In 2024, the price of cement in the United States stood at an estimated *** U.S. dollars per metric ton, remaining the highest it has been in recent years. Different types of cement In 2024, the United States' imports of hydraulic cement amounted to ** million metric tons. One of the most common types of hydraulic cement is known as Portland cement. It is used in concrete, mortar, stucco, as well as grout. The U.S. produced an estimated ** million metric tons of Portland cement and masonry cement in 2024. Cement price recovery from the great recession In 2016, cement prices finally surpassed pre-recession prices, which was about *** U.S. dollars per metric ton the year prior to the global recession. By 2024, U.S. cement had increased further to an estimated price of *** U.S. dollars per metric ton. The cement price per ton relies heavily on demand from the construction industry. Global cement production may reach as much as *** billion metric tons by 2050. In 2023, France’s Saint-Gobain, one of the leading manufacturers of construction materials worldwide, reported sales totaling nearly ** billion U.S. dollars.

Graph and download economic data for Producer Price Index by Industry: Cement and Concrete Product Manufacturing (PCU32733273) from Dec 2003 to Jun 2025 about cement, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

This statistic represents the change in cement prices in the United States from 2013 to 2020. From 2019 to 2020, the price of cement in the U.S. is estimated to increase by around *** percent. Consumption of cement globally is expected to continue its increase into the future.

The prices of ready-mixed concrete in the United Kingdom increased by just **** percent in 2024. Although the cost of cement and pre-cast concrete also increased significantly that year, the price of concrete-reinforcing bars in 2024 fell by ***** percent lower than in 2024. These figures are an index based on the prices of 2015, which have been set at 100. This serves the purpose of showing the price evolution of this construction material.

The price hike is being blamed on a number of factors, including an increase in fuel costs and a shortage of clinker (a key ingredient in cement).

Learn about the multiple factors influencing cement prices, the global shift towards eco-friendly products, and the rising demand in India and UAE. Cement prices continue to rise due to increasing demand for sustainable cement and rising transportation and raw material costs.

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.

In 2022, the price of cement in India reached *** Indian rupees per bag (50 kilograms). The cement price has seen a steady increase in India since 2018. Cement industry in India Cement is a fundamental material used in construction and infrastructure development for it's adhesion and cohesion properties. India is one of the largest producers of cement in the world. In 2021, India produced about ***** million metric tons of cement in its integrated cement plants alone. India's housing and real estate sectors are the primary consumers of cement, followed by the infrastructure sector. The southern Indian states are the leading cement producing areas in the country. Indian cement production and companies As the demand for cement in various sectors increased over the years, cement production in India also saw an overall growth during the past few years. As of 2020, UltraTech Cement, an Indian cement company based in Mumbai, was India's largest cement production company. This company is part of the Aditya Birla Group, a global conglomerate.

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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 producer price index of concrete products in the United States increased by over 5.12 percent in 2024 in comparison to the previous year. During the past decade, the price of concrete products grew significantly. While the index was valued at 210.8 in 2011, that figure reached 384.82 in 2024.

At the end of fiscal year 2024, the Wholesale Price Index of cement and lime across India was over 140. This meant an increase in the WPI of about 37 percent from the base year of 2012. An overall increase in the price index value was noted over the years from financial year 2013 in the country.

Alternative Raw Materials for Cement Production Market Outlook

The global market for alternative raw materials in cement production is projected to reach a market size of USD 45 billion by 2032, growing at a CAGR of 6.5% from 2024 to 2032. The shift towards sustainability and the need to reduce carbon emissions are key growth factors driving this market.

One of the primary growth drivers for the alternative raw materials market in cement production is the increasing environmental concerns associated with traditional cement manufacturing processes. Conventional cement production is responsible for approximately 8% of global CO2 emissions. This alarming statistic has propelled the industry to explore alternative raw materials that can significantly reduce the carbon footprint. Governments worldwide are also implementing stringent regulations and policies to curb emissions, providing a substantial push for the adoption of sustainable materials.

Another crucial factor is the rising cost of traditional raw materials used in cement production, such as limestone and clay. The depletion of natural resources has led to increased prices, making it economically viable for manufacturers to explore alternative materials like fly ash, slag, and silica fume. These materials are often by-products of other industrial processes, making them not only cost-effective but also an excellent way to recycle waste that otherwise would contribute to environmental degradation.

The technological advancements in the processing and blending of alternative raw materials have also played a significant role in market growth. Innovations in grinding and blending technologies have made it easier to incorporate alternative materials without compromising the quality of the final product. This has made alternative raw materials a viable option for a wide range of applications, from residential construction to large-scale infrastructure projects. The continuous research and development activities in this field are expected to further enhance the performance characteristics of these materials.

The introduction of Low Carbon Cement is revolutionizing the cement industry by significantly reducing carbon emissions associated with traditional cement production. This innovative material is designed to lower the carbon footprint by incorporating alternative raw materials and advanced production techniques. By utilizing industrial by-products and reducing the reliance on energy-intensive clinker, Low Carbon Cement offers a sustainable solution to the environmental challenges faced by the construction sector. Its adoption is further supported by governmental policies aimed at promoting green building practices and reducing greenhouse gas emissions. As the demand for eco-friendly construction materials grows, Low Carbon Cement is poised to play a pivotal role in shaping the future of sustainable construction.

Regionally, the Asia Pacific region is leading the market, driven by rapid urbanization and the booming construction industry. Countries like China and India are significant contributors to this growth due to their large-scale infrastructure projects and increasing adoption of sustainable construction practices. North America and Europe are also witnessing substantial growth, fueled by stringent environmental regulations and a growing emphasis on sustainable development. In contrast, regions like Latin America and the Middle East & Africa are gradually catching up, supported by increasing investments in infrastructure and commercial construction.

Material Type Analysis

Fly Ash Analysis

Fly ash is one of the most commonly used alternative raw materials in cement production. Derived from the combustion of pulverized coal in power plants, fly ash is rich in alumina and silica, making it an excellent additive for cement. The material's usage not only improves the mechanical properties of the cement but also enhances its durability. Fly ash is particularly beneficial in reducing the heat of hydration in mass concrete applications, making it ideal for large infrastructure projects like dams and bridges. The growing emphasis on recycling industrial by-products is expected to drive the demand for fly ash in the coming years.

The availability of fly ash is another critical factor contributing to its widespread adoption. Countries with a high reliance on coal-fired power plants, such as China and India, produc

Graph and download economic data for Producer Price Index by Industry: Ready-Mix Concrete Manufacturing: Ready-Mix Concrete for South Census Region (PCU327320327320C) from Dec 2012 to Jun 2025 about South Census Region, cement, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

In the past five years, the market environment in the cement industry has been characterised by major contrasts. Under these circumstances, the industry's turnover only grew by an average of 0.5% per year. Until the first year of the pandemic in 2020, the industry was still developing extremely positively as a result of rising cement consumption. The industry benefited from a construction boom driven by historically low interest rates in the European Economic Area. In addition, the public sector showed an increasing willingness to invest.In 2021, domestic cement consumption and industry sales began to decline due to poor weather conditions and shortages of materials and skilled labour in the construction industry. Following the Russian invasion of Ukraine and the ECB's turnaround on interest rates in 2022, the construction industry and therefore also the cement industry faced even greater challenges. Public and private construction demand was dampened by sharp cost and price increases. The energy-intensive industry suffered from higher energy prices, which put increasing pressure on the earnings situation of many companies in the sector over time. Demand for cement is also expected to remain weak in 2024 due to a decline in building permits in the previous year. Against this backdrop, IBISWorld is forecasting an 11.1% decline in industry turnover for the current year compared to the previous year, meaning that turnover is likely to amount to €4 billion.In the next five years, industry turnover is expected to grow by an average of 0.7% per year, reaching a turnover of 4.2 billion euros in 2029. While the industry structure should remain unchanged over the next five years and no new players are likely to enter the industry due to high barriers to market entry, the issue of climate protection will play an important role. Due to requirements to reduce CO2 emissions, companies will be looking for ways to reduce not only their use of raw materials, but also their energy consumption. The war in Ukraine has significantly increased the pace of the switch to renewable energies. At the same time, questions of energy supply security have increasingly come into focus.

Revenue is expected to grow at a compound annual rate of 2.7% over the five years through 2025 to £47.9 billion, including estimated growth of 1.1% in 2025. The industry's revenue prospects are closely linked to economic cycles that influence construction activity in residential, commercial and infrastructure markets, which are crucial for manufacturers' income opportunities. In recent years, cement, lime and plaster manufacturers have faced several economic challenges, including high inflation, supply chain disruptions and aggressive interest rate hikes by central banks across Europe. These factors have substantially affected construction activity, dampening manufacturers' order books. Since COVID-19 hit, inflationary pressures have picked away at cement, lime and plaster manufacturers’ profitability. Rising prices were brought about by surges in demand amid the gradual reopening of the economy, coinciding with disruptions to supply chains. In 2022, inflation worsened, triggered by Russia’s invasion of Ukraine towards the start of the year, which compounded supply chain disruptions. Although proving less volatile than other building materials in 2022, cement prices picked up in 2023 despite falling energy costs, as cement is slower to react to market conditions than other building materials. The inflationary environment also resulted in central banks ramping up interest rates, raising the cost of borrowing and weighing on construction activity. Although inflationary pressures are beginning to ease, the industry still faces economic uncertainty as interest rates remain elevated despite recent reductions. Ongoing supply chain disruptions, exacerbated by US tariffs on trade, are anticipated to raise costs and hinder cement and plaster sales. Cement, lime and plaster manufacturing revenue is forecast to grow at a compound annual rate of 5.1% over the five years through 2030 to €61.3 billion. Construction activity is set to pick up as inflationary pressures subside, letting central banks lower interest rates, which will boost investor sentiment. Manufacturers will also be able to capitalise on the growing demand for sustainability, allowing them to exploit value-added opportunities. However, the R&D they’ll need to put into green products and processes will dent profitability in the short term, though will drive revenue growth over the long term.

In 2024, the EU cement market increased by 4.8% to $26.3B, rising for the ninth year in a row after three years of decline. The total consumption indicated a moderate expansion from 2012 to 2024: its value increased at an average annual rate of +3.7% 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 +85.0% against 2015 indices.

Concrete, cement and plaster product manufacturing revenue is anticipated to climb at a compound annual rate of 2.1% over the five years through 2025 to €163.9 billion, including an estimated increase of 1.4% in 2025. Construction product sales are hugely influenced by activity in the residential and non-residential construction markets, which depend on factors like exchange rates, supply chain disruptions and trading frictions. Concrete, cement and plaster product manufacturers have contended with numerous economic headwinds in recent years, like rampant inflation decimating demand and fierce supply chain disruptions ratcheting up purchase costs and weighing on profitability. After navigating their way through the COVID-19 outbreak, manufacturers were hit by supply chain disruptions and worker shortages, ramping up production costs. These disruptions were exacerbated by the Russia-Ukraine conflict in 2022, which caused energy prices to skyrocket. This hit manufacturers of products like brick and cement especially hard, given their energy-intensive production process. Rising energy prices, felt particularly strongly in the UK, also hurt demand from downstream markets as people tightened their purse strings, making them less inclined to begin renovation projects. To tackle inflation, central banks across Europe have raised interest rates, driving up borrowing costs. As a result, demand for new housing and commercial construction projects has plummeted, which has put a dent in sales of cement, concrete and building plaster products. This coincided with inflated building material costs, which further weighed on revenue growth by hiking the cost of construction projects, putting potential investors off. Although inflationary pressures are easing, the industry continues to grapple with economic uncertainty due to persistently high interest rates, despite recent cuts. Furthermore, ongoing supply chain disruptions, like the impact of US tariffs on trade, are set to dampen economic and construction activity in 2025, limiting revenue growth. Concrete, cement and plaster product manufacturing revenue is slated to swell at a compound annual rate of 3.8% over the five years through 2030 to €197.9 billion, while profit is also set to edge upwards. In the medium term, an improving economic environment is set to aid demand for construction products as inflationary pressures subside and interest rates continue to fall, reducing the cost of borrowing. Manufacturers will increasingly capitalise on growing demand for sustainable construction products, supporting revenue growth, as these products typically demand a higher price. Additionally, product innovations are expected to continue accelerating as construction clients seek more efficient and precise techniques, such as 3D concrete building. This demand is likely to stimulate heightened industry innovation and competition.

Concrete, cement and plaster product manufacturing revenue is anticipated to climb at a compound annual rate of 2.1% over the five years through 2025 to €163.9 billion, including an estimated increase of 1.4% in 2025. Construction product sales are hugely influenced by activity in the residential and non-residential construction markets, which depend on factors like exchange rates, supply chain disruptions and trading frictions. Concrete, cement and plaster product manufacturers have contended with numerous economic headwinds in recent years, like rampant inflation decimating demand and fierce supply chain disruptions ratcheting up purchase costs and weighing on profitability. After navigating their way through the COVID-19 outbreak, manufacturers were hit by supply chain disruptions and worker shortages, ramping up production costs. These disruptions were exacerbated by the Russia-Ukraine conflict in 2022, which caused energy prices to skyrocket. This hit manufacturers of products like brick and cement especially hard, given their energy-intensive production process. Rising energy prices, felt particularly strongly in the UK, also hurt demand from downstream markets as people tightened their purse strings, making them less inclined to begin renovation projects. To tackle inflation, central banks across Europe have raised interest rates, driving up borrowing costs. As a result, demand for new housing and commercial construction projects has plummeted, which has put a dent in sales of cement, concrete and building plaster products. This coincided with inflated building material costs, which further weighed on revenue growth by hiking the cost of construction projects, putting potential investors off. Although inflationary pressures are easing, the industry continues to grapple with economic uncertainty due to persistently high interest rates, despite recent cuts. Furthermore, ongoing supply chain disruptions, like the impact of US tariffs on trade, are set to dampen economic and construction activity in 2025, limiting revenue growth. Concrete, cement and plaster product manufacturing revenue is slated to swell at a compound annual rate of 3.8% over the five years through 2030 to €197.9 billion, while profit is also set to edge upwards. In the medium term, an improving economic environment is set to aid demand for construction products as inflationary pressures subside and interest rates continue to fall, reducing the cost of borrowing. Manufacturers will increasingly capitalise on growing demand for sustainable construction products, supporting revenue growth, as these products typically demand a higher price. Additionally, product innovations are expected to continue accelerating as construction clients seek more efficient and precise techniques, such as 3D concrete building. This demand is likely to stimulate heightened industry innovation and competition.

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.

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.

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.