Cement And Concrete Products Global Market To Reach Value Of $481 Billion In 2025
10 Mar, 2021
The cement and concrete products market consist 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.
Global Cement And Concrete Products Market Size And Drivers:
The global cement and concrete products market is expected to grow from $333.26 billion in 2020 to $365.58 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to reach $481.23 billion in 2025 at a CAGR of 7%.
Governments globally launched initiatives to provide funds and subsidies to make housing affordable, especially for low-income families, which drove the demand for cement and concrete.
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Trends In The Global Cement And Concrete Products Market
Cement manufacturing plants are increasingly using digital technologies such as the internet of things (IoT) to improve plant efficiencies. IoT is a network of physical devices which communicate over the internet. IoT helps in remote monitoring and predictive maintenance of a cement plant. Remote monitoring is used to oversee operations of big vehicles in the quarries and to report on key metrics such as fuel consumption per ton and operating hours. IoT can also be used to predict potential malfunctions and maintenance needs. In cement plants, predictive maintenance can improve up-time on critical cement equipment such as grinding mills and kilns. Other applications of IoT in the cement industry include tracking and measuring the durability of concrete mixture, reporting on compliance to international standards, and connected logistics to improve quarry production.
Global Cement And Concrete Products Market Segments:
The global cement and concrete products market is further segmented based on type, product, application and geography.
By Type: Cement, Ready-Mix Concrete, Concrete Pipe, Brick, And Block, Other Concrete Products
By Product: Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Others (Colored Cement, Portland Pozzolana Cement)
By Application: Residential, Non-Residential
By Geography: The global cement and concrete products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global cement and concrete products market, accounting for 37% of the total market.
Read More On The Report For The Global Cement And Concrete Products Market At:https://www.thebusinessresearchcompany.com/report/cement-and-concrete-products-global-market-report
Cement And Concrete Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cement and concrete products market overviews, analyzes and forecasts market size and growth for the global cement and concrete products market, cement and concrete products market share, cement and concrete products market players, cement and concrete products market segments and geographies, cement and concrete products market’s leading competitors’ revenues, profiles and market shares. The cement and concrete products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.