A new Freedonia Group study, Global Blended Cement, projects that all markets for cement in the Asia/Pacific region are projected to see gains:
- Increased urban migration combined with population gains will result in rapidly growing cities, spurring advances in housing construction and corresponding demand for cement.
- Strong economic growth is also expected in developing countries throughout the Asia/Pacific region, generating demand for cement in the construction of commercial, industrial, and retail facilities.
- Demand in the infrastructure market will grow, as countries such as India and Indonesia are expected to allocate massive funds for construction of roads, bridges, railways, dams, and other transportation and energy infrastructure.
China was by far the largest global blended cement market in 2020, with demand of 2.2 billion metric tons, representing a 73% share of the global market and an 85% share of regional demand.
China is the world’s leading consumer of cement because of its massive economy, public infrastructure, and construction industry. The country has also experienced rapid industrialization and urbanization since 2000. As a result, the intensity of cement use in China – gauged against population size – is very high by global standards.
Demand for blended cement in India totaled 194 million metric ton in 2020, accounting for 8% of regional demand.
India’s massive population provides a large baseline for cement demand, and economic development in recent years has led to rapid increases in cement usage. Despite these gains, India’s cement market still contains significant untapped potential.