According to the latest report by IMARC Group, titled “Portland Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global Portland cement market size was worth 5.11 Billion Tons in 2019. Portland cement is the basic ingredient used in concrete and is manufactured by heating and grinding a mixture of limestone and clay or shale. It is made up of four main compounds, namely, tricalcium silicate, dicalcium silicate, tricalcium aluminate, and tetra-calcium aluminoferrite. Portland cement is an excellent building material with exceptional binding properties, durability, strength and is relatively low-cost as compared to other building materials. It forms the backbone of the construction industry, wherein it is used in various structures such as bridges, dams, tunnels and lighthouses. It is utilized in mortar for plastering, masonry work, pointing, and the manufacturing of precast pipes, piles and fencing posts.
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Global Portland Cement Market Trends:
Over the years, with the rising number of construction and infrastructural activities, the demand for Portland cement has increased. Apar from this, the market growth is also being spurred by the specialty applications of the product. Portland cement is widely used in the construction of nuclear waste facilities and as a medium for protecting and controlling radioactive species. Besides this, oil-well cement, which is used for cementing work in the drilling of oil wells, usually consists of Portland cement with special organic retarders to prevent it from setting too quickly. Another major growth-inducing factor is the investment by governments of various nations in mega infrastructural projects, including the development of smart cities. Moreover, significant improvements have been made in the production process of cement to reduce the associated environmental impact, which is expected to influence the market positively. On account of these factors, the market is projected to reach a volume of 6.08 Billion Tons by 2025, expanding at a CAGR of 2.9% during 2020-2025.
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Insights on Market Segmentation:
Breakup by Type
1. Type 1
2. Type 2
3. Type 3
4. Type 4
5. Type 5
Based on the type, the market has been segmented into type 1, 2, 3, 4 and 5. Currently, type 1 Portland cement is the most popular segment, accounting for the majority of the total market share.
Breakup by Application Sector
1. Residential
2. Commercial
3. Industrial
On the basis of the application sector, the market has been categorized into residential, commercial and industrial. At present, the residential sector dominates the market, holding the largest market share
Breakup by Packing Type
1. 10 KG
2. 15 KG
3. 25 KG
4. Others
The market has been classified based on the packaging type into 10kg, 15kg, 25kg and others.
Breakup by Region
1. Asia Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America
Region-wise, Asia Pacific holds the leading position in the market, which further includes countries like China, India, Japan and others. Other major regions are North America (the United States and Canada), Europe (Germany, the United Kingdom and others), Middle East and Africa (Saudi Arabia and South Africa and others), and Latin America (Brazil, Argentina and others).
Competitive Landscape
The competitive landscape of the market has also been examined, with some of the key players being Mitsubishi Cement Corporation, Alamo Cement Company, Martin Marietta Inc., Heidelberg Cement Group, National Cement Company, American Cement Company, Lafarge Holcim Ltd, Argos Ltd, China National Building Material Co. Ltd., Salt River Materials Group, Anhui Conch Cement Co., Ltd., Ash Grove Cement Company, Tanzania Portland Cement Public Limited Company (TPC PLC), Quikrete Holding Ltd., CalPortland Company, Inc., Capitol Aggregates Inc, CEMEX S.A.B. de C.V., GCC of America, Inc., Lehigh Hanson, Inc., National Cement Company of Alabama, Inc., Ultratech Cement Limited and Buzzi Unicem USA Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
