Florida. These three states were the destination of one third of U.S. cement shipments in both calendar years. US Cement Shipment and Import Trends. Imports of cement are an increasing proportion of overall supply due to constrained U.S. production.
With a growing number of industries and sectors moving toward net-zero emissions, a significant amount of value is at stake in cement. General EU Emissions Trading System (ETS) carbon prices have reached nearly €100 per metric ton of carbon dioxide, 3 a level that could become the norm by 2030.
Weakest cement markets are anticipated to be Turkey, China, and Europe, whereas the best cement markets in the world will be Sub-Saharan Africa (with a projected growth of +77% by 2030) and India (growth of +42%) and North America (+20%) in the foreseeable future.
World cement demand is forecast to increase by 4.65 per cent in 2021F and 2.45 per cent in 2022F, according projections released in the 14th Edition of The Global Cement Report™. The report also highlights a slowdown in capacity additions over the last two years.
1. Challenges and Cost Pressures: Post-Covid Reality for the Cement Industry. After the post-Covid-19 era, the cement industry faced a substantial surge in production expenses, with fuel, electricity, and international freight rates all experiencing double digit hikes.
The global cement market size was valued at USD 405.99 billion in 2023 and is projected to grow from USD 423.24 billion in 2024 to USD 592.38 billion by 2032, exhibiting a CAGR of 4.3% during the forecast period. Asia Pacific dominated the cement market with a market share of 73.66% in 2023.
Texas, Missouri, California, and Florida were the leading states in terms of cement production in 2021, having accounted for almost 44 percent of U.S. cement produced that year.
The comprehensive industry profile includes a market report that details the key drivers and challenges faced by the cement industry. The market trends and price trend analysis provide valuable information for stakeholders.
The path forward for the industry is clear: embrace digitization and sustainability. Putting these two trends at the core of planning for the future will help cement players catch up to those in other heavy industries and achieve considerable productivity gains.
The cement and concrete industry has established new targets to lower and even eliminate emissions, such as those set by the Global Cement and Concrete Association (GCCA). These targets aim for a 20 percent reduction of CO 2 per metric ton of cement and a 25 percent reduction of CO 2 per cubic meter of concrete by 2030 compared to 2020 levels.