Learn about cement prices in different countries including China, the United States, India, Russia, Germany, the United Arab Emirates, South Africa, Brazil, Egypt, and Australia. Understand the factors that affect cement prices and the average price range per tonne in each country.

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Cement Market Size 2024-2028

The cement market is estimated to grow by USD 89.4 billion at a CAGR of 4.25% between 2023 and 2028. The market is experiencing significant growth, driven by increasing investments in road and highway infrastructure projects, particularly in the highway sectors. This trend is fueled by government initiatives to improve connectivity and boost economic development. The market is expanding rapidly due to increased construction activities, with rising demand for high-quality cement products driving advancements in production technologies and sustainable building practices. Another key trend is the adoption of alternative fuels in cement manufacturing, such as waste materials and biomass, to reduce carbon emissions and improve sustainability. Additionally, rising construction costs are pushing cement producers to increase efficiency and reduce production costs through technological advancements and economies of scale. These factors, along with population growth and urbanization, are expected to continue driving market growth in the coming years.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

By Product

The market share growth by the blended segment will be significant during the forecast period. Blended cement is a product in which part of the clinker is substituted with other materials. The market plays a pivotal role in the infrastructure and construction sectors, particularly in the development of airports, bridges, commercial projects, and buildings. Cement consumption is driven by the demand for concrete in various applications, including the construction of healthcare centers, hospitals, housing, and dams. Cement formulations have evolved to include eco-friendly options, such as blended cement and green cement, which help reduce carbon emissions and the environmental footprint.

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The blended segment was valued at USD 184.20 billion in 2018. The production of this product involves interring one or more additives, in various proportions, at the grinding stage. Thus, blended cement can be defined as the uniform mix of portland cement and blending materials such as silica fumes, fly ash, limestone, and slag to enhance its properties for different applications. The consumption of this product is increasing as it can improve the workability, strength, durability, and chemical resistance of concrete. Additionally, water consumption is less, which makes it easy to work with and shape. This product can also be used in functions such as domestic construction, engineering projects, mining applications, and road construction. Therefore, the increase in various infrastructural development projects will drive the demand for blended cement and, contribute to the growth of the market in focus during the forecast period.

By Region

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APAC is estimated to contribute 87% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, APAC accounted for the largest share of the global market in terms of consumption. The market in APAC is dominated by China, Japan, India, Australia, South Korea, and Indonesia. The factors responsible for the growth of the market in APAC are growing industrialization, rapid urbanization, and increasing infrastructure development. APAC is leading the market as it is home to some of the leading manufacturing and export-oriented countries. Several countries in APAC are witnessing rapid economic growth, which is boosting the industrial sector and increasing the urbanization rate. China, India, Japan, and Australia significantly contribute to the growth of the market in APAC.

Moreover, in APAC, population growth will also fuel the demand for cement during the forecast period. The Smart City Mission by the Government of India has increased infrastructure development in the country. The ongoing infrastructure projects across the country will drive the demand during the forecast period. Such projects require cement, which will drive the growth of the market in APAC during the forecast period. The construction industry in several Asian countries is also growing. Developing countries, including India, Vietnam, Indonesia, and Malaysia, where residential housing constructions are growing exponentially due to a rise in household incomes and increasing urbanization, are expected to be significant contributors to the growth of the market in APAC during the forecast period.

Market Dynamics and Customer Landscape

The market witnesses robust growth driven by worldwide demand in both the industrial and inst

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TMT Steel Bar Market Size 2025-2029

The TMT steel bar market size is forecast to increase by USD 91 billion at a CAGR of 4.3% between 2024 and 2029.

The market is experiencing significant growth due to several key factors. The increasing demand for steel, driven by infrastructure development and construction projects, is a major growth driver. Additionally, the rising demand for seismic resistance in buildings and structures is leading to increased usage of TMT steel bars. However, fluctuating raw material costs pose a challenge to market growth. Producers must carefully manage their costs to maintain profitability. The market is expected to continue its growth trajectory, driven by these trends and challenges. TMT steel bars offer superior strength and durability, making them an essential component in various industries. As the demand for infrastructure development and construction projects continues to rise, the market for TMT steel bars is poised for steady growth.

What will be the Size of the TMT Steel Bar Market During the Forecast Period?

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The TMT (Thermomechanically Treated) steel bar market in the United States is experiencing significant growth due to the increasing demand for infrastructure development. TMT steel bars, available in various sizes such as 68 mm, 812 mm, and 12 mm, are increasingly being used in heavy industry applications, including torsional bars, low-cost reinforcement bars for residential and commercial construction, and concrete structures for buildings and industrial structures. The mechanical qualities of TMT steel bars, including their superior torsional strength, corrosion resistance, and earthquake resistance, make them a preferred choice for construction projects. These bars are also ductile and fatigue-resistant, ensuring a super-strong structure that can withstand heavy loads.



Heat treatment techniques such as rapid cooling are used to enhance the mechanical properties of TMT steel bars, making them ideal for use in infrastructure applications. The construction sector, particularly in the areas of hydropower plants and industrial structures, is a major consumer of TMT steel bars and other construction materials due to its ability to provide a reliable and durable solution. Water jet technology is used in the production of TMT steel bars, ensuring consistent and precise dimensions, while adhering to industry standards. The growing demand for earthquake-resistant and corrosion-resistant structures is expected to further drive the growth of the market in the United States.

How is this TMT Steel Bar Industry segmented and which is the largest segment?

The TMT steel bar industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Commercial
  Infrastructure


Grade Type

  Fe 415
  Fe 500 and 500D
  Fe 550 and 550D
  Fe 600
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France
    Italy


  North America

    Canada
    US


  Middle East and Africa



  South America

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

TMT (Thermo-Mechanically Treated) steel bars are a preferred choice in the construction sector due to their superior mechanical qualities and corrosion resistance. These bars are widely used in urban areas for the construction of residential buildings and concrete structures. The use of TMT bars offers several advantages, including high tensile strength, excellent ductility, and a superior strength-to-weight ratio. These properties ensure the structural integrity and safety of buildings, bridges, dams, and other infrastructure. TMT bars can deform without breaking during seismic events, making them essential for earthquake resistance. The heat treatment process, which involves rapid cooling, enhances the steel's mechanical properties.

TMT bars are available in various grades to cater to different applications and load requirements. Producers use advanced technologies to ensure consistent quality and meet industry standards. The use of TMT bars is expected to continue growing due to their proven performance and durability.

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The residential segment was valued at USD 164.10 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 77% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more in