Cement and Concrete Products Market is Expected to Grow at an Impressive CAGR
Global cement and concrete products market is expected
to grow due to government initiatives to boost housing and increasing
infrastructure spending during the forecast period of 2024-2028.
According to TechSci Research report, Cement
and Concrete Products Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2028, the global cement and concrete products
market is anticipated to register robust growth during the forecast period. To
increase the productivity of production processes in cement manufacturing
facilities, cement firms have begun implementing innovative technology.
Companies are automating production facilities by putting in cutting-edge
sensors to keep an eye on vital indicators. Vibration sensors have been
introduced by Hansford Sensors, a manufacturer of vibration sensors and system
applications, to track numerous machine parameters used in the production of
cement. To monitor and maintain operations, these sensors can be put on kiln
drives, crushers, screens, conveyer belts, raw mills, separators, and blowers.
To save expenses of production, alternative fuels are being
employed more in the cement industry. Fuel consumption makes up over one-third
of the cost of producing cement, and the cement manufacturing business is quite
capital-intensive. Due to the recent increase in cement demand, the bulk of
enterprises have focused on expanding their capacity. Due to the aforementioned
factors, manufacturers have begun to investigate alternative fuel sources such
as biomass or waste to save operating costs and promote a better environment. Therefore,
the market is expected to grow during the forecast period.
Browse over XX market data Figures spread through 110 Pages and
an in-depth TOC on " Global Cement and Concrete Products Market.”
The global cement and concrete products market is segmented
based on type, product, application, and region. Based on type, the market is
segmented into cement, ready-mix concrete, concrete pipe, brick & block,
and other concrete products. Based on product, the market is segmented into rapid
hardening cement, low heat cement, white cement, hydrophobic cement, and other
products. Based on application, the market is segmented into residential and non-residential.
Based on region, the market is further bifurcated into North America,
Asia-Pacific, Europe, South America, and Middle East & Africa.
Based on type, the ready-mix concrete segment is the largest
segment in the global cement and concrete products market. Ready-mix concrete,
which is produced in a factory surroundings, has a superior quality and has
minimal batch variance. The location of the project is another important
consideration because transportation needs can affect the project. Typically,
ready-mix concrete is advised for significant projects requiring a huge volume.
On the other hand, site mixing is a preferable choice for modest projects and
renovations when the volume of concrete is smaller. Due to these factors, the market
is expected to grow during the forecast period.
Based on application, the non-residential segment is expected to
generate the highest revenue during the forecast period. Due to rising investment
in infrastructure projects such as building stadiums, commercial complexes,
industrial buildings, roadways, dams, and transportation hubs. Moreover,
growing urbanization and infrastructure development has led to an increase in
the demand for cement. The growth of the market is also anticipated to be
supported by the increasing need for hospitals and schools.
Based on region, Asia-Pacific is expected to dominate the market during the forecast period due to the rising demand for commodity from Southeast Asian countries and developing nations such as China and India. One of the main factors driving this market in this region is the expansion of construction and infrastructure industries. China is the main nation contributing to the market growth in the area due to its dominance as a global manufacturer and consumer. The country's dominance is ascribed to a number of causes, such as the region's active infrastructural development and high population increase. Additionally, the country's rapidly increasing need for commercial and residential space will drive the growth of the market in Asia Pacific market.
Key market players in the global cement and
concrete products market are:
- Heidelberg
Cement
- Lafarge
Holcim
- CRH plc
- The Siam
Cement Group
- Titan
Cement Company S.A.
- Aditya
Birla Ultratech
- Mitsubishi
Cement Corporation
- CNBM
International Corporation
- Drake
Cement LLC
- Taiheiyo
Cement Corporation
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“To increase plant efficiency, cement manufacturing facilities are
increasingly utilizing digital technologies such as the internet of things
(IoT). IoT supports remote plant monitoring and proactive maintenance.
Big-vehicle operations in quarries are monitored remotely, and critical metrics
such as fuel usage per tonne and operating hours are reported. The demand for
cement and concrete was sparked by governments around the world launching
programs to offer cash and subsidies to make housing accessible, particularly
for low-income households, due to these reasons global cement and concrete products market is anticipated to
propel the market's growth in the near future,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Cement and Concrete Products Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F By Type (Cement, Ready-Mix Concrete, Concrete Pipe, Brick & Block, Other Concrete Products), By Product (Rapid Hardening Cement, Low Heat Cement, White Cement, Hydrophobic Cement, Other Products), By Application (Residential, Non-Residential), By Region” has evaluated the future growth potential of the global cement and concrete products market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global cement and concrete products market.
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