What Does the Historical and Current Cement And Concrete Products Market Size Trend Indicate?
The cement and concrete products market has seen considerable growth due to a variety of factors.
• The market size for cement and concrete products has seen substantial growth in recent years. An increase from $419.23 billion in 2024 to $448.12 billion in 2025 is anticipated, representing a compound annual growth rate (CAGR) of 6.9%.
The notable growth during the historic period is due to factors such as booming construction activities, increased industrialization, economic development, burgeoning population, investments in infrastructure, and regulatory standards.
What Is The Forecast For The Cement And Concrete Products Market By 2029?
The cement and concrete products market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of cement and concrete products is predicted to experience robust growth, with the value reaching $552 billion in 2029 due to a compound annual growth rate (CAGR) of 5.4%.
The projected growth within this period can be credited to practices of sustainable construction, numerous initiatives for smart cities, material innovation, the resilience of infrastructure, and challenges regarding population density. Significant trends that are expected to emerge during this forecast period incorporate digital integration in the field of construction, advancements in construction technology, adoption of carbon capture and use, alternative binders and material utilization, cutting edge concrete technologies, along with digitalization and smart construction.
What Are The Leading Drivers Of Growth In The Cement And Concrete Products Market?
Global governments have initiated strategies to allocate funds and subsidies to enable affordable housing, particularly for families with low income, which has increased the demand for cement and concrete. These subsidies have enabled consumers to acquire loans at reduced interest rates for investing in new homes. For example, the Center for American Progress, a US-based research and advocacy organization for public policy, published the CAP 20 articles in September 2024. It reveals that the U.S. Treasury Department invests approximately $13.5 billion annually in the LIHTC program. Moreover, HUD's Public Housing Capital Fund has distributed $3.2 billion in grants to PHAs, aimed to cater to public housing repairs and rehabilitation. As a result, these government efforts to offer funds and subsidiaries have effectively boosted the market for cement and concrete products.
How Is The Globa Cement And Concrete Products Market Divided Into Key Segments?
The cement and concrete products market covered in this report is segmented –
1) By Type: Cement, Ready-Mix Concrete, Concrete Pipe, Brick, And Block, Other Concrete Products
2) By Product: Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Other Products (Colored Cement, Portland Pozzolana Cement)
3) By Application: Residential, Non-Residential
Subsegments:
1) By Cement: Portland Cement, Blended Cement, White Cement, Specialty Cement
2) By Ready-Mix Concrete: Standard Ready-Mix Concrete, High-Strength Ready-Mix Concrete, Lightweight Ready-Mix Concrete, Self-Consolidating Concrete
3) By Concrete Pipe: Reinforced Concrete Pipe (RCP), Non-Reinforced Concrete Pipe, Precast Concrete Pipe
4) By Brick And Block: Clay Bricks, Concrete Blocks, AAC (Autoclaved Aerated Concrete) Blocks
5) By Other Concrete Products: Precast Concrete Products, Decorative Concrete Products, Concrete Pavers, Concrete Sleepers
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What Trends Are Reshaping The Cement And Concrete Products Market?
Cement production facilities are progressively adopting digital technologies like the internet of things (IoT) to enhance operational efficiency. This involves a network of physical devices connecting and communicating via the internet. IoT enables remote supervision and anticipatory maintenance of cement manufacturing units. Remote supervision allows for the management of large machinery in quarries, providing reports on vital metrics such as fuel usage per ton and operational hours. IoT technology can also predict possible mechanical malfunctions and maintenance requirements. In cement manufacturing units, predictive maintenance can enhance the availability of crucial cement machinery like grinding mills and kilns. Other uses of IoT in the cement sector include monitoring and assessing the resilience of concrete mixes, reporting on adherence to global standards, and connected logistics to upgrade quarry production. A manufacturer of ready-mix concrete production equipment, Zoom link, is currently experimenting with data-driven metrics to optimize the operations of machinery deployed in quarries.
Who Are the Key Players in the Cement And Concrete Products Market?
Major companies operating in the cement and concrete products market include:
• CRH plc
• Titan Cement Group International
• China National Building Material Group Co.Ltd.
• LafargeHolcim Ltd.
• Anhui Conch Cement Company Limited
• Siam Cement Public Company Limited
• Cemex SAB de CV
• Grasim Industries Limited
• UltraTech Cement Limited
• Taiheiyo Cement Corporation.
• Sinoma International Engineering Co. Ltd.
• Buzzi Unicem SpA
• China Resources Cement Group Limited
• Dangote Cement plc
• Ambuja Cements Limited
• Taiwan Cement Corporation
• Heidelberg Cement AG
• Dalmia Bharat Ltd.
• JK Cement Ltd.
• The India Cements Limited
• Cementir Holding N.V.
• Orient Cement Ltd.
• Birla Corporation Limited
• Ramco Group
• Votorantim S.A.
• Eurocement Group
• Nippon Cement Co. Ltd.
• Shuangma Cement Holding Group
• Jidong Cement Company Limited
• Binani Industries Ltd.
What are the Regional Insights into the Cement And Concrete Products Market?
Asia-Pacific was the largest region in the cement and concrete products market in 2024. Western Europe was the second-largest region in the cement and concrete products market. The regions covered in the cement and concrete products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
