Cement and Concrete Products Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Product, By Application, By Region & Competition, 2021-2031F

The Global Cement and Concrete Products Market is projected to expand significantly, rising from USD 415.73 Billion in 2025 to USD 649.15 Billion by 2031, reflecting a compound annual growth rate of 7.71%. Cement serves as a crucial binding agent that sets to adhere materials, whereas concrete forms a robust composite by mixing this binder with inert aggregates. This growth is largely driven by rapid urbanization and extensive infrastructure projects in developing nations, where the need for permanent housing and public works is escalating. To highlight this regional surge, the World Cement Association estimated that cement demand in the emerging markets of South Asia and Sub-Saharan Africa hit 0.69 billion tonnes in 2024, confirming these regions as central volume drivers as mature markets plateau.

However, the industry faces a major hurdle due to strict environmental regulations and the urgent need for decarbonization. Since cement production generates high carbon emissions, adhering to rigorous global standards demands significant capital investment in green technologies. These expenditures can burden operational budgets and restrict production flexibility, presenting a substantial challenge to the market's uninterrupted expansion.

Market Driver

Government-led infrastructure modernization acts as a primary engine for market growth, especially as nations emphasize economic resilience through improved physical connectivity. Public sector investment in highways, bridges, and mass transit provides a stable foundation for cement demand, effectively balancing the volatility often seen in the residential housing market. This trend is particularly evident in emerging economies, where fiscal policies focus on upgrading logistics and urban frameworks to sustain industrial development. For instance, reflecting this dedication to structural growth, the Press Information Bureau noted in February 2024 that the Government of India increased capital expenditure for infrastructure by 11.1% to ₹11,11,111 crore in the 'Interim Budget 2024-25', indicating prolonged demand for construction materials in the region.

Concurrently, the rising appetite for green cement and sustainable construction materials is reshaping production strategies and revenue models worldwide. As regulators impose tighter carbon limits and clients seek to cut Scope 3 emissions, manufacturers are swiftly commercializing low-carbon binders and mixtures. This shift promotes the use of advanced supplementary cementitious materials, steering the industry toward a circular economy while satisfying modern engineering standards. According to Cemex's '2023 Integrated Report' from February 2024, their lower-carbon Vertua products comprised 56% of total cement sales, proving strong market adoption. Despite these changes, total volume remains massive, with the U.S. Geological Survey estimating global cement production reached 4.1 billion tons in 2024 for the prior year.

Market Challenge

Stringent environmental mandates and the necessity for decarbonization currently act as the primary constraint on the global cement and concrete products market. The manufacturing process, especially clinker production, is intrinsically carbon-intensive, attracting increasing attention from regulators enforcing strict emission caps and carbon taxes. Meeting these standards requires heavy capital expenditure on emission control systems and low-carbon technologies, which drastically increases operational costs. This financial burden limits resources available for capacity expansion and market development, creating friction that decelerates the industry's overall momentum.

The concrete effect of these regulatory and efficiency pressures is visible in global production figures, where the push to lower carbon intensity has led to volume contractions. According to the World Cement Association, global clinker production was projected to be 2.8 billion tonnes in 2024, marking a decrease of 370 million tonnes from its 2020 peak. This decline highlights how the industry's transition toward compliance and lower-carbon formulations is directly restricting traditional output levels. As manufacturers manage these expensive mandates, the resulting operational rigidity and reduced output continue to hinder the market's seamless growth.

Market Trends

The adoption of Carbon Capture, Utilization, and Storage (CCUS) is arising as a distinct technological trend, separate from the use of low-carbon binders. While material substitution handles combustion emissions, producers are now installing industrial-scale capture units to deal with unavoidable process emissions from limestone breakdown that fuel switching alone cannot eliminate. This move signifies a major capital shift toward retrofitting infrastructure for permanent carbon sequestration, turning cement plants into hubs for carbon management. According to the Global Cement and Concrete Association's 'Cement and Concrete Industry Net Zero Progress Report 2025/26' released in December 2025, CCUS now represents 36% of the sector's planned CO2 reductions, emphasizing its vital role in long-term decarbonization strategies.

Simultaneously, the market is experiencing a significant expansion in precast and modular building solutions, fueled by the urgent demand for speed and efficiency in dense urban construction. Unlike conventional cast-in-place techniques, off-site manufacturing enables strict quality control and drastically shortens project schedules, effectively alleviating on-site labor shortages and logistical hurdles. Major cement producers are actively broadening their portfolios to capture value further down the construction chain through these specialized, industrialized solutions. As noted in Cemex's '2024 Integrated Report' from February 2025, the company's Urbanization Solutions division, which includes precast products, reported a 4% rise in EBITDA for the 2024 fiscal year, highlighting the increasing profitability and demand for these advanced construction methods.

Key Market Players

• Heidelberg Cement
• Lafarge Holcim
• CRH Plc
• The Siam Cement Group
• Titan Cement Company S.A.
• Aditya Birla Ultratech
• Mitsubishi Cement Corporation
• CNBM International Corporation
• Drake Cement LLC
• Taiheiyo Cement Corporation

Report Scope

In this report, the Global Cement and Concrete Products Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Cement and Concrete Products Market, By Type

• Cement
• Ready-Mix Concrete
• Concrete Pipe
• Brick & Block
• Other Concrete Products

Cement and Concrete Products Market, By Product

• Rapid Hardening Cement
• Low Heat Cement
• White Cement
• Hydrophobic Cement
• Other Products

Cement and Concrete Products Market, By Application

• Residential
• Non-Residential

Cement and Concrete Products Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Cement and Concrete Products Market.

Available Customizations:

Global Cement and Concrete Products Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).