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White Cement Market size was over USD 8.98 billion in 2023 and is poised to cross USD 15.72 billion by 2036, witnessing more than 4.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of white cement is evaluated at USD 9.3 billion. The growth of the market can be attributed to the increasing number of infrastructural activities across the world, and rising demand for aesthetics in the construction industry. Along with these, growing requirements for spaces from healthcare and educational sectors has led to the surge in construction of these buildings, which is expected to drive market growth in the upcoming years. Furthermore, technological advancements in mixtures and surface treatments of white cement creating new applications for white cement, is also projected to offer lucrative opportunities to the market in the near future. In addition, rapid population growth and changing lifestyles are predicted to lead the expansion of the market. According to the World Bank, the total population of the world in 2020 was 7.753 billion, up from 7.673 billion in the previous year. The world population has only witnessed a hike since 1960.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.4% |
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Base Year Market Size (2023) |
USD 8.98 billion |
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Forecast Year Market Size (2036) |
USD 15.72 billion |
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Regional Scope |
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The market is segmented by application into residential, commercial, infrastructure, industrial, and institutional, out of which, the infrastructure segment is anticipated to hold the largest share in the global white cement industry. This can be accounted to the growing usage of white cement for swimming pools and for covering facades and increasing investment in infrastructural development worldwide. Apart from these, white cement is popularly used with pigments for imparting attractive colors and shades to mortars and concrete. This is also assessed to boost the growth of the market segment in the coming years. Additionally, on the basis of type, the segment for white Portland cement is evaluated to grab the largest share over the forecast period owing to its ability to ensure clean, bright and consistent colors, including pastel colors.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Application |
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On the basis of geographical analysis, the global white cement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is expected to account for largest revenue share by 2036, ascribed to surge in construction and building expenditures, and growing demand for white cement in commercial projects in India and China. In the financial year 2017, around 9 percent of India’s total GDP share was spent in the construction sector, up from approximately 8.5 percent from the previous year. The increase in urban population is also projected to drive the region’s market growth in the future. Moreover, the market in Europe is anticipated to occupy a significant market share during the forecast period, which can be credited to the increase in renovation and remolding activities, and shift in construction trend from steel and glass to cement.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
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