Cement Market to Exhibit 5.2% CAGR, Surge in Industrial Setups and UrbanizationPosted by Rushikesh Pise on January 16th, 2020 The Cement Market size is anticipated to witness considerable growth on account of rising in construction activities worldwide. Fortune Business Insights™ in their report titled, “Cement Market Size, Share & Industry Analysis, By Type (Portland, Blended, and Others), By Application (Residential, and Non-Residential), and Regional Forecasts, 2019-2026” presents a comprehensive analysis on the same. List of prominent companies that are operating in the Cement Market are:
According to the report by Fortune Business Insights™, the global cement market size is expected to be worth USD 463.0 billion by the end of 2026 from USD 312.5 billion in 2018. The forecast period is set from 2019 to 2026, and the market is anticipated to grow at a CAGR of 5.2%. The report is based on qualitative and quantitative cement market analysis, predominantly focusing on growth trajectories such as factors boosting and challenging the market, prime industry developments, key market insights. It also describes in detail the market segmentation and list of players operating in the market with major strategies adopted by them. Besides this, the report highlights some of the key cement market trends prevalent today that will bode well for players and the entire market in the forecast period. Browse Report Summary: https://www.fortunebusinessinsights.com/industry-reports/cement-market-101825 Rise in Urbanization to Propel Demand for Cement in Market The increasing population is further boosting activities such as industrialization and urbanization on a global basis. The rise in need for residential space is positively influencing the cement market growth. The cement market is witnessing robust growth on account of the rise in industrialization and urbanization activities. Besides this, the surging demand for amenities such as roads, airports, malls, office buildings, and residential spaces are further expected to help earn high cement market revenue in the forecast period. Furthermore, changing lifestyle and the need for living quality life will help to increase the need for urbanization, and ultimately boost the cement market size in the coming years. Increasing Infrastructural Activities to Help Propel Asia Pacific Market From a geographical perspective, North America earned USD 12.3 billion Cement market size in 2018. Although the report on the cement market forecasts Asia Pacific to hold the highest cement market share in the future. In 2018, this region was leading the market with the growth of construction and infrastructural developmental activities especially in developing nations such as India, China. China is the dominant producer and consumer of cement globally. The rise in demand for cement in the emerging nations, coupled with the surging demand for cement from Southeast Asian nations are anticipated to help Asia Pacific continue dominance in the coming years as well. On the other hand, Europe market will witness significant growth on account of rising in public infrastructure. Countries such as France, UK, Germany, and Russia are primarily contributing to the cement market growth of the region. Like it? Share it! More by this author |