Market Research Report
Global Cement Market (2021 Edition) - Analysis by Product Type (Ordinary Portland, Blended, Others), End User (Residential, Non-Residential), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)
|Global Cement Market (2021 Edition) - Analysis by Product Type (Ordinary Portland, Blended, Others), End User (Residential, Non-Residential), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)|
Published: September 30, 2021
Content info: 200 Pages
Delivery time: 2-3 business days
The Global Cement Market was valued at USD 422.15 Billion in the year 2020. The constantly rising population in emerging countries like India and China has increased the need for residential spaces. Also, governments of countries across the globe are investing heavily to enhance the existing infrastructure, which is projected to further contribute to the market growth. The demand for cement is buoyed by construction industry growth in the USA, India, and China and building renovation works in the EU and other countries. Also, the responsible use of waste as an alternative fuel to heat cement kilns is lowering the industry's consumption of fossil fuels.
The outbreak of the COVID-19 has affected the global economy of various sectors. Cement market is one of those sectors where pandemic has impacted unevenly across different regions. It has disrupted the supply chain of the cement industry and has negatively influenced the consumption and production activities of building material industry. The lockdown restrictions have drastically reduced the demand for cement globally¸ as the construction activities slowed down. Moreover, the disruption in the demand and supply of cement has resulted in huge financial losses in the industry and also leading to job losses and pay cuts.
Manufacturers in the cement market are keen on producing environment friendly cement products. The soaring demand for green cement for eco-friendly environment can boost the market owing to the rise in infrastructure and renovation activities. Recently, LafargeHolcim, which acquired Firestone Building Products (FBP) introduced ECOPlanet, its global range of green cement that reduces [CO]2 emissions. Top players in in the cement market have ramped up their research and development efforts to cater to specialised needs of the end-use industries.