Get the latest insights on price movement and trend analysis of Cement in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In 2024, the U.S. cement market increased by 1.6% to $16.8B, rising for the fourth year in a row after two years of decline. Overall, the total consumption indicated a tangible increase from 2012 to 2024: its value increased at an average annual rate of +4.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +24.8% against 2020 indices.

The global cement market reached a value of USD 403.70 Billion in the year 2024. The market is expected to grow at a CAGR of 5.40% between 2025 and 2034 to reach USD 683.07 Billion by 2034.

The Cement Market report segments the industry into End Use Sector (Commercial, Industrial and Institutional, Infrastructure, Residential), Product (Blended Cement, Fiber Cement, Ordinary Portland Cement, White Cement, Other Types), and Region (Asia-Pacific, Europe, Middle East and Africa, North America, South America). Five years of historical data plus five-year forecasts are provided.

After three years of growth, the global cement market decreased by -4% to $379.6B in 2024. The market value increased at an average annual rate of +1.8% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $395.2B, and then shrank modestly in the following year.

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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

The North America Cement Market Report and is Segmented by Type (Portland, Blended, and Others), Application (Residential, Commercial, Infrastructure, and Industrial and Institutional), and Geography (United States, Canada, Mexico, Rest of North America). The Report Offers Market Size and Forecasts for Cement in Volume (Million Tons) for all the Above Segments

Turkey (X tons) and Vietnam (X tons) represented roughly 26% of total exports in 2021. Germany (X tons) ranks next in terms of the total exports with a 5.1% share, followed by Japan (4.6%). Canada (X tons), Thailand (X tons), Greece (X tons), Spain (X tons), Pakistan (X tons), Saudi Arabia (X tons), Belgium (X tons), the United Arab Emirates (X tons) and Slovakia (X tons) held a little share of total exports.

U.S. CEMENT MARKET valued USD 18.7 Billion in 2024 and is projected to surpass USD 24.0 Billion through 2032

The global cement market size was valued at around USD 371.1 billion in 2024 and is projected to grow at a CAGR of more than 5.5%, reaching USD 744.34 billion revenue by 2037. Blended segment is set to capture 54.9% share by 2037, driven by its ability to reduce CO2 emissions and its increasing adoption in sustainable construction practices.

The global GCC Cement market reached USD 6,492.7 million in 2020. Worldwide demand for GCC Cement saw a 5.7% year-on-year growth in 2025, suggesting an expansion of the market to USD 8,566.5 million in 2025. Projections for the period between 2025 and 2035 indicate a 5.7% compound annual growth rate (CAGR) for global GCC Cement sales, resulting in a market size of USD 14,912.6 million by the end of 2035.

Attributes	Key Insights
Estimated Value (2025)	USD 8,566.5 million
Projected Size (2035)	USD 14,912.6 million
Value-based CAGR (2025 to 2035)	5.7%

Semi-Annual Market Update for the GCC Cement Industry

Particular	Value CAGR
H1 2024	5.6% (2024 to 2034)
H2 2024	5.7% (2024 to 2034)
H1 2025	5.8% (2025 to 2035)
H2 2025	5.9% (2025 to 2035)

Country-wise Insights in the GCC Cement Market

Countries	Value CAGR (2025 to 2035)
Saudi Arabia	4.6%
Oman	6.0%
Kuwait	5.7%
UAE	4.9%
Qatar	5.3%

Category-wise Insights in the Construction Cement Sector

Segment	Value Share (2025)
Ordinary Portland Cement (Product Type)	60.4%

Segment	Value Share (2025)
Residential and Commercial Building(End Use)	56.7%

The GCC cement market size reached 94.5 Million Tons in 2024. Looking forward, IMARC Group expects the market to reach 142.8 Million Tons by 2033, exhibiting a growth rate (CAGR) of 4.7% during 2025-2033. The robust economic growth, increasing urbanization, governmental investments in mega-projects, sustainable construction practices, rising population, and the focus on affordable housing solutions are among the key factors driving the market growth.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	94.5 Million Tons
Market Forecast in 2033	142.8 Million Tons
Market Growth Rate 2025-2033	4.7%

IMARC Group provides an analysis of the key trends in each segment of the GCC cement market report, along with forecasts at the regional and country levels from 2025-2033. Our report has categorized the market based on type and end use.

The Mexico cement market size reached around 46.90 MMT in 2024. The market is projected to grow at a CAGR of 1.10% between 2025 and 2034, reaching almost 52.32 MMT by 2034.

The GCC cement market is projected to grow at a CAGR of 4.5% during the forecast period (2023-2028). The market size is expected to reach USD 35.3 billion by 2028, up from USD 23.4 billion in 2022. The growth of the market is attributed to the increasing construction activities in the region, driven by the rising population, increasing urbanization, and government spending on infrastructure development. Additionally, the growing demand for affordable housing and the increasing adoption of sustainable cement solutions are also contributing to the market growth. The GCC cement market is segmented by type, application, and geography. By type, the market is divided into Portland cement, blended cement, and other types. Portland cement is the most widely used type of cement due to its high strength and durability. Blended cement is a combination of Portland cement and other materials, such as fly ash, slag, or limestone, and it is gaining popularity due to its environmental benefits. By application, the market is segmented into residential, commercial, infrastructure, industrial and institutional. The residential segment is the largest consumer of cement, followed by the commercial and infrastructure segments. By geography, the market is divided into Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait, and Bahrain. Saudi Arabia is the largest market for cement in the GCC, followed by the United Arab Emirates. Recent developments include: January 2024: Qassim Cement Company announced that it signed an agreement to acquire all shares of Hail Cement Company through a securities exchange offer., January 2024: Yamama Cement announced the expansion of a production line and shifted its old plant site south of Riyadh to its new site at Northern Halal in the Al-Kharj governorate. The expansion and shifting of the project will increase the capacity from 10,000 tons/day to 12,500 tons/day.. Key drivers for this market are: Increase in Residential Constructions Across the Region, Growing Infrastructural Activities In The Region; Other Drivers. Potential restraints include: Increase in Residential Constructions Across the Region, Growing Infrastructural Activities In The Region; Other Drivers. Notable trends are: Residential Construction Application to Dominate the Market.

The Europe Cement Market Report is Segmented by Product Type (Ordinary Portland Cement (OPC), Blended Cement, Others), End-User Industry (Residential, Commercial, Industrial and Institutional, Infrastructure), and Geography (Germany, France, United Kingdom, Italy, Spain, Nordic Countries, Poland, Rest of Europe). The Market Forecasts are Provided in Terms of Volume (tons).

The Global Green Cement Market is expected to grow from USD 39.19 billion in 2024 to USD 62.85 billion by 2030, with a CAGR of 8.19% during 2025-2030.

The Asia-Pacific Cement Market report segments the industry into End Use Sector (Commercial, Industrial and Institutional, Infrastructure, Residential), Product (Blended Cement, Fiber Cement, Ordinary Portland Cement, White Cement, Other Types), and Country (Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Vietnam, Rest of Asia-Pacific).

The United States cement market size attained a value of approximately 110.37 MMT in 2024. The market is further projected to grow at a CAGR of 2.00% in the forecast period of 2025-2034, reaching a value of around 134.54 MMT by 2034.

In 2024, the Croatian cement market increased by 24% to $248M, rising for the third year in a row after two years of decline. In general, the total consumption indicated a tangible increase from 2012 to 2024: its value increased at an average annual rate of +3.4% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +85.6% against 2021 indices.

Fiber Cement Market Size, Share, Growth, Forecast, and Trends 2024-2031 - DataM Intelligence