Market Size of ordinary portland cement Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2018 - 2030 |
|
Market Volume (2024) | 1.27 Billion Tons |
|
|
Market Volume (2030) | 1.68 Billion Tons |
|
Largest Share by End Use Sector | Infrastructure |
|
|
CAGR (2024 - 2030) | 4.70 % |
|
Largest Share by Region | Asia-Pacific |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Ordinary Portland Cement Market Analysis
The Ordinary Portland Cement Market size is estimated at 1.27 billion Tons in 2024, and is expected to reach 1.68 billion Tons by 2030, growing at a CAGR of 4.70% during the forecast period (2024-2030).
1.27 Billion
Market Size in 2024 (Tons)
1.68 Billion
Market Size in 2030 (Tons)
1.05 %
CAGR (2018-2023)
4.70 %
CAGR (2024-2030)
Largest Market by End Use Sector
47.43 %
volume share, Infrastructure, 2023
Due to the escalating demand for infrastructure in developing economies and increasing consumption of ordinary Portland cement in major infrastructure projects, the infrastructure sector holds the largest share.
Fastest Market by End Use Sector
6.31 %
Projected CAGR, Commercial, 2024-2030
Rising commercial spaces globally, coupled with growing demand for Ordinary Portland cement in the construction of malls, offices, and multi-story warehouses, are expected to drive the demand in the sector.
Largest Market by Region
69.98 %
volume share, Asia-Pacific, 2023
Due to the growing construction industrial activity in the region, coupled with the increasing demand for ordinary portland cement in countries like China, India, Japan, and South Korea, the region has dominated the market.
Fastest Market by Region
6.86 %
Projected CAGR, Middle East and Africa, 2024-2030
The fast-paced growth of construction activities in the region, coupled with government initiatives such as Vision 2030, the region is expected to witness the fastest growth during the forecast period.
Leading Company
11.43 %
market share, Anhui Conch Cement Company Limited, 2022
In 2022, the company held the largest share, with a production capacity of around 200 million tons per year. The company serves customers across various construction sectors.
Rising infrastructure spending is likely to drive the demand for ordinary Portland cement
- In 2022, the global cement market saw ordinary Portland cement (OPC) dominate, capturing a significant 29.18% market share. The consumption of OPC was projected to grow by 0.81% in 2023, driven by rising demand from the residential and infrastructure construction sectors.
- Infrastructure emerged as the leading consumer of OPC in 2022, accounting for nearly half (47.91%) of the market. Global infrastructure spending was set to hit USD 2.78 trillion in 2023, buoyed by increased investments. Notably, the United States plans to allocate USD 1.2 trillion by 2025, including USD 550 billion from the Infrastructure Investment and Jobs Act. These funds will be channeled into diverse projects like roads, bridges, rail, smart infrastructure, broadband, and electric vehicles. Consequently, OPC demand for the infrastructure sector is projected to surge from 576.76 million tons in 2023 to 778.92 million tons in 2030.
- The commercial segment is poised to be the fastest-growing consumer of OPC, with a robust CAGR of 6.30% during the forecast period. The global new floor area for commercial spaces is projected to rise by 301 million sq. ft in 2024, driven by heightened demand for shopping malls, offices, and other commercial establishments. For instance, Indonesia has six shopping mall projects slated for completion by 2025, adding up to a combined area of 292 thousand sq. meters. Consequently, the global OPC demand for the commercial sector is anticipated to climb by 56.52 million tons by 2030, compared to the levels seen in 2023.
Understand The Key Trends Shaping This Market
The Middle East & Africa is expected to lead in terms of consumption volume of ordinary Portland cement during the forecast period
- In 2022, the global consumption of ordinary Portland cement dipped by 3.14% compared to the previous year. This decline was largely driven by a 5.72% drop in consumption from Asia-Pacific. The construction industry faced headwinds, grappling with surging inflation, soaring raw material prices, and an impending recession. These factors, coupled with a pullback in investments and project delays, weighed on the demand for ordinary Portland cement. However, in 2023, they anticipated a modest rebound, with consumption projected to inch up by 0.81%. This uptick is primarily driven by a projected 5.69% surge in demand from Europe.
- Asia-Pacific emerged as the dominant consumer of ordinary Portland cement in 2022, accounting for a significant 70.71% of the global demand. Notably, countries like China, Japan, and India played pivotal roles in shaping this demand. China's investment in transport infrastructure rose from USD 157.6 billion in 2021 to USD 165.6 billion in 2022. Japan witnessed a surge in manufacturing facility constructions, while India focused on bolstering its connectivity through road, rail, and highway projects.
- The Middle East & Africa is poised to witness the swiftest growth in ordinary Portland cement consumption, with a projected CAGR of 6.98% during the forecast period. The United Arab Emirates stood out, with an 82% surge in infrastructure investments from 2021 to 2022. In 2022, Saudi Arabia and the UAE accounted for 11% and 3% of global consumption, respectively. Notably, Saudi Arabia's ambitious Vision 2030 and its agreements, including those worth nearly USD 2.66 billion for investment funds, underscore its commitment to developing commercial, tourism, and residential projects.
Ordinary Portland Cement Industry Segmentation
Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Asia-Pacific, Europe, Middle East and Africa, North America, South America are covered as segments by Region.
- In 2022, the global cement market saw ordinary Portland cement (OPC) dominate, capturing a significant 29.18% market share. The consumption of OPC was projected to grow by 0.81% in 2023, driven by rising demand from the residential and infrastructure construction sectors.
- Infrastructure emerged as the leading consumer of OPC in 2022, accounting for nearly half (47.91%) of the market. Global infrastructure spending was set to hit USD 2.78 trillion in 2023, buoyed by increased investments. Notably, the United States plans to allocate USD 1.2 trillion by 2025, including USD 550 billion from the Infrastructure Investment and Jobs Act. These funds will be channeled into diverse projects like roads, bridges, rail, smart infrastructure, broadband, and electric vehicles. Consequently, OPC demand for the infrastructure sector is projected to surge from 576.76 million tons in 2023 to 778.92 million tons in 2030.
- The commercial segment is poised to be the fastest-growing consumer of OPC, with a robust CAGR of 6.30% during the forecast period. The global new floor area for commercial spaces is projected to rise by 301 million sq. ft in 2024, driven by heightened demand for shopping malls, offices, and other commercial establishments. For instance, Indonesia has six shopping mall projects slated for completion by 2025, adding up to a combined area of 292 thousand sq. meters. Consequently, the global OPC demand for the commercial sector is anticipated to climb by 56.52 million tons by 2030, compared to the levels seen in 2023.
| End Use Sector | |
| Commercial | |
| Industrial and Institutional | |
| Infrastructure | |
| Residential |
| Region | ||||||||||||||
| ||||||||||||||
| ||||||||||||||
| ||||||||||||||
| ||||||||||||||
|
Need A Different Region Or Segment?
Ordinary Portland Cement Market Size Summary
The Ordinary Portland Cement (OPC) market is experiencing a dynamic phase, driven by robust demand from the residential and infrastructure construction sectors. In 2022, OPC dominated the global cement market, capturing a significant share. The infrastructure sector emerged as the leading consumer, fueled by substantial global infrastructure spending, particularly in the United States. This trend is expected to continue, with the commercial segment anticipated to be the fastest-growing consumer of OPC, driven by increased demand for shopping malls, offices, and other commercial establishments. Despite a dip in global consumption in 2022 due to economic challenges, a modest rebound was projected for 2023, with Europe showing promising growth.
Regionally, Asia-Pacific has been the dominant consumer of OPC, with countries like China, Japan, and India playing pivotal roles. The Middle East and Africa are poised for rapid growth, with significant infrastructure investments in the United Arab Emirates and Saudi Arabia. The global new floor area for commercial construction is set to expand, particularly in Asia-Pacific, driven by extensive projects in major cities. Meanwhile, the residential construction sector is expected to recover, supported by government initiatives in South America aimed at providing affordable housing. The OPC market remains fragmented, with major players like Anhui Conch Cement Company Limited and Heidelberg Materials leading the industry. Recent developments include advancements in sustainable cement production and capacity expansions in Indonesia.
Ordinary Portland Cement Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)
-
1.1 End Use Sector
-
1.1.1 Commercial
-
1.1.2 Industrial and Institutional
-
1.1.3 Infrastructure
-
1.1.4 Residential
-
-
1.2 Region
-
1.2.1 Asia-Pacific
-
1.2.1.1 By Country
-
1.2.1.1.1 Australia
-
1.2.1.1.2 China
-
1.2.1.1.3 India
-
1.2.1.1.4 Indonesia
-
1.2.1.1.5 Japan
-
1.2.1.1.6 Malaysia
-
1.2.1.1.7 South Korea
-
1.2.1.1.8 Thailand
-
1.2.1.1.9 Vietnam
-
1.2.1.1.10 Rest of Asia-Pacific
-
-
-
1.2.2 Europe
-
1.2.2.1 By Country
-
1.2.2.1.1 France
-
1.2.2.1.2 Germany
-
1.2.2.1.3 Italy
-
1.2.2.1.4 Russia
-
1.2.2.1.5 Spain
-
1.2.2.1.6 United Kingdom
-
1.2.2.1.7 Rest of Europe
-
-
-
1.2.3 Middle East and Africa
-
1.2.3.1 By Country
-
1.2.3.1.1 Saudi Arabia
-
1.2.3.1.2 United Arab Emirates
-
1.2.3.1.3 Rest of Middle East and Africa
-
-
-
1.2.4 North America
-
1.2.4.1 By Country
-
1.2.4.1.1 Canada
-
1.2.4.1.2 Mexico
-
1.2.4.1.3 United States
-
-
-
1.2.5 South America
-
1.2.5.1 By Country
-
1.2.5.1.1 Argentina
-
1.2.5.1.2 Brazil
-
1.2.5.1.3 Rest of South America
-
-
-
-
Ordinary Portland Cement Market Size FAQs
What is the current Global Ordinary Portland Cement Market size?
The Global Ordinary Portland Cement Market is projected to register a CAGR of 4.70% during the forecast period (2024-2030).
Who are the key players in Global Ordinary Portland Cement Market?
Anhui Conch Cement Company Limited, BBMG Corporation, China National Building Material Group Corporation, Heidelberg Materials and Holcim are the major companies operating in the Global Ordinary Portland Cement Market.
