Cement And Concrete Products Global Market Report 2023

Cement and concrete products refer to types of structures made of aggregate, or hard, chemically inert particle material such as sand and gravel, which is joined by cement and water to form products such as concrete pipes, bricks, and paving blocks to provide strength, durability, safety, and affordability to the construction of buildings and commercial offices.

The main types of cement and concrete products are cement, ready-mix concrete, concrete pipe, brick, and block, and other concrete products. Readymix concrete refers to the concrete that is manufactured in a batch plant and is used for construction projects. The different products include rapid hardening cement, low heat cement, white cement, hydrophobic cement, and other products (coloured cement, portland pozzolana cement) and are used in residential, and non-residential.

The global cement and concrete products market grew from $364.12 billion in 2022 to $394.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cement and concrete products market is expected to grow to $527.78 billion in 2027 at a CAGR of 7.6%.

The cement and concrete products market research report is one of a series of new reports that provides cement and concrete products market statistics, including cement and concrete products industry global market size, regional shares, competitors with a cement and concrete products market share, detailed cement and concrete products market segments, market trends and opportunities, and any further data you may need to thrive in the cement and concrete products industry. This cement and concrete products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

During the forecast period, the shortages of coal supply were a major restraint on the cement manufacturing industry. Cement manufacturing is an energy-intensive process and a major portion of this energy comes from burning coal, especially in developing countries. Coal supply reduced globally during the historic period due to logistics issues and a decline in investments in coal extraction, negatively affecting the cement manufacturing industry. This increased the costs of coal, and also the production costs for cement manufacturers, restricting the growth of the cement and concrete 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 that 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. Zoom link, a ready-mix concrete production equipment manufacturer, is actively testing data-based metrics to improve operations of vehicles used in quarries.

The Asia-Pacific was the largest region in the cement and concrete products market in 2022. Western Europe was the second-largest region in the cement and concrete products market. The regions covered in the cement and concrete products report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries in the cement and concrete products market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam.

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. These subsidies allowed customers to borrow money at low-interest rates to invest in new houses. The government of Australia, for example, provides a grant of $15,000 through the ‘First Home Owners Grant’ scheme for the purchase or construction of homes by first-time buyers. The Indian Government launched the “Housing for All by 2022” mission which provides grants for slum rehabilitation and construction of new houses. Such government initiatives encouraged people to construct new houses and drive growth in the housing market increasing the demand for cement in the historic period.

The cement and concrete products market consists of sales of bridge girders, structural components, and wall panels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the cement and concrete products market include China National Building Material Group Co.Ltd., LafargeHolcimLtd., HeidelbergCement AG, Anhui Conch Cement Company Limited, CRH plc, Votorantim S.A, Cemex SAB de CV, UltraTech Cement Limited, Grasim Industries Limited, and Taiheiyo Cement Corporation.



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