The report on the Masonry Cement Market (Type - Type N, Type S, And Others; Application - Residential Construction, Non-residential Construction, And Industrial Construction): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028. The revenue generated by the masonry cement market was over 340 billion in 2022 and is expected to reach nearly USD 460 billion in 2028, growing at a CAGR of about 5% over the forecast period 2022-2028.
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"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2022-2028."
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Growing Demand for Amenities in Residential Spaces
Masonry cement is a binder used in construction that sets, hardens, and adheres to other materials, binding them together. It is categorized into various grades such as type N, type S, and others depending on its binding strength. This cement is mixed with white Portland cement and finely ground white limestone, combined with process additions, to enhance its water retention, workability, and durability. It is used for installing bricks, blocks, stone masonry construction, and other structural masonry walls. The addition of colored sand or pigments in masonry cement produces a wide range of color schemes. The rising population will effectively influence the market growth on account of the increasing need for residential spaces, such as apartments and private bungalows. Furthermore, the growing demand for amenities in residential spaces is expected to accelerate the market size.
Increasing Need for Residential Spaces
Consumer spending patterns and shopping selections were influenced by the COVID-19 epidemic. As a result of several governments taking multiple measures to restrict the spread of COVID-19, market growth has slowed slightly. Social isolation guidelines, business operating hours restrictions, and travel restrictions were just a few of the basic approaches during the pandemic Manufacturing facilities were all shut down due to the pandemic in almost every country across the globe. Logistical restrictions, manpower shortage, material unavailability, and other restrictions had reduced the growth of the industry. The pandemic has affected the normal production of companies. The COVID-19 pandemic has created instability in the masonry cement market across the globe. Nevertheless, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily during the forecast period. However, online sales of the product increased.
The Non-residential Application Segment Dominates the Global Market
The report on the global masonry cement market covers segments such as by type and application. The market is segmented into residential and non-residential on the basis of application. Among these, the non-residential segment is expected to be dominant throughout the forecast period. In this segment, the product is used for applications, such as the construction of roads, dams, commercial complexes, industrial buildings, stadiums, and transportation hubs. Rising urbanization and infrastructural activities have led to the increased demand for the product. Additionally, the high need for hospitals and schools is expected to support the market growth.
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The Asia-Pacific Leads the Global Market
The Asia Pacific accounted for the highest share in 2021 and is expected to remain dominant throughout the forecast period. This is attributable to the increased demand for the product from developing nations, such as China and India, and Southeast Asian countries. Growth in the construction & infrastructure activities is a key driver for this market in this region. China is the major country contributing to the market growth in the region as it is the dominant producer and consumer in the world. The dominance of the country is attributed to factors including the rapid growth in population and infrastructure development activities in the region.
Furthermore, the propelling demand for residential spaces in the country will support the market growth in China. In North America, the increasing demand for public infrastructure is one of the major factors influencing the growth of this market. Latin America will exhibit development in the market owing to rising urbanization. Government initiatives, such as housing schemes, establishments of hospitals and school facilities, and the development and maintenance of transportation infrastructure are other key factors that would lead to the growth of this market around the world.
Competitive Landscape of the Global Market
Major producers of the product are spread out over the globe. It is leading to a diversified market structure. Producers located in North America and Europe are aiming to increase their presence in China and other countries in the Asia Pacific in order to strengthen the market positions and drive the business growth of their organizations. The report provides a complete insight into the competitors in the masonry cement market, such as Cementir Holding, LafargeHolcim, HeidelbergCement, Federal White Cement, Royal White Cement, Sesco Cement Corp., Titan America, Lehigh White Cement Company, Aalborg White, CEMEX USA, and Sakrete.
For instance, In November 2020, HeidelbergCement invested around USD 485 million to modernize and reorganize its several cement plants in France. This investment program is intended to optimize the effectiveness, structures, and processes of the company’s operations in France.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the masonry cement.
=> Complete coverage of all the product types and applications segments to analyze the trends, developments, and forecast of market size up to 2028.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
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