Cement Market Size

  • Report ID: 4597
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Cement Market Size

Cement Market size was valued at USD 434.21 billion in 2024 and is expected to cross USD 762.62 billion by the end of 2037, registering more than 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cement is estimated at USD 449.84 billion.

The growth of the market can be attributed to the surging demand for construction activities globally. The rising need for construction materials is a significant driver of the global cement industry. Construction is a key end-user of cement, and as the demand for new structures, facilities, and restorations in a country rise, so will cement consumption. For instance, by 2050, it is predicted that construction workers would add 3,500 new buildings to the daily pace. Furthermore, the introduction of cutting-edge technologies into the cement manufacturing process is also boosting the market expansion. A favorable market outlook is also being produced by the growing use of green cement in the construction of eco-friendly and sustainable buildings to reduce harmful emissions and enhance environmental health. Precast material makers are benefiting financially from the rising demand for products like blocks, roof panels, and tiles.

Cement is a critical commodity for growing economies. It is used for constructing mass construction which includes houses, civil workers, and industrial estates. Also, there has been huge investment made in the construction industry which is also estimated to influence the growth of the market over the forecast period. The Indian Parliament approved a bill in March 2021 to establish the National Bank for Financing Infrastructure and Development (NaBFID), an approximate USD 3 billion development finance organization, to finance infrastructure projects in India. Population growth and urbanization are also important drivers for the cement industry, as more people relocate to cities, increasing the need for infrastructure and housing construction. Economic growth is also important, as it may result in higher expenditure on construction activities.


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Author Credits:  Rajrani Baghel


  • Report ID: 4597
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of cement is estimated at USD 449.84 billion.

The cement market size was valued at USD 434.21 billion in 2024 and is expected to cross USD 762.62 billion by the end of 2037, registering more than 4.6% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by increasing urban population, rising number of residential projects, rising adoption of green cement, and others.

Asia Pacific is projected to hold the largest industry share by 2037, owing to growth of the construction industry in this region.

The major players in the market include Cemex, InterCement, Holcim, CRH plc, Titan Cement International SA, Ultratech Cement Ltd., Buzzi Unicem S.p.A, Mitsubishi Cement Corporation, China National Building Material Group Co., Ltd., Drake Cement LLC.
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