Portland cement amounts to 90% of the total cement produced worldwide, which makes it the single most prominent cement type in the market, cement is an essential ingredient in the construction industry, and is used in myriad applications. Portland cement is the basic ingredient used in mortar, concrete, non-specialty grouts and stucco. This type of cement is produced from raw materials such as limestone, clay, and sand. The widespread availability of these raw materials renders affordability to Portland cement, making it one of the cheapest materials used for construction activities. Portland cement is characterized by attributes such as high durability, high dependability, cost-effectiveness, and versatility in a variety of construction applications. Owing to these properties, Portland cement is used for constructing buildings, bridges, tanks, reservoirs, pavements, sidewalks, culverts, masonry units, and water pipes.
In the recent past, these has been an increase in construction activity across the global in the backdrop of global economic recovery. Numerous countries have initiated infrastructure projects fueling the demand in the global Portland cement market, which is projected for a healthy CAGR of 5.1% during the forecast period of 2014 - 2020, reaching a valuation of US$332.2 bn by 2020.
Residential Remains Prominent Application Segment
Based on application, the global Portland cement market is segmented into residential, commercial, infrastructure, and others including bricks and farm construction. Residential is the most prominent application segment of Portland cement. Most residential accommodations and buildings are constructed using Portland cement as an essential ingredient. Market demand for Portland cement for the residential segment is driven by emerging economies, especially China and India, wherein residential construction has been growing with increasing urbanization and population. Portland cement is also used for renovation and maintenance activities. In addition, increased urban population in various regions is expected to create demand for better housing, which in turn is expected to boost the demand for Portland cement for residential application across the globe.
Asia Pacific Most Lucrative Regional Market
The global Portland cement market demonstrates growth prospects due to ample score for cement demand across the world. Currently, Asia Pacific serves the maximum demand, and is expected to remain the most lucrative region during the forecast period. This is a reflection of factors such as growth in the number of residential constructions and infrastructure development projects undertake in the region. Increase urbanization in countries such as China and India is expected to offer strong market demand for Portland cement in the next few years. China has allotted around 1.9 billion square meters of flood spare for residential construction in the next few year. Similar construction activities have been planned in countries such as India, Indonesia, and Malaysia. North America is the second most lucrative region, followed by rest of the world, which is gaining from the upcoming world cup 2022 in Qatar.
Some of the key players in the global Portland cement market are Lafarge SA, Heidelberg Cement, Holcim, CNBM, Italcementi, Anhui Conch, and UltraTech Cement Ltd.
- Others (including cement bricks, farm construction, etc.)
- North America
- Asia Pacific
- Rest of the World (RoW)