A new Freedonia Group study finds that the 3.9 billion metric ton global cement market will return to slight growth through 2023 after posting marginal declines from 2013 to 2018. provides key context for understanding where the global market is headed, and which countries, innovations, and other key factors will drive it.
More information about this study is here: https://www.freedoniagroup.com/industry-study/global-cement-3699.htm
Dominant Chinese market to contract through 2023
Accounting for over half of total cement demand in 2018, China will continue to be a drag on global growth prospects for cement, as the nation’s robust economic expansion and related advances in construction slow down. Excluding China, however, the pace of gains worldwide will be much faster, supported by:
- expanding construction activity as urbanization rates and infrastructure investment in developing regions rise
- increasing modernization and technological advancement of cement industries in low-income and developing economies
- growing interest in cement products with improved energy efficiency and environmental profiles, particularly in higher-income countries
Environmental and regulatory concerns steering product innovation
As one of the most energy-intensive manufacturing industries, concrete production is frequently implicated in environmental regulation – particularly in higher-income areas such as the US and the EU. As such, manufacturers in these areas often focus on:
- increasing the efficiency and quality of their operations
- improving product performance
- making cement more environmentally friendly
For example, a number of environmentally conscious cement innovations have been introduced in recent years, such as TecEco’s (Australia) carbon-trapping Eco-Cement and Holcim Philippines’ (LafargeHolcim) Solido with reduced clinker content, which provides for a better environmental profile than standard cement.
Want to learn more?
For more insight, check out the new Freedonia Group study, Global Cement, which analyzes the global market for cement by product, market, end user, and major region. Historical data and demand forecasts are presented in metric tons. International production, pricing, and trade trends are also provided, as are in-depth profiles of leading industry participants including market share, recent restructuring activity, and key product innovations.
Additional studies covering construction industry trends are available from Freedonia’s Construction & Building Products research group.