Cement Market Regional Analysis:
Asia Pacific Market Insights
By the end of 2035, Asia Pacific cement market is set to dominate around 57.1% revenue share. Large-scale urbanization, infrastructure development, and an increase in construction are some of the forces moving the region, particularly in countries such as India and China. The ongoing impetus for decarbonization of the cement industry further fosters progress toward sustainable production technology. Partnerships such as the 2024 Global Cement and Concrete Association collaboration with the China Cement Association emphasize the region’s commitment to greener practices.
India also plays a critical role in Asia Pacific market, witnessing significant expansion during the forecast period. According to India Brand Equity Foundation (IBEF), the country accounts for more than 8.0% of the global installed capacity, propelled by rapid urbanization and infrastructure development. India's focus on renewable energy and sustainable construction is in line with global efforts toward decarbonization of the industry, placing it as a leader in both production and innovation within the region.
China remains a major player in Asia Pacific cement market during the forecast period. However, domestic demand has fallen and is expected to fall below 2 billion tons over the next three years, according to an article in World Cement in 2023. This reflects the country's focus on transitioning toward a more sustainable and balanced construction sector. The cooperation between the China Cement Association and the Global Cement and Concrete Association marked a historic agreement in 2024 to accelerate decarbonization in industries further.
North America Market Insights
North America region in cement market is estimated to capture significant revenue share by the end of 2035. A huge amount of construction activities generally boosts demand for the consumption of cement. Government initiatives, majorly the Infrastructure Investment and Jobs Act, have continued supporting the demand for cement across various public infrastructure projects such as bridges, highways, and transport systems.
The U.S. leads North America cement market due to huge investments in public and private construction. Non-residential building spending surged 19.8% year-over-year in 2023, propped up by significant government spending to upgrade infrastructure. This, in turn, has contributed to federal drives for modernizing transport networks and energy-efficient structures that help keep cement demand going. A strong growth trend for sustainable construction, together with the introduction of new low-carbon cement products, is anticipated to propel the market in the U.S.
The cement market in Canada is lucrative, with strong infrastructural development and investments in housing projects within urban areas. Emphasis on transportation infrastructure and wider residential construction has created consistent demand within the cement market. Furthermore, significant investment in green building materials and sustainable city planning also plays to the country's goals on climate change. Also, the priority on infrastructure modernization turns the cement market in Canada into an essential contributor to further development within its construction industry.
