According to the latest report by IMARC Group, the global Portland cement market growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of around 4% during 2021-2026.
Portland cement is the basic ingredient used in concrete and is manufactured by heating and grinding a mixture of limestone and clay or shale. It is made up of four main compounds, namely, tricalcium silicate, dicalcium silicate, tricalcium aluminate, and tetra-calcium aluminoferrite. Portland cement is an excellent building material with exceptional binding properties, durability, strength and is relatively low-cost as compared to other building materials. It forms the backbone of the construction industry, wherein it is used in various structures such as bridges, dams, tunnels and lighthouses. It is utilized in mortar for plastering, masonry work, pointing, and the manufacturing of precast pipes, piles and fencing posts.
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Global Portland Cement Market Trends:
Over the years, with the rising number of construction and infrastructural activities, the demand for Portland cement has increased. Apar from this, the market growth is also being spurred by the specialty applications of the product. Portland cement is widely used in the construction of nuclear waste facilities and as a medium for protecting and controlling radioactive species. Besides this, oil-well cement, which is used for cementing work in the drilling of oil wells, usually consists of Portland cement with special organic retarders to prevent it from setting too quickly. Another major growth-inducing factor is the investment by governments of various nations in mega infrastructural projects, including the development of smart cities. Moreover, significant improvements have been made in the production process of cement to reduce the associated environmental impact, which is expected to influence the market positively.
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