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Global Cement And Concrete Products Market Is Expected To Reach Over $480 Bn By 2025

Cement And Concrete Products Market 2022: Market Size, Trends, And Forecast To 2026

Cement And Concrete Products Market 2022: Market Size, Trends, And Forecast To 2026

The Business Research Company’s Cement And Concrete Products Market 2022: Market Size, Trends, And Forecast To 2026

LONDON, GREATER LONDON, UK, January 26, 2022 /EINPresswire.com/ -- The cement and concrete products market consists of sales of businesses manufacturing cement and concrete products such as concrete pipes, bricks, and paving blocks.

As per data on the Global Market Model, the global cement and concrete products market size was valued at $365.6 billion in 2021, having grown from $333.3 billion in 2020 at a compound annual growth rate (CAGR) of 9.7%, effectively reversing the 9.9% market decline from 2019 resulting from the COVID-19 slowdown. This growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact which had led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $482.9 billion in 2025 at a CAGR of 7.2%.

Asia Pacific was the largest region in the global cement and concrete products market, accounting for 36% of the market in 2021. North America was the second largest region, accounting for 23% of the global cement and concrete products market. Africa was the smallest region in the global cement and concrete products market. By individual country, in 2020 the USA had the largest share of the global market accounting for 19% with China in second place with 14%.

The cement and concrete products market is segmented into ready mixed concrete accounting for 52% of the market in 2021, other concrete products accounting for 25%, cement accounting for 13% with the balance attributed to concrete pipes, bricks and blocks. Ready mixed concrete is expected to be the fasting growing sector in the forecast period to 2025 with a CAGR of 7.9% followed by other concrete products at 7.5%. Cement and concrete pipes, bricks and blocks are both expected to grow with a CAGR of 5.2%

Major trends in cement and concrete products market include:
IoT in Cement Manufacturing: Cement manufacturing plants are increasingly using digital technologies such as the internet of things (IoT) to improve plant efficiencies. The IoT helps in remote monitoring and predictive maintenance of a cement plant. Remote monitoring is used to oversee operations of big vehicles in the quarries and to report on key metrics such as fuel consumption per tonne and operating hours. IoT can also be used to predict potential malfunctions and maintenance needs.

Innovations in Cement Production: The increased use of alternative raw materials in cement production is delivering improved quality of products and reducing the environmental impact. The main raw material used in cement production has traditionally been limestone. About 60% of the industry’s CO2 emissions are caused by decarbonation of limestone during the production process. The innovations and R&D projects in the industry have already replaced some of the natural raw materials with waste and by-products from other industrial processes.

Cement And Concrete Products Market 2021 - By Type, By Application, And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides cement and concrete products market overviews, analyzes and forecasts cement and concrete products market size, share, cement and concrete products market players, cement and concrete products market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

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