Cement Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Market Volume (2025) | 4.37 Billion Tons |
| Market Volume (2030) | 5.51 Billion Tons |
| Growth Rate (2025 - 2030) | 4.76% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Cement Market Analysis by Mordor Intelligence
The Cement Market size is estimated at 4.37 Billion Tons in 2025, and is expected to reach 5.51 Billion Tons by 2030, at a CAGR of 4.76% during the forecast period (2025-2030). Construction recovery, infrastructure upgrades, and accelerated shifts toward low-carbon binders form the core demand engine. Blended formulations gain acceptance as procurement teams embed environmental, social, and governance requirements, while data-center and logistics construction spur incremental volumes. Producers respond with kiln digitalization and fuel switching to stabilize costs in a volatile energy landscape. Regulatory tightening on CO₂ emissions accelerates clinker substitution, positioning supplementary cementitious materials as strategic inputs across every major cement market.
Key Report Takeaways
- By product type, blended cement led with 69.11% of cement market share in 2024; it is projected to expand at a 5.07% CAGR through 2030.
- By end-use sector, infrastructure accounted for 36.35% of the cement market size in 2024, while commercial construction is forecast to advance at a 5.79% CAGR to 2030.
- By geography, Asia-Pacific captured 75.08% revenue in 2024; the Middle East and Africa region is expected to grow at a 5.16% CAGR through 2030.
Global Cement Market Trends and Insights
Driver Impact Analysis
| Drivers | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Urbanization-linked infrastructure boom in emerging Asia and Africa | +1.2% | Asia-Pacific core, spill-over to MEA | Long term (≥ 4 years) |
| Government stimulus for low-carbon public infrastructure (post-COVID) | +0.8% | Global, with concentration in North America and EU | Medium term (2-4 years) |
| Rising demand for blended/green cement to meet corporate ESG targets | +0.9% | Global, led by Europe and North America | Long term (≥ 4 years) |
| Expansion of ready-mix concrete networks in Tier-2/3 cities | +0.6% | APAC core, emerging in Latin America | Medium term (2-4 years) |
| 3D concrete-printing creating niche demand for specialised binders | +0.3% | North America and EU, pilot projects in APAC | Short term (≤ 2 years) |
| Source: Mordor Intelligence | |||
Urbanization-Linked Infrastructure Boom in Emerging Asia and Africa
Mega-city projects, regional rail corridors, and mass-housing plans push sustained volumes into every major cement market across Asia-Pacific. China’s Belt and Road Initiative extends demand into partner nations, while India sustains annual infrastructure spending near 5% of GDP, underpinning domestic consumption[1]Kris Crismundo, “PH cement market seen to recover on infra push, housing demand,” Philippine News Agency, pna.gov.ph. Housing shortfalls, such as the Philippines’ projected 10 million-unit backlog by 2028, amplify residential requirements. African urban growth mirrors earlier Asian cycles, with Ghana’s price-regulation framework balancing affordability and supply. Each rural-to-urban migrant drives a three-to-four-fold increase in cement-intensive assets spanning transit, housing, utilities, and commercial space.
Government Stimulus for Low-Carbon Public Infrastructure (Post-COVID)
Post-pandemic recovery packages embed emissions ceilings into project specifications, favoring lower-carbon alternatives across developed cement markets. The U.S. Bipartisan Infrastructure Law earmarks USD 550 billion for new works, a program the Portland Cement Association links to a 46 million-ton five-year volume uplift. Federal support extends to process innovation, with the Department of Energy backing carbon-capture pilots at Cemex’s Knoxville plant. Multiplier effects above USD 3.5 per dollar invested trigger sustained contractor pipelines, ensuring steady pull-through of blended cement and alternative-fuel output.
Rising Demand for Blended/Green Cement to Meet Corporate ESG Targets
Procurement departments add carbon limits to bid documents, propelling blended cement to 69.11% share of 2024 shipments and driving the highest segment CAGR at 5.07%. Limestone cement now comprises 97% of blended volumes across the U.S., and similar trajectories appear in Europe as revised standards accept higher limestone ratios. Fly ash, slag, and calcined clay cut clinker intensity without sacrificing strength, giving early adopters clear competitive advantage. Verified product disclosures improve transparency, allowing contractors to translate carbon savings into project credentials.
Expansion of Ready-Mix Concrete Networks in Tier-2/3 Cities
Ready-mix penetration migrates beyond megacities, standardizing concrete quality in secondary urban zones. Indian suppliers, led by ACC Limited, expand batching capacity deeper into regional clusters, easing logistics and reducing on-site waste. Ready-mix orders often specify consistent-performance blended binders, advancing market alignment with sustainability rules. Bulk contracting also streamlines distributor economics, enhancing the commercial cement market’s growth profile as smaller builders tap professional supply chains.
Restraint Impact Analysis
| Restraints | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Stringent CO₂-emission caps and clinker-to-cement ratios | -0.7% | Europe and North America, expanding to Asia | Long term (≥ 4 years) |
| Volatile coal and pet-coke prices inflating production costs | -0.5% | Global, acute in coal-dependent regions | Short term (≤ 2 years) |
| Shrinking fly-ash supply as coal plants retire | -0.4% | North America and EU, emerging in Asia | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Stringent CO₂-Emission Caps and Clinker-to-Cement Ratios
Compliance programs such as the EU Emissions Trading System and California’s net-zero mandate obligate costly kiln upgrades. Fly-ash scarcity worsens as coal utilities retire, pressing producers to seek alternative supplementary materials. National Cement’s partnership with Carbon TerraVault to construct California’s first net-zero facility highlights the capital burden attached to regulatory alignment. Certification standards like ISO 14001 evolve into entry requirements, raising barriers for under-capitalized firms.
Volatile Coal and Pet-Coke Prices Inflating Production Costs
Thermal fuels still form 20-30% of manufacturing inputs, exposing producers to price swings that erode margins and complicate contract tendering. Fuel diversification helps, yet transition costs for alternative fuels remain high. Cemex’s biochar joint venture at Rüdersdorf underscores the necessary scale of investment before energy savings accrue, with a commercial start-up slated for 2026[2]Cemex, “Cemex enters joint venture to produce carbon neutral fuels at Rüdersdorf cement plant,” cemex.com . Geopolitical shocks compound volatility, encouraging conservative capacity additions.
Segment Analysis
By Product Type: Blended Cement Dominates Sustainability Transition
Blended cement captured 69.11% of 2024 shipments, underpinning the largest portion of the cement market size at the segment level. Limestone-based formulations drive the uptick, aligning commercial performance with reduced embodied carbon. Ordinary Portland Cement remains vital for early-strength highways and precast panels, yet its share declines as regulations push for lower clinker content. White cement fills decorative niches, particularly for façade panels, with Turkey acting as the primary exporter into North America. Fiber cement boards penetrate residential siding thanks to their durability and fire resistance benefits.
Investment patterns confirm the pivot. Holcim’s USD 278 million package across Swiss plants seeks to boost alternative-fuel usage from 57% to above 85%, illustrating the required spend to fortify environmental credentials. Heidelberg Materials is scaling the world’s largest calcined clay line in Ghana, providing a regional supply of low-carbon binder. These moves reinforce a structural realignment that supports the blended segment’s 5.07% forecast CAGR and consolidates leadership within the global cement market.
Note: Segment shares of all individual segments available upon report purchase
By End-Use Sector: Commercial Construction Leads Growth Acceleration
Infrastructure works held 36.35% of the 2024 cement market share as governments financed rail, road, and utility upgrades. Despite this volume anchor, commercial construction registers the fastest 5.79% CAGR through 2030, buoyed by data-center foundations, tier-2 city office towers, and omnichannel retail spaces. Residential demand softens under high mortgage costs in the United States, yet emerging markets offset weakness through national housing programs. Industrial and institutional orders rise on reshoring and healthcare expansion.
Data-center projects pull premium mixes built for heat load dissipation and fast setting, often specified in bulk via ready-mix contracts. 3D concrete printing, led by innovators such as ICON, introduces specialty binders that improve printability. Ready-mix network growth in regional clusters supports schedule certainty, allowing contractors to compress build times and secure cost savings, reinforcing commercial sector momentum within the broader cement market.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Asia-Pacific accounted for 75.08% of 2024 volume, confirming the region’s centrality to the cement market. China’s 2024 output fell 10% amid property corrections, yet state-owned majors offset domestic softness by exporting surplus to Southeast Asia and Africa. India remains the growth engine as favorable demographics and federal capital-expenditure commitments strengthen order books. Vietnam, Indonesia, and Thailand also report double-digit factory utilization rates, supported by electronics manufacturing inflows and urban transport projects.
The Middle East and Africa advance at a 5.16% CAGR through 2030, the fastest regional trajectory in the global cement market. Gulf diversification plans, typified by Saudi Arabia’s Vision 2030, generate large infrastructure consortia, albeit with periodic export quotas tightening local supply. African expansion varies by market; Ghana adopts price caps to protect consumers, while Kenya experiences cyclical volatility linked to public works funding streams. Heidelberg Materials leverages an integrated network to navigate logistic hurdles and capture underserved demand pockets.
North American and European consumption is mature yet steadied by asset-refurbishment agendas. In Europe, carbon pricing and kiln electrification projects dominate capex, with multinationals clustering research and development around process optimization. Holcim’s 2025 spin-off of Amrize, valued above USD 30 billion, signals a sharpened focus on North American profitability and efficient capital deployment
Competitive Landscape
The global cement industry is moderately fragmented. Regional structures create natural concentration pockets within the cement market. Chinese state conglomerates command their domestic arena, yet freight economics limit outward reach, encouraging joint ventures in Belt and Road corridors. European and North American players operate vertically integrated chains that blend cement, aggregates, and ready-mix to capture downstream margins and balance cyclical variations. Technology diffusion differentiates leadership. Holcim deploys artificial-intelligence kiln algorithms that lift thermal efficiency and cut unplanned downtime. Vertical integration aligns with rising ready-mix demand, reinforcing strategic lock-in and raising entry barriers for new entrants contemplating participation in the cement market.
Cement Industry Leaders
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Anhui Conch Cement Co., Ltd.
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CEMEX S.A.B. de C.V.
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CRH
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Heidelberg Materials
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HOLCIM
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- June 2025: Holcim finalized the spin-off of North American operations into Amrize, creating the region’s largest supplier with a valuation above USD 30 billion.
- April 2025: Concreat Holdings Philippines completed a 1.5 million-ton line at Solid Cement Plant, boosting capacity 26% to 7.2 million tons and supporting local infrastructure growth.
Global Cement Market Report Scope
Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Blended Cement, Fiber Cement, Ordinary Portland Cement, White Cement are covered as segments by Product. Asia-Pacific, Europe, Middle East and Africa, North America, South America are covered as segments by Region.| Blended Cement |
| Fiber Cement |
| Ordinary Portland Cement |
| White Cement |
| Other Types |
| Residential |
| Commercial |
| Infrastructural |
| Industrial and Institutional |
| Asia-Pacific | China |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Australia | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | France |
| Germany | |
| Italy | |
| Russia | |
| Spain | |
| United Kingdom | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle-East and Africa | Saudi Arabia |
| South Africa | |
| Rest of Middle-East and Africa |
| By Product Type | Blended Cement | |
| Fiber Cement | ||
| Ordinary Portland Cement | ||
| White Cement | ||
| Other Types | ||
| By End-Use Sector | Residential | |
| Commercial | ||
| Infrastructural | ||
| Industrial and Institutional | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Indonesia | ||
| Japan | ||
| Malaysia | ||
| South Korea | ||
| Thailand | ||
| Vietnam | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
| Europe | France | |
| Germany | ||
| Italy | ||
| Russia | ||
| Spain | ||
| United Kingdom | ||
| Rest of Europe | ||
| South America | Brazil | |
| Argentina | ||
| Rest of South America | ||
| Middle-East and Africa | Saudi Arabia | |
| South Africa | ||
| Rest of Middle-East and Africa | ||
Market Definition
- END-USE SECTOR - Cement consumed in the construction sectors such as commercial, residential, industrial, institutional, and infrastructure are considered under the scope of the study.
- PRODUCT/APPLICATION - Under the scope of the study, the consumption of various types of cement such as ordinary portland cement, blended cement, white cement, fiber cement, etc. are considered.
| Keyword | Definition |
|---|---|
| Accelerator | Accelerators are admixtures used to fasten the setting time of concrete by increasing the initial rate and speeding up the chemical reaction between cement and the mixing water. These are used to harden and increase the strength of concrete quickly. |
| Acrylic | This synthetic resin is a derivative of acrylic acid. It forms a smooth surface and is mainly used for various indoor applications. The material can also be used for outdoor applications with a special formulation. |
| Adhesives | Adhesives are bonding agents used to join materials by gluing. Adhesives can be used in construction for many applications, such as carpet laying, ceramic tiles, countertop lamination, etc. |
| Air Entraining Admixture | Air-entraining admixtures are used to improve the performance and durability of concrete. Once added, they create uniformly distributed small air bubbles to impart enhanced properties to the fresh and hardened concrete. |
| Alkyd | Alkyds are used in solvent-based paints such as construction and automotive paints, traffic paints, flooring resins, protective coatings for concrete, etc. Alkyd resins are formed by the reaction of an oil (fatty acid), a polyunsaturated alcohol (Polyol), and a polyunsaturated acid or anhydride. |
| Anchors and Grouts | Anchors and grouts are construction chemicals that stabilize and improve the strength and durability of foundations and structures like buildings, bridges, dams, etc. |
| Cementitious Fixing | Cementitious fixing is a process in which a cement-based grout is pumped under pressure to fill forms, voids, and cracks. It can be used in several settings, including bridges, marine applications, dams, and rock anchors. |
| Commercial Construction | Commercial construction comprises new construction of warehouses, malls, shops, offices, hotels, restaurants, cinemas, theatres, etc. |
| Concrete Admixtures | Concrete admixtures comprise water reducers, air entrainers, retarders, accelerators, superplasticizers, etc., added to concrete before or during mixing to modify its properties. |
| Concrete Protective Coatings | To provide specific protection, such as anti-carbonation or chemical resistance, a film-forming protective coat can be applied on the surface. Depending on the applications, different resins like epoxy, polyurethane, and acrylic can be used for concrete protective coatings. |
| Curing Compounds | Curing compounds are used to cure the surface of concrete structures, including columns, beams, slabs, and others. These curing compounds keep the moisture inside the concrete to give maximum strength and durability. |
| Epoxy | Epoxy is known for its strong adhesive qualities, making it a versatile product in many industries. It resists heat and chemical applications, making it an ideal product for anyone needing a stronghold under pressure. It is widely used in adhesives, electrical and electronics, paints, etc. |
| Fiber Wrapping Systems | Fiber Wrapping Systems are a part of construction repair and rehabilitation chemicals. It involves the strengthening of existing structures by wrapping structural members like beams and columns with glass or carbon fiber sheets. |
| Flooring Resins | Flooring resins are synthetic materials applied to floors to enhance their appearance, increase their resistance to wear and tear or provide protection from chemicals, moisture, and stains. Depending on the desired properties and the specific application, flooring resins are available in distinct types, such as epoxy, polyurethane, and acrylic. |
| High-Range Water Reducer (Super Plasticizer) | High-range water reducers are a type of concrete admixture that provides enhanced and improved properties when added to concrete. These are also called superplasticizers and are used to decrease the water-to-cement ratio in concrete. |
| Hot Melt Adhesives | Hot-melt adhesives are thermoplastic bonding materials applied as melts that achieve a solid state and resultant strength on cooling. They are commonly used for packaging, coatings, sanitary products, and tapes. |
| Industrial and Institutional Construction | Industrial and institutional construction includes new construction of hospitals, schools, manufacturing units, energy and power plants, etc. |
| Infrastructure Construction | Infrastructure construction includes new construction of railways, roads, seaways, airports, bridges, highways, etc. |
| Injection Grouting | The process of injecting grout into open joints, cracks, voids, or honeycombs in concrete or masonry structural members is known as injection grouting. It offers several benefits, such as strengthening a structure and preventing water infiltration. |
| Liquid-Applied Waterproofing Membranes | Liquid-Applied membrane is a monolithic, fully bonded, liquid-based coating suitable for many waterproofing applications. The coating cures to form a rubber-like elastomeric waterproof membrane and may be applied over many substrates, including asphalt, bitumen, and concrete. |
| Micro-concrete Mortars | Micro-concrete mortar is made up of cement, water-based resin, additives, mineral pigments, and polymers and can be applied on both horizontal and vertical surfaces. It can be used to refurbish residential complexes, commercial spaces, etc. |
| Modified Mortars | Modified Mortars include Portland cement and sand along with latex/polymer additives. The additives increase adhesion, strength, and shock resistance while also reducing water absorption. |
| Mold Release Agents | Mold release agents are sprayed or coated on the surface of molds to prevent a substrate from bonding to a molding surface. Several types of mold release agents, including silicone, lubricant, wax, fluorocarbons, and others, are used based on the type of substrates, including metals, steel, wood, rubber, plastic, and others. |
| Polyaspartic | Polyaspartic is a subset of polyurea. Polyaspartic floor coatings are typically two-part systems that consist of a resin and a catalyst to ease the curing process. It offers high durability and can withstand harsh environments. |
| Polyurethane | Polyurethane is a plastic material that exists in various forms. It can be tailored to be either rigid or flexible and is the material of choice for a broad range of end-user applications, such as adhesives, coatings, building insulation, etc. |
| Reactive Adhesives | A reactive adhesive is made of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Rebar Protectors | In concrete structures, rebar is one of the important components, and its deterioration due to corrosion is a major issue that affects the safety, durability, and life span of buildings and structures. For this reason, rebar protectors are used to protect against degrading effects, especially in infrastructure and industrial construction. |
| Repair and Rehabilitation Chemicals | Repair and Rehabilitation Chemicals include repair mortars, injection grouting materials, fiber wrapping systems, micro-concrete mortars, etc., used to repair and restore existing buildings and structures. |
| Residential Construction | Residential construction involves constructing new houses or spaces like condominiums, villas, and landed homes. |
| Resin Fixing | The process of using resins like epoxy and polyurethane for grouting applications is called resin fixing. Resin fixing offers several advantages, such as high compressive and tensile strength, negligible shrinkage, and greater chemical resistance compared to cementitious fixing. |
| Retarder | Retarders are admixtures used to slow down the setting time of concrete. These are usually added with a dosage rate of around 0.2% -0.6% by weight of cement. These admixtures slow down hydration or lower the rate at which water penetrates the cement particles by making concrete workable for a long time. |
| Sealants | A sealant is a viscous material that has little or no flow qualities, which causes it to remain on surfaces where they are applied. Sealants can also be thinner, enabling penetration to a certain substance through capillary action. |
| Sheet Waterproofing Membranes | Sheet membrane systems are reliable and durable thermoplastic waterproofing solutions that are used for waterproofing applications even in the most demanding below-ground structures, including those exposed to highly aggressive ground conditions and stress. |
| Shrinkage Reducing Admixture | Shrinkage-reducing admixtures are used to reduce concrete shrinkage, whether from drying or self-desiccation. |
| Silicone | Silicone is a polymer that contains silicon combined with carbon, hydrogen, oxygen, and, in some cases, other elements. It is an inert synthetic compound that comes in various forms, such as oil, rubber, and resin. Due to its heat-resistant properties, it finds applications in sealants, adhesives, lubricants, etc. |
| Solvent-borne Adhesives | Solvent-borne adhesives are mixtures of solvents and thermoplastic or slightly cross-linked polymers such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers. |
| Surface Treatment Chemicals | Surface treatment chemicals are chemicals used to treat concrete surfaces, including roofs, vertical surfaces, and others. They act as curing compounds, demolding agents, rust removers, and others. They are cost-effective and can be used on roadways, pavements, parking lots, and others. |
| Viscosity Modifier | Viscosity Modifiers are concrete admixtures used to change various properties of admixtures, including viscosity, workability, cohesiveness, and others. These are usually added with a dosage of around 0.01% to 0.1% by weight of cement. |
| Water Reducer | Water reducers, also called plasticizers, are a type of admixture used to decrease the water-to-cement ratio in the concrete, thereby increasing the durability and strength of concrete. Various water reducers include refined lignosulfonates, gluconates, hydroxycarboxylic acids, sugar acids, and others. |
| Water-borne Adhesives | Water-borne adhesives use water as a carrier or diluting medium to disperse resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a dilutant rather than a volatile organic solvent. |
| Waterproofing Chemicals | Waterproofing chemicals are designed to protect a surface from the perils of leakage. A waterproofing chemical is a protective coating or primer applied to a structure's roof, retaining walls, or basement. |
| Waterproofing Membranes | Waterproofing membranes are liquid-applied or self-adhering layers of water-tight materials that prevent water from penetrating or damaging a structure when applied to roofs, walls, foundations, basements, bathrooms, and other areas exposed to moisture or water. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
