Global Cement Industry Market Intelligence Databook Reveals Projected Industry Growth and Emerging Trends for 2024: A Forecasted US$397 Billion Market by 2027 [Yahoo! Finance]
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Source: Yahoo! Finance
The cement industry is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 2.9% during 2023-2027. The global cement output is expected to increase from US$342.8 billion in 2022 to reach US$397.0 billion by 2027. The global cement industry was projected to stabilize in 2023, after facing a difficult year in 2022, owing to higher energy prices and soaring inflation. The reopening of the Chinese economy, along with the policy measures announced by Beijing to revive the construction and real estate market, will support global cement consumption over the next 12 months. Beyond China , the demand for cement is also projected to increase at a modest rate in India . This will be driven by pre-election spending on infrastructure projects and a further recovery in urban housing. In the Middle East , public works are projected to increase, which will also assist the demand for cement in the region.
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