Market Insights Reports delivers key insights on the Cement And Concrete Products market is provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global cement and concrete products market is expected to grow from $333.26 billion in 2020 to $365.58 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $481.23 billion in 2025 at a CAGR of 7%.
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Top Key Players in the Global Cement And Concrete Products Market: LafargeHolcim Ltd; China National Building Material Company Limited; Anhui Conch Cement Company Limited; CRH Plc; HeidelbergCement AG, and Others.
Asia Pacific was the largest region in the global cement and concrete products market, accounting for 37% of the market in 2020. North America was the second largest region accounting for 23% of the global cement and concrete products market. Africa was the smallest region in the global cement and concrete products 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 which 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. Zoomlin, a ready-mix concrete production equipment manufacturer, is actively testing data-based metrics to improve operations of vehicles used in quarries.
During the historic 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 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.
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 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.
Markets Covered: 1) By Type: Cement; Ready-Mix Concrete; Concrete Pipe, Brick, And Block; Other Concrete Products
2) By Product: Rapid Hardening Cement; Low Heat Cement; White Cement; Hydrophobic Cement; Others (Colored Cement, Portland Pozzolana Cement)
3) By Application: Residential; Non-Residential
Top Line Market Forecast:
Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2025 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
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This Cement And Concrete Products Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
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