Global Cement and Concrete Products Market Thrives, Envisions $527.78 Billion by 2027

December 05, 2023 03:00 PM GMT | By EIN Presswire
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LONDON, GREATER LONDON, UK, December 5, 2023 / -- The global cement and concrete products market witnessed robust growth, escalating from $364.12 billion in 2022 to $394.02 billion in 2023, boasting an impressive compound annual growth rate (CAGR) of 8.2%. The market size of global cement and concrete products market is expected to grow to $527.78 billion in 2027 at a CAGR of 7.6%.

Government Initiatives Drive Demand for Affordable Housing
Governments worldwide have launched initiatives offering funds and subsidies to make housing affordable, particularly for low-income families, thereby spurring the demand for cement and concrete. These subsidies empower customers to borrow money at low-interest rates for new house investments. Noteworthy examples include Australia's 'First Home Owners Grant' scheme, providing a $15,000 grant for first-time buyers, and India's "Housing for All by 2022" mission, offering grants for slum rehabilitation and new house construction. Such government efforts have incentivized new house construction, propelling growth in the cement and concrete products market.

Key Players Shaping the Market Landscape
Major players influencing the cement and concrete products market include China National Building Material Group Co. Ltd., LafargeHolcim Ltd., HeidelbergCement AG, Anhui Conch Cement Company Limited, CRH plc, Votorantim S.A, Cemex SAB de CV, UltraTech Cement Limited, Grasim Industries Limited, and Taiheiyo Cement Corporation. These industry leaders play a pivotal role in steering market trends and innovations.

Explore comprehensive insights into the global cement and concrete products market with a detailed sample report:

Digital Technologies Revolutionize Cement Manufacturing
Cement manufacturing plants are increasingly embracing digital technologies, such as the internet of things (IoT), to enhance efficiencies. IoT, a network of physical devices communicating over the internet, enables remote monitoring and predictive maintenance of cement plants. It aids in overseeing quarry vehicle operations, reporting key metrics, and predicting potential malfunctions. Predictive maintenance using IoT can improve uptime for critical cement equipment, including grinding mills and kilns. IoT applications in the cement industry extend to tracking concrete mixture durability, ensuring compliance with international standards, and optimizing quarry production through connected logistics.

Regional Dynamics
Asia-Pacific emerged as the largest region in the cement and concrete products market share in 2022, underscoring substantial market size. Western Europe secured the second-largest position, reflecting the global distribution of the market. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Market Segmentation

The global cement and concrete products market is intricately segmented based on:

1. Type:
• Cement
• Ready-Mix Concrete
• Concrete Pipe
• Brick and Block
• Other Concrete Products
2. Product:
• Rapid Hardening Cement
• Low Heat Cement
• White Cement
• Hydrophobic Cement
• Other Products (Colored Cement, Portland Pozzolana Cement)
3. Application:
• Residential
• Non-Residential

Access the complete report for detailed segmentation analysis:

Cement And Concrete Products Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cement And Concrete Products Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on cement and concrete products market size, cement and concrete products market drivers and cement and concrete products market trends, cement and concrete products market major players, competitors' revenues, market positioning, and market growth across geographies. The cement and concrete products market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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