Specialized cement is used in applications requiring particular properties to sustain corrosion, high temperature and pressure. It is used in oil wells, and for residential and commercial construction. They have included additives such as glass or ceramic beads to alter their properties.
Rapid urbanization, rapid infrastructural development and the growing usage of automobiles particularly in the developing countries of APAC continue to raise the demand and increase in penetration of specialized cement for end-users like residential, commercial, industrial and infrastructure.
The ever-growing consumption of cement in countries such as China, India, U.S., Brazil, Russia, and Saudi Arabia is estimated to boost the demand for specialized cement in the years to come.
Regardless of whether the country is emerging or developed, the construction industry plays a major economic role. It is estimated that the global construction industry accounts for more than $9 trillion a year, which makes up about 15% of the world’s economic output.
In the three major sectors of the construction industry (infrastructure, commercial, and residential) in a country, the residential construction sector typically is by far the largest, representing almost half of the total market.
The global specialized cement market generated a revenue of around $45 billion in 2018 and is projected to grow at a CAGR of 7.03% during the forecast period to reach $65.89 billion by 2025. On the other hand, the global consumption of specialized cement in terms of volume was 490.22 MMT in 2018, which is estimated to reach 729.94 MMT by 2025 growing at a CAGR of 7.25%.
In the Asia-Pacific region, China and India are the major consumers for the specialized cement market. The U.S. is a major market for specialized in North America, and is followed by Canada and Mexico. Germany, Italy, France and U.K are the key countries in the European region.
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