Demand for Cement Expands

Cement represents a vital commodity for fast-growing economies. It is widely used in the production of concrete, which is a key building material for mass construction projects such as civil works, residences, and industrial estates.

Cement, or ordinary Portland cement, is a grey colored inorganic substance with excellent hydraulic binding properties. Since it is a finely ground combination of minerals, it turns into a rock-like substance when mixed with water, sand, and gravel.

According to a new report, the global cement market reached a volume of around f billion tons in 2016. This represents a CAGR (compound annual growth rate) of around 7% from 2009 until 2016.

Factors such as increasing urbanization and industrialization are stimulating the growth of the market. The continuously rising global populations united with an increase in the number of nuclear families results in a huge demand for shelter and infrastructure, which strengthens the global demand for cement.

Cement manufacturing is an energy-intensive process and becomes uneconomical if transported over long distances. Most countries now have their own production units and only a limited quantity of cement is currently being traded in the global market.

China currently controls the global cement market accounting for the majority of the total global consumption. China is followed by India, the United States, Brazil, and others.

As the demand for cement grows, the construction industry expands along with it.

Posted: 5/15/2017 5:24:26 PM