White Cement Market to Garner $ 10.90 Bn, Globally, By 2026 at 4.0 % CAGR, Says Allied Market Research
On the other hand, lower strength of white cement in comparison with other cements and higher costs as compared to gray cement hamper the white cement market growth.
PORTLAND, Oregon, March 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "White Cement Market Forecast by Type (White Portland Cement, White Masonry Cement, and Others) and End Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2018–2025." According to the report, the global white cement market generated $7.97 billion in 2017 and is estimated to garner $10.90 billion by 2025, growing at a CAGR of 4.0% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Rapid boom of the construction industry and high purchasing power of end users are the two major factors that drive the growth of the global white cement market. Furthermore, rise in use of white cement for decorative applications supplements the market growth. On the other hand, lower strength of white cement in comparison with other cements and higher costs as compared to gray cement hamper the white cement market growth. However, increase in demand for white cement as a substitute for gray cement provides lucrative opportunities in the white cement market forecast.
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The white Portland cement segment to maintain its leadership status by 2025:
On the basis of the type, the segment is divided into white Portland cement, white masonry cement, and others. The white Portland cement segment accounted for more than two-thirds of the total market share in 2017 and is expected to maintain its dominance by 2025. Furthermore, this segment is estimated to project the fastest CAGR of 4.1% from 2018 to 2025, owing to increase in use of white Portland cement in combination with white aggregates to produce white concrete for construction projects and decorative work. In addition, white Portland cement also blends with inorganic pigments to produce brightly colored concretes and mortars, which boosts the segment growth.
Granular segment to maintain its dominance throughout the forecast period:
On the basis of end use, the segment is divided into residential, commercial, and industrial. The residential segment held nearly half of the total market share in 2017 and will maintain its dominance throughout the forecast period, owing to the surge in the residential construction and rise in investments in North America, Asia-Pacific, and African countries. This has boosted the growth of the global white cement market. However, the commercial segment is estimated to register the highest CAGR of 4.3% from 2018 to 2025.
Asia-Pacific to grow at the fastest CAGR:
The Asia-Pacific region accounted for more than two-fifths of the market in terms of revenue in 2017. Moreover, this segment is estimated to register the highest CAGR of 4.3% from 2018 to 2025. This is pertaining to the rise in building & construction expenditures that drives the demand for white cement in housing and commercial projects in China and India. In addition, the increase in urban population makes way for increasing construction activities providing growth opportunity for the overall market. It increases the need for white cement products including facades tiles, trim boards especially in the countries such as India, Japan, and China. The research also analyzes regions including North America, Europe, Latin America, and MEA.
Frontrunners of the industry:
Leading market players analyzed in the research include Saudi White Cement Co., Cementir Holding SPA, Adana Cement, Çimsa Cement Industry and Trade Inc., Saveh White Cement Co., JK Cement, Federal White Cement, Cemex, Birla White (Ultratech), and the Cementos Portland Valderrivas. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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