Specialized Cement Market size is forecast to reach $ 65.89 Billion by 2025, after growing at a CAGR of 7.03% during 2020-2025. Specialized cement is used in applications involving complex degradation, high temperature and pressure support properties. It is used in oil wells and for building in residential and industrial areas. To change its properties, they have used additives such as glass or ceramic beads. The rapid urbanization, the rapid growth of infrastructure and the rising use of automobiles, particularly in APAC’s developing countries, continue to increase demand and penetration of specialized cement for end-users such as residential, commercial, and industrial and logistics.
Specialized Cement Market Segment Analysis – By Type
Oil Well Cement holds the largest share for Specialized Cement Market in 2019. Cement, the most commonly used building material in the world, is mainly valued as the primary component in concrete. And most forms of cement are oriented towards these varying and common requirements for housing. But in other sectors, there are also specialized cements that stretch beyond construction to fulfil essential needs. Oil-well cement, which is used by the oil industry for drilling oil and natural-gas wells, is one such commodity. It conforms to API Standard 10A for applications for well cementing. In well-cementing applications, it performs reliably at extremes of depth, temperature, and pressure. In conditions found in the drilling bore hole for oil discovery, oil well cements are used in the form of slurries-not used for structural concrete, although it can easily fulfil the OPC criterion. To shield casing from damage from surrounding water, oil well cement slurries are used; gives strength & prevents migration of fluid.
Specialized Cement Market Segment Analysis – By Application
Residential segment holds the largest share for Specialized Cement Market by growing at a CAGR of 8.1% during forecast period 2020-2025. The largest end-user market for Specialist Cement is the construction sector. In the middle-class housing market, the growing middle-class demographic, along with increased disposable incomes, has encouraged an increase. Thus, the usage of specialized cement is expected to increase within the segment during the forecast era. In India, the government launched the ‘Housing for All by 2022’ scheme, which is projected to dramatically drive the country’s low-cost residential construction segment over the forecast period. The building industry is the primary end-user market for Specialist Cement. The rising middle-class population, along with raised disposable incomes, has encouraged a rise in the middle-class housing market. During the forecast age, the use of specialized cement is thus projected to increase throughout the segment. The government initiated the ‘Housing for All by 2022’ scheme in India, which is expected to push the low-cost residential development segment of the country significantly over the forecast period.
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Specialized Cement Market Segment Analysis – By Geography
APAC dominated the Specialized Cement Market share with more than 52.3%, followed by North America and Europe. According to the International Monetary Fund, over the 2015-2020 projection period, economic growth in the APAC region is expected to be about 5.5 percent-6 percent. Over the next seven years, India is likely to see a USD 1.3 trillion investment in housing, with the world likely to see 60 million new homes being constructed. The supply of affordable housing in India is projected to grow by around 70 percent by 2024. A big game shift for the sector is the ‘Housing for Everyone by 2022’ of the Indian Government System. The rising need for infrastructure growth gives the building and construction industry in APAC a continuous impetus, which in turn propels the need for specialized cement in the architecture industry.
Specialized Cement Market Drivers
Specialized cement materials have been used in diverse fields of construction, such as residential housing, non-residential buildings, manufacturing, commercial and consumer industries. Based on the specifications, the goods used for these purposes differ. There has lately been a growing market for environmentally friendly building goods. Following this development, several businesses are pushing ahead with the introduction of high belite-content eco-friendly cements. Specialized cements are cements that serve unique functions such as adjusting concrete setting time, supplying architectural results of various colors, revealing greater capacity, imparting water retention and malleability to mortars, while also repelling water penetration in walls as well as reducing the cost of the cementing agent.
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Specialized Cement Market Challenges
Developing a realistic, stable, accurate and cost-effective method of specifying reliability through performance is a technical challenge. This include the advancement of test procedures, the relationship between test performance and structural performance, and the effect of common manufacturing deviations on the outcomes of standard studies. There are problems that are known about and remedies are available, but the specialized cement is still blighted. Both are the unregulated inclusion of on-site water and the inability to meet the minimum cover stated in the framework.
Specialized Cement Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Specialized Cement Market. In 2019, the market of specialized cement has been consolidated by the top five players accounting for xx% of the share. Major players in the Specialized Cement Market are Etex Group NV, Cemex, Mexico, The Siam Cement Public Company Limited, K C Maritime, Sinoma, Cembrit Holding A/S, CNBM, HeidelbergCement, CSR Limited, Holcim, LafargeHolcim, Anhui Conch Corporation, Vorantim Cementos, China National Building Materials Corporation and among others.
Some of the factors driving industry growth are the growing demand for specialty cement from the manufacturing and construction industries and rapid urbanization.
Furthermore, one of the key reasons favoring the demand during the projected period is the growing use of cement from developing countries such as India, the US, China and Saudi Arabia.
Rapid urbanization, rapid growth of infrastructure and rising usage of vehicles, particularly in APAC’s developing countries, continue to increase demand for and increase the penetration of specialized cement for end users such as residential, commercial, industrial and infrastructure.
However, the end use industries are being significantly affected due to the COVID-19 pandemic, as most of the countries have issued “stay at home guidance” i.e., lockdown. This factor is limiting the market growth in current situation.
Related Reports :
A. Cement & Cement Additives Market
B. Cement Accelerators Market
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