Infrastructure Activities Bolster Global White Cement Market
Due to its high durability, low maintenance requirements and aesthetic look, white cement is widely used in the construction industry across the globe.
The global white cement market reached a value of more than $5 billion in 2018, registering a CAGR of 4.4% from 2011-2018, according to a recent research report by IMARC Group. White cement is a hydraulic binder made with China clay and chalk or limestone in a high-temperature process. It is characterized by a fine texture and distinct white color, which can depend on the manufacturing process and the quality of raw materials (manganese oxide and iron oxide) used in its production. White cement forms a paste when combined with water, which then sets and hardens. Due to its high durability, low maintenance requirements and aesthetic look, white cement is widely used in the construction industry across the globe.
The rising trend of migration from rural to urban areas has led to a shortage of urban housing in both developed and developing countries. In addition, the increasing number of nuclear families, inflating income levels and changing lifestyles have propelled the demand for modern houses, which has provided thrust to the white cement market. The increasing construction of public infrastructure, including roads, flyovers, airports, railway stations and shopping complexes, across emerging economies is also contributing to sales of white cement.
In addition to these trends, a significant rise in the tourism industry has also led to an increase in the construction of hotels, resorts and villas worldwide. Further, upcoming global events like the FIFA World Cup 2022 in Qatar and Dubai Expo 2020 are escalating the consumption of white cement in the Middle East. By 2024, the market is projected to reach a value of around $7 billion, growing at a CAGR of 5.2% from 2019-2024.
On the basis of applications, the market has been divided into the residential, commercial and infrastructure sectors. Among these, the commercial sector represents the largest application area, accounting for the majority of the total market share.
Based on product type, the market has been segregated into white Portland cement, white masonry cement and others. Currently, white Portland cement represents the most popular product type. In terms of geography, Asia-Pacific exhibits clear dominance in the market, holding the biggest share. Other major regions include Europe, Latin America, North America, and Middle East and Africa.
Additional details are available at www.imarcgroup.com.