Major companies in the cement and concrete products market include LafargeHolcim Ltd; China National Building Material Company Limited; Anhui Conch Cement Company Limited; CRH Plc and HeidelbergCement AG.
New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cement And Concrete Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009798/?utm_source=GNW
The global cement and concrete products market is expected to grow from $333.26 billion in 2020 to $365.58 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $481.23 billion in 2025 at a CAGR of 7%.
The cement and concrete products market consists of sales of cement and concrete products and related services by entities (organizations, sole traders and partnerships) that manufacture cement and concrete products such as concrete pipes, bricks, and paving blocks. The cement and concrete products manufacturing industry includes establishments engaged in manufacturing Portland cement, natural cement, masonry cement, pozzolanic cement, ready-mix concrete, concrete blocks, bricks, and pipes and related products. The cement and concrete products market is segmented into cement; ready-mix concrete; concrete pipe, brick, and block; and other concrete products.
Asia Pacific was the largest region in the global cement and concrete products market, accounting for 37% of the market in 2020. North America was the second largest region accounting for 23% of the global cement and concrete products market. Africa was the smallest region in the global cement and concrete products market.
Cement manufacturing plants are increasingly using digital technologies such as the internet of things (IoT) to improve plant efficiencies. IoT is a network of physical devices which communicate over the internet. IoT helps in remote monitoring and predictive maintenance of a cement plant. Remote monitoring is used to oversee operations of big vehicles in the quarries and to report on key metrics such as fuel consumption per ton and operating hours. IoT can also be used to predict potential malfunctions and maintenance needs. In cement plants, predictive maintenance can improve up-time on critical cement equipment such as grinding mills and kilns. Other applications of IoT in the cement industry include tracking and measuring the durability of concrete mixture, reporting on compliance to international standards, and connected logistics to improve quarry production. Zoomlin, a ready-mix concrete production equipment manufacturer, is actively testing data-based metrics to improve operations of vehicles used in quarries.
During the historic period, the shortages of coal supply were a major restraint on the cement manufacturing industry. Cement manufacturing is an energy-intensive process and a major portion of this energy comes from burning coal, especially in developing countries. Coal supply reduced globally during the historic period due to logistics issues and decline in investments in coal extraction, negatively affecting the cement manufacturing industry. This increased the costs of coal, and also the production costs for cement manufacturers, restricting the growth of the cement and concrete market.
Governments globally launched initiatives to provide funds and subsidies to make housing affordable, especially for low income families , which drove the demand for cement and concrete. These subsidies allowed customers to borrow money at low interest rates to invest in new houses. The government of Australia, for example, provides a grant of $15,000 through the ‘First Home Owners Grant’ scheme for purchase or construction of homes by first time buyers. The Indian Government launched the “Housing for All by 2022” mission which provides grants for slum rehabilitation and construction of new houses. Such government initiatives encouraged people to construct new houses and drive growth in the housing market increasing the demand for cement in the historic period.
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