The Concrete And Cement Market is being driven by Growing global construction industry
The Concrete And Cement Market is expected to grow at a CAGR of 6.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 481.6 billion. Economic growth and urbanization in key markets such as India, Vietnam, Malaysia, China, and Qatar have led to substantial income increases and enhanced consumer purchasing power. Notably, China's GDP per capita rose from approximately USD10,260 in 2019 to around USD13,900 in 2024. India's GDP per capita saw a similar trend, increasing from USD2,099.6 in 2019 to about USD2,698 in 2024. This surge in consumer purchasing power is anticipated to fuel increased spending on both residential and non-residential infrastructure projects. This trend is expected to positively impact the global construction sector and the concrete and cement market during the forecast period.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
198 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.6% |
Market growth 2025-2029 |
USD 481.6 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
6.2 |
Key countries |
China, US, Japan, India, South Korea, UK, Australia, Canada, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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In urban areas, the Concrete and Cement Market encompasses the production and supply of essential construction materials such as Sand, Gravel, Concrete pipes, Bricks, Paving blocks, and various types of Cement including Rapid hardening, Low heat, White, Hydrophobic, Colored, Portland pozzolana, and Advanced concrete. Urban centers in Developing and Developed markets witness a construction boom with a focus on Residential buildings, Commercial buildings, and High rise buildings, fueled by infrastructure investments, regulatory standards, and sustainable construction practices. Threats and opportunities include the use of Steel beams, urbanization, and digitalization in construction. Drivers and restraints include infrastructure resilience and regulatory compliance. Planned skyscrapers and the need for eco-friendly and durable construction solutions continue to shape market growth.
In the expansive construction materials sector, cement and concrete, along with aggregates such as sand, gravel, and various building components like concrete pipes, bricks, and paving blocks, fall under the purview of the global construction materials market. This market encompasses the consolidated revenue generated by manufacturers and suppliers of a diverse range of materials, including chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. The burgeoning building and construction industry, which has experienced robust growth in recent years, serves as a significant catalyst for the expansion of this market. The ongoing upward trend in the construction sector is projected to continue, fueling the demand for construction materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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