Asia Pacific Cement Industry Market Databook 2024 - Focus on Sustainability and Decarbonization is Poised to Grow Across the Asia Pacific Cement Industry - ResearchAndMarkets.com

The "Asia Pacific Cement Industry Market Size & Forecast by Value and Volume Across 50+ Market Segments for Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The Asia Pacific cement market is poised to record strong growth over the medium term. Cement sales are poised to increase across several regional markets, including in Vietnam, in 2024. This comes on the back of increased government spending on infrastructure projects over the medium term. To expand market share, firms are also seeking to expand their global footprint. The trend is expected to grow across the region in 2024.

Focus on sustainability and decarbonization is poised to grow across the Asia Pacific cement industry. The China Cement Association (CCA) and the Global Cement and Concrete Association (GCCA) also entered into a partnership in February 2024. The collaboration is aimed at reducing carbon emissions in the cement and concrete industry. Overall, the publisher maintains a positive growth outlook for the Asia Pacific cement industry over the next three to four years.

Vietnam's cement market is expected to post growth recovery in 2024

The cement industry is expected to record strong growth recovery in the Vietnamese market over the medium term. This is based largely on the measures adopted by the government, which include spending increasingly on key transport infrastructure projects and approval of many industrial and urban infrastructures. This, coupled with the expansion efforts of domestic cement firms in global markets like the United States, Australia, Latin America, and Africa, will also support the growth recovery of the cement market in 2024.

The industry is, however, expected to face resistance from regional import markets in the medium term. The Philippines, in particular, is expected to continue to impose temporary anti-dumping taxes on Vietnamese cement products. Other markets like Europe have also implemented carbon emission reduction mechanisms. This has had a negative impact on cement exports from Vietnam over the last few years. The Vietnam Cement Association, in response, has urged businesses to push their trade promotion activities to access more export opportunities.

Overall, a positive growth outlook is forecast for the Vietnamese cement market over the medium term, with public investment projects and infrastructure construction expected to drive sales in H2 2024.

Focus on sustainability and decarbonization is poised to grow across the Asia Pacific cement industry

The Indonesian Industry Ministry, in May 2024, announced plans to develop a roadmap for the cement market to achieve decarbonization by 2,050. Some of the key strategies in the roadmap include transitioning to alternative fuels, developing innovative technologies, and reducing the clinker-to-cement ratio. The industry is already making efforts to reduce emissions. Among the efforts include energy efficient measures using biomass energy and the adoption of technologies that facilitate decarbonization.

The China Cement Association (CCA) and the Global Cement and Concrete Association (GCCA) also entered into a partnership in February 2024. The collaboration is aimed at reducing carbon emissions in the cement and concrete industry. The partnership plan to release a roadmap in 2024. The roadmap will outline steps to achieve carbon neutrality in China's cement sector. The GCCA, which published a global net-zero roadmap in 2021, will help develop this new plan, working alongside Sinoma International Engineering and the European Cement Research Academy.

Cement firms are also increasing their focus on sustainability in the Asia Pacific region. In the Philippines, Holcim has announced an investment of US$35 million in April 2024. The investment is directed towards sustainability initiatives across its four plants over the next three years. The investment will include US$17.5 million for its waste management arm over the medium term.

Indian cement manufacturers are continuing with their capacity expansion plans in 2024

Over the next five years, the demand for cement is expected to rise significantly in the Indian market. The projections come at the back of increased infrastructure spending by the government, rapid urbanization, and the upsurge in the demand for commercial space across India. To meet the demand and aid business growth, cement firms are continuing with their capacity expansion plans in 2024.

• UltraTech Cement, for instance, revealed that the firm will be commissioning two new greenfield projects in India. Over the next three years, the firm is planning to invest INR 324 billion towards its capital expenditure. Over the medium term, the firm plans to have a total capacity of close to 200 mtpa.
• Adani Group, which entered the cement market in 2022, is also on track to take up its grinding unit capacities. The firm, across Ambuja, ACC, and Sanghi, plans to have a capacity of 140 mtpa by fiscal year 2028. The current capacity for the group stands at 78.9 mtpa. Under the ongoing capacity expansion plan, 35 new units are projected to come up.
• JK Cement is another firm that is seeking to expand its capacity in the Indian market. The firm incurred a capital expenditure of INR 11.7 billion in fiscal year 2024, and the outlay is expected to be around INR 18 to INR 19 billion over the next two fiscals.

The medium to long term growth story in region remains intact. The cement industry in region is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 2.8% during 2024-2028. The cement output in the Asia Pacific region is expected to increase from US$ 248.33 billion in 2023 to reach US$ 286.11 billion by 2028.

This market intelligence report provides a detailed view of market opportunities in the cement industry. With over 50+ KPIs, covering construction markets, distribution channel, end-user, and products in each country, this databook offering primarily provides data-centric analysis with charts and tables.

• Cement Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and cement opportunities in the various end-user segments.
• Distribution Channel: Provides an in-depth analysis of cement distribution channel across products at country level in value terms.
• Cement Products: Provides demand analysis of market by 4 key segments: Portland Cement, Blended Cement, Specialty Cement, and Green Cement. This segment also includes in depth analysis of further sub-segments of 8 cement product types.

Report Scope

This databook offering provides a detailed data-centric analysis of the cement industry, covering market opportunity, and industry dynamics by cement products and end-user, construction market and distribution channel at country and regional level.

In addition, it also provides market size of the cement products and its demand analysis at regional and country level in Asia Pacific. With over 50+ KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

Each regional and country databook provides the breakdown of the cement market as detailed below:

Cement Outlook: 10-year market size & forecast in value and volume

Cement Outlook by product type: 10-year market size & forecast in value and volume

• Portland cement
• Blended Cement
• Portland Cement
• Specialty Cement
• Green Cement

Cement Market by type of Portland Cement, 2019-2028

• Type IS (X), Portland-Slag Cement
• Type IP (X), Portland-Pozzolan Cement
• Type IL (X), Portland-Limestone Cement
• Type IT, Ternary Blended Cement

Cement Market by type of Specialty Cement, 2019-2028

• Rapid Hardening Cement
• High Alumina Cement
• White Cement
• Sulphate Resistant Cement
• Others

Cement Market by Key Markets, 2019-2028

• Residential Buildings
• Non-Residential Buildings
• Infrastructure & Other Markets

Cement Market by Distribution Channel, 2019-2028

• Direct Channel
• Indirect Channel

Cement Market by End-User, 2019-2028

• Ready-Mix Concrete Producers
• Consumers
• Concrete Product Manufacturers
• Other End Users

Cement Market Share by Key Players, 2023

Cement Market Top Import Destinations, 2023

Cement Market Top Export Destinations, 2023

For more information about this report visit https://www.researchandmarkets.com/r/kfedjc

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