Rapid Urbanization in Asia Pacific to Benefit Portland Cement Market

2024-04-22 11:29:16 Industry

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According to a recent market study published by Transparency Market Research (TMR), the demand from the global portland cement market is slated to rise at a CAGR of 5.1% between 2014 and 2020. The report states that the market, which totaled more than 3.6 bn tons in 2013, is expected to amount to close to 5.2 bn tons by 2020.

The report is titled ?Portland Cement Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020? and is available for sale on the company website.

Portland cement plays an important role in construction applications. Worldwide, portland cement is utilized in the construction of residential and commercial structures. In recent times, rapid urbanization and infrastructural development in China, Brazil, India, South Africa, and Russia have significantly contributed to the global portland cement market.Further, the Olympic Games in 2016 and the FIFA World Cup in 2018, which will be hosted by Brazil and Russia, respectively, will require massive infrastructural development. These are two of the most high-profile sporting events in the world and require world-class stadiums and other ancillary amenities for hosting the spectacle.

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For example, the Russian government has allocated almost US$16bn for developing essential infrastructure for the FIFA World Cup in 2018. However, stringent regulations for the use of portland cement, which is related with environmental deterioration, may challenge this market. The report segments the portland cement market on the basis of applications and geography. By application, residential, infrastructure, commercial, and others (farm construction, cement bricks, etc.) are the major segments of the portland cement market.

In 2013, the infrastructure and residential construction applications led the market and collectively accounted for over 70% of the demand for portland cement. The global portland cement market is divided into four geographical regions, namely North America, Asia Pacific, Europe, and Rest of the World (RoW). Asia Pacific was registered as the largest market for portland cement in 2013. The region accounted for almost 65% of the total market the same year.

The region is expected to emerge as the fastest growing market for portland cement in terms of both consumption and production for the forecast period. Rising urbanization and economic development are attributed as the main factors responsible for the region emerging as the key destination for producers of portland cement. Consequently, several producers of portland cement are engaging in establishing new capacities or making capacity additions to existing plants in this region.

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North America and Europe trail Asia Pacific in terms of revenue in the global portland cement market. The Rest of the World region also exhibits high consumption of portland cement, with the region expected to rise at a CAGR of 5.6% in terms of revenue in the period from 2014 to 2020.Some of the major companies operating in the global Portland cement industry are Lafarge SA, Heidelberg Cement, Anhui Conch, Ultratech Cement Ltd, Holcim, CNBM, and Italcementi.

The global portland cement market is segmented as follows:

Portland cement Market - Application Segment Analysis

Residential
Commercial
Infrastructure
Others (Including cement bricks, farm construction, etc.)