The study from industrial research company Freedonia Group says that increased urban migration combined with population gains will result in rapidly growing cities, spurring advances in housing construction and corresponding demand for cement.
Strong economic growth is also expected in developing countries throughout the Asia/Pacific region, generating demand for cement in the construction of commercial, industrial, and retail facilities.
The report states that demand in the infrastructure market will grow, as countries such as India and Indonesia are expected to allocate massive funds for construction of roads, bridges, railways, dams, and other transportation and energy infrastructure.
China was by far the largest global blended cement market in 2020, with demand of 2.2 billion metric tonnes, representing a 73% share of the global market and an 85% share of regional demand.
China is the world’s leading consumer of cement because of its massive economy, public infrastructure, and construction industry. The country has also experienced rapid industrialisation and urbanisation since 2000. As a result, the intensity of cement use in China – gauged against population size – is very high by global standards.
Demand for blended cement in India totaled 194 million metric tonnes in 2020, accounting for 8% of regional demand.
"India’s massive population provides a large baseline for cement demand, and economic development in recent years has led to rapid increases in cement usage. Despite these gains, India’s cement market still contains significant untapped potential," according to Freedonia.
Blended cement is produced from a mix of ordinary Portland cement (OPC) combined with limestone, silica fumes, fly ash or slag. It is designed to increase the strength and durability of concrete.
