Latest News- Cement Market: Blended is expected to lead the Product segment during 2024-2028

The Cement Market is being driven by Increasing investments in road and highway infrastructure projects

The Cement Market is expected to grow at a CAGR of 4.25% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 89.4 billion. In the cement industry, the adoption of alternative fuels has emerged as a strategic initiative to reduce carbon emissions and promote sustainability. These alternative fuels, including waste oil, solvents, non-recyclable plastics, pre-treated industrial and municipal wastes, textiles, paper residues, biomass such as animal meal, wood chips, waste wood, rice husk, sawdust, and sewage sludge, and unrecyclable tires, have been successfully utilized in cement kilns. By replacing a proportionate quantity of coal with these alternative fuels based on their calorific value, cement kilns can significantly decrease carbon dioxide emissions during the production process. Construction and demolition wastes, such as demolition wood, used carpets, and old asphalt shingles, are also commonly employed as low-carbon alternative fuels. This practice not only benefits the environment but also enhances the industry's overall efficiency and competitiveness. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Blended
  • Portland
  • Others
• End-user
  • Residential
  • Non-residential
• Geography
  • APAC
    • China
    • India
    • Indonesia
  • Middle East and Africa
    • Turkey
  • Europe
  • North America
    • US
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investments in road and highway infrastructure projects
• Growth of construction industry
• Use of energy-efficient technologies

However, the market also witnesses some limitations, which are as follows:

• Increase in construction costs
• Drawbacks in cement manufacturing
• Stringent government regulations and depleting fossil fuel reserves

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Market Scope in Cement Market Research Report

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Research Analysis Overview

The cement market is experiencing significant growth due to the increasing demand for commercial and residential projects worldwide. Construction trends indicate a shift towards eco-friendly practices, leading to an increased focus on sustainability initiatives and cement formulations that meet environmental regulations. Emerging economies, particularly in Asia, are driving the demand for cement in infrastructure development, with a focus on building hospitals, healthcare centers, public infrastructure, and non-residential buildings. The primary raw materials for cement production are bauxite, iron ore, sand, clay, and limestone. Infrastructure development and the growing population's need for housing are major factors contributing to the worldwide demand for cement. Concrete homes are becoming increasingly popular due to their durability and energy efficiency. The infrastructure sector is a significant consumer of cement, with construction floor area expanding rapidly. The demand for eco-friendly construction practices is also leading to the development of new cement formulations that reduce carbon emissions and improve sustainability.

Market Research Overview

The construction materials sector encompasses a broad spectrum of products and businesses, including manufacturers of sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and other materials. The global construction materials market encompasses the consolidated revenue of providers in the chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products industries. Key growth drivers for this market include the burgeoning building and construction industry, which has experienced robust expansion in recent years and is projected to continue this trend.. 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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