Cement And Concrete Products Global Market Report 2022

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.

The global cement and concrete products market is expected to grow from $326.6 billion in 2021 to $360.11 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $510.66 billion in 2026 at a CAGR of 9.1%.

The cement and concrete products market consists of sales of cement and concrete products and related services by entities (organizations, sole traders, and partnerships) that manufacture cement and concrete products such as concrete pipes, bricks, and paving blocks.

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 Asia Pacific was the largest region in the cement and concrete products market in 2021.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.

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.

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 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.