Spain Cement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 16.28 Million tons |
| Market Volume (2029) | 19.86 Million tons |
| CAGR (2024 - 2029) | 4.06 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain Cement Market Analysis
The Spain Cement Market size is estimated at 16.28 Million tons in 2024, and is expected to reach 19.86 Million tons by 2029, at a CAGR of 4.06% during the forecast period (2024-2029).
The Spanish cement market faced setbacks due to COVID-19. Global lockdowns and stringent government regulations led to widespread shutdowns of production hubs. However, the market rebounded in 2021 and is projected to grow significantly in the upcoming years.
- Over the short term, rising residential and commercial construction activities and increasing investment in the infrastructure sector are the major factors driving the demand for the market studied.
- However, government regulations on carbon emissions from manufacturing plants are expected to hinder the market's growth.
- Nevertheless, growing technological advancements in the construction sector and shifting preference towards green construction are expected to create new opportunities for the market studied.
- The residential segment is expected to account for the largest application of the market studied while registering rapid growth over the forecast period.
Spain Cement Market Trends
Portland Cement Segment to Dominate The Market
- Portland cement, a hydraulic cement, is pivotal to the construction industry. As the most prevalent type of cement, it serves as a fundamental ingredient in producing concrete, mortar, and various other building materials.
- Portland cement has excellent binding properties, which allow it to hold aggregates together and form strong and durable concrete.
- Being a hydraulic cement, Portland cement hardens upon water exposure, broadening its application scope. Its high compressive strength further underscores its suitability for structural uses.
- Data from the Spanish Cement Association reveals that cement consumption in Spain stagnated in 2023, holding steady at 14.5 million tonnes (Mt). This figure marks a 3% year-on-year decline, continuing a five-year trend of no growth.
- Several factors, including Spain's economic slowdown and escalating raw material costs, contributed to the production decline. Nonetheless, Spain's cement industry proudly ranks as the fifth largest in Europe, trailing only Germany, France, Italy, and the United Kingdom.
- The Spanish cement industry is poised for stability, buoyed by government investments in infrastructure projects that are set to boost cement demand in the coming years.
- Spain's construction sector is set to grow by 1.2% in real terms in 2024. This growth is buoyed by significant investments in non-residential sectors and heightened funding for energy and industrial domains. Ongoing and planned infrastructure projects are likely to boost Portland cement demand, signaling a market resurgence in Spain during the forecast period. For instance,
- In November 2023, Junta de Andalucia, the regional government of Spain approved an expenditure of EUR 615.6 million (USD 630.3 million) in its regional 2024 budget, which is an increase of 32% compared to 2023 budget.
- In December 2023, Volkswagen, a German automobile company announced an investment of EUR 3 billion (USD 3.1 billion) for the construction of a battery factory in Sagunrt, Spain which is expected to be completed by 2026.
- Moreover, 2023 witnessed a notable surge in office construction project approvals in Spain. As per the data from the Ministry of Transport, Mobility and Urban Agenda indicates a 39% year-on-year rise in the number of approved buildings and a 19% increase in new floor space from January to May.
- Given these dynamics portland cement is poised to lead the market in the coming years.
Residential Segment to Dominate the Market
- Cement is pivotal in residential construction, acting as a primary binding agent across various building components. Its inherent properties are crucial for ensuring residential structures' strength, durability, and overall performance.
- Foundations, crafted from cement-based concrete, anchor the stability and support of the entire structure. Cement fortifies walls and floors, ensuring they withstand environmental challenges.
- As a key mortar component, cement bonds bricks, blocks, and stones, ensuring structural integrity and aesthetic appeal. Walls and ceilings receive a protective and smooth finish through cement-based plaster, guarding against moisture and damage.
- Cement forms the backbone of reinforced concrete beams and columns, essential for load-bearing and maintaining a home's structural integrity. Concrete slabs, crafted from cement, offer solid, level surfaces for floors and roofs.
- Spain's growing population drives a heightened demand for new homes, solidifying the dominance of the residential segment in construction.
- In 2023, residential construction spending in Spain witnessed a modest uptick of 1.5%, following a 3.3% growth in 2022. However, dampened demand looms due to declining real household incomes and rising interest rates, which could elevate mortgage servicing costs for many existing borrowers and dissuade potential homebuyers.
- Residential construction in Spain showcased a stronger pick up in 2024, when the signing of approvals reached 120,000 units, and this is expected to continue in 2025 with new housing starts advancing by around 15%, as per the data from Banco Bilbao Vizcaya Argentaria, S.A.
- Significant recent investments in residential construction projects in Spain are expected to boost the demand for the market studied. For instance, Las Lomas del Higueron Residential Complex Project is worth USD 696 million and aims to meet the increasing demand for luxurious apartments in Spain. The project is expected to be completed at the end of 2025.
- Housing sales in Spain are on an upward trajectory, witnessing a 6.1% growth in the initial five months of 2024. New building permits also showed promise, rising 14.8% YoY from January to May, despite the overall low levels. This supply-demand mismatch continues to fuel price growth, with a notable 4.3% YoY increase in Q1 2024, as reported by Banco Bilbao Vizcaya Argentaria, S.A.
- With declining interest rates, a gradual recovery in the eurozone, and a positive demographic outlook, residential demand in the country is poised to rise. Projections indicate home sales might see a 5.0% increase in 2024, potentially nearing 700,000 units by 2025.
- Residential construction is anticipated to gain momentum from 2024, with approvals hitting 120,000 units and a continued 15% growth in new housing starts in 2025.
- Given these residential industry trends, Spain's cement demand is poised for a significant surge in the coming years.
Spain Cement Industry Overview
The Spanish cement market is partially consolidated. The major players (not in any particular order) include Heidelberg Materials AG, Votorantim Cimentos, Cemex S.A.B. de C.V., Cementos Lemona S.L., and HOLCIM, among others.
Spain Cement Market Leaders
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Votorantim Cimentos
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Cemex S.A.B. de C.V.
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Cementos Lemona S.L.
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HOLCIM
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Heidelberg Materials AG
*Disclaimer: Major Players sorted in no particular order
Spain Cement Market News
- September 2024: Holcim Spain absorbed its subsidiary Cementos Esfera, which distributes cement from a facility in the port of Tarragona, Spain, likely as a strategic move to streamline its supply chain and operations. Holcim Spain bolsters its market position by consolidating this subsidiary, gaining enhanced control over its distribution network. This increased control allows Holcim Spain to respond more adeptly to shifting market dynamics.
- April 2024: Cemex has developed an innovative method to cut CO2 emissions during cement production by downsizing clinker particles. Dubbed clinker micronization, this technique diminishes the clinker factor in cement, leading to a reduced carbon footprint. Beyond its environmental benefits, this innovation positions Cemex to lower production costs, enhancing the competitiveness of its cement products in the marketplace.
Spain Cement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Residential and Commercial Construction Activities
4.1.2 Increasing Investment in the Infrastructure Sector
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Government Regulations on Carbon Emissions from Manufacturing Plants
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Product Type
5.1.1 Portland Cement
5.1.2 Blended Cement
5.1.3 Others
5.2 End-User Industry
5.2.1 Residential
5.2.2 Commercial
5.2.3 Infrastructure
5.2.4 Industrial and Institutional
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Cementos Aguila
6.4.2 Cementos Argos
6.4.3 Cementos Balboa
6.4.4 Cementos Buñol
6.4.5 Cementos Carrera
6.4.6 Cementos Cosmos
6.4.7 Cementos La Union
6.4.8 Cementos Lemona S.L.
6.4.9 Cementos Los Angeles
6.4.10 Cementos Molins
6.4.11 Cementos Portland Valderrivas
6.4.12 Cementos Puma
6.4.13 Cementos Tudela Veguin
6.4.14 Cemex S.A.B. de C.V.
6.4.15 Heidelberg Materials AG
6.4.16 HOLCIM
6.4.17 Votorantim Cimentos
6.4.18 Votorantim Cimentos
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Technological Advancements in the Construction Sector
7.2 Shifting Preference Towards Green Construction
7.3 Other Opportunities
Spain Cement Industry Segmentation
Cement serves as a binder, a chemical agent pivotal in construction. It sets, hardens, and adheres to various materials, effectively binding them together. Typically, cement appears as a fine, soft powder. When mixed with water and other substances, it forms mortar or concrete. While cement can stand alone, its primary role is to bind sand and gravel (aggregate). When combined with fine aggregate, it produces mortar for masonry; mixed with sand and gravel, it yields concrete.
The Spanish cement market is segmented by type and application. By product type, the market is segmented into portland, blended and other types. By application, the market is segmented into residential, commercial, infrastructure, and industrial and institutional. For each segment, the market sizing and forecasts have been done on the basis of volume (Tons).
| Product Type | |
| Portland Cement | |
| Blended Cement | |
| Others |
| End-User Industry | |
| Residential | |
| Commercial | |
| Infrastructure | |
| Industrial and Institutional |
Spain Cement Market Research FAQs
How big is the Spain Cement Market?
The Spain Cement Market size is expected to reach 16.28 million tons in 2024 and grow at a CAGR of 4.06% to reach 19.86 million tons by 2029.
What is the current Spain Cement Market size?
In 2024, the Spain Cement Market size is expected to reach 16.28 million tons.
Who are the key players in Spain Cement Market?
Votorantim Cimentos, Cemex S.A.B. de C.V., Cementos Lemona S.L., HOLCIM and Heidelberg Materials AG are the major companies operating in the Spain Cement Market.
What years does this Spain Cement Market cover, and what was the market size in 2023?
In 2023, the Spain Cement Market size was estimated at 15.62 million tons. The report covers the Spain Cement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Cement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Cement Industry Report
Statistics for the 2024 Spain Cement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Cement analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
