing Portland cement, natural cement, masonry cement, pozzolanic cement, ready-mix concrete, concrete blocks, bricks, and pipes and related products.
The global cement and concrete product market is expected to decline from $370.1 billion in 2019 to $328.6 billion in 2020 at a compound annual growth rate (CAGR) of -11.3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 12% from 2021 and reach $441.7 billion in 2023.