Published on 6/10/2021
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Cement And Concrete Products Market - Opportunities And Strategies – COVID-19 Impact
Global Newswires - June 10, 2021
Source : Global Newswires
LONDON, June 10, 2021 (GLOBE NEWSWIRE) -- The Business Research Company’s latest research on the cement and concrete products market provides the reader detailed market data on the concrete products market’s competitive landscape, including concrete products market major players, cement and concrete products manufacturing companies, cement and concrete products market share by company and more.
The cement and concrete products market is fairly fragmented with a large number of small players. Major players in the market include China National Building Material Company Limited, Anhui Conch Cement Company Limited, LafargeHolcim, HeidelbergCement, CRH Plc and others. The top ten competitors in the market made up to nearly 40% of the total market.
However, this is expected to change in near future with increasing acquisitions among the players in the market. For example, in January 2021, Swedish ready-mix concrete products manufacturer Swerock acquired cement and mineral aggregate operations in Luleå, Sweden, to enhance its production capability. The restricted competition supported by the coordination among the largest cement producers in the market to maintain their respective shares and market stability will also contribute to the market consolidation going forward.
The merger and acquisition activity in the cement and concrete products market has been at a high in the last three years. Another noticeable acquisition, in 2017, German cement company HeidelbergCement, the fourth largest competitor in the cement and concrete products market with a 4.3% share of the market,acquired CEMEX’s Pacific Northwest Materials Business consisting of aggregate, asphalt and ready-mix concrete operations in Oregon and Washington, for a purchase price of $150 million. With this acquisition, HeidelbergCement aims to strengthen its vertically integrated market position and significantly improve its annual synergies. CEMEX is a Mexico-based company which produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials.
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The Business Research Company’s report titled Cement And Concrete Products Market - Opportunities And Strategies – Global Forecast To 2030 covers cement and concrete products market growth rate, cement and concrete products market size, cement and concrete products market forecasts, cement and concrete products market trends and drivers.
The global cement and concrete products market is expected to grow from $333 billion in 2020 to $481 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The market is expected to grow to $645 million in 2030 at a compound annual growth rate of 6.0%.
The major reason for the growth of the market is increasing infrastructure spending. Governments globally are increasingly spending on infrastructure projects, which are expected to stimulate the demand for cement and concrete products during the forecast period. Many countries are focusing on the renovation of old infrastructure and cater to the increasing populations. In 2016, Canada, for instance, has announced infrastructure investments of more than $180 billion over a span of 12 years, of which $28.7 billion will be spent on public transit systems. Under Germany’s 2030 Federal Transport Infrastructure Plan, the government plans to invest $147.6 billion to build roads in the country.
In November 2020, the UK government announced a GBP 100 billion ($133.5 billion) infrastructure plan to upgrade the country’s infrastructure and over the next four years government plans to increase spending to GBP 600 billion ($801.0) on infrastructure. This infrastructure development project includes construction of 860,000 new houses, as well as new roads, cycle lanes, community facilities and development of 4G broadband across 95% of the UK by 2025. Increasing infrastructure spending by governments is expected to drive the demand for cement, contributing to the growth of the market going forward.
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Cement And Concrete Products Market - Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide cement and concrete products market overviews, analyze and forecast market size and growth for the whole market, segments, and geographies, cement and concrete products trends, cement and concrete products drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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