According to a new research report by IMARC Group, titled “White Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global white cement market reached a value of more than US$ 5 Billion in 2018, registering a CAGR of 4.4% during 2011-2018. 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 upon 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. It is highly durable, requires low maintenance and provides an aesthetic look, owing to which white cement is widely used in the construction industry across the globe.
Market Trends:
The rising trend of migration from rural to urban areas has led to a shortage of urban housing in both the developed and developing countries. Moreover, 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. Additionally, the rising construction of public infrastructure including roads, flyovers, airports, railway stations and shopping complexes across emerging economies is contributing to the sales of white cement. Apart from this, 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 US$ 7 Billion, growing at a CAGR of 5.2% during 2019-2024.
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Global White Cement Market Summary:
Market by Application
1. Residential
2. Commercial
3. Infrastructure
On the basis of applications, the market has been divided into the residential, commercial and infrastructure sectors. Amongst these, the commercial sector represents the largest application area, accounting for the majority of the total market share.
Market by Type
1. White Portland Cement
2. White Masonry Cement
3. Others
Based on product types, the market has been segregated into white Portland cement, white masonry cement and others. Currently, white Portland cement represents the most popular product type.
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Market: Performance of Key Regions
1. Asia-Pacific
2. Middle East & Africa
3. Europe
4. North America
5. Latin America
On a geographical front, Asia Pacific exhibits a clear dominance in the market, holding the biggest share. Other major regions include Europe, Latin America, North America, and Middle East and Africa.
Competitive Landscape
Some of the key players operating in the market include Cementir Holding, Birla White (Ultra Tech), JK Cement, Cemex, Cimsa Cimento, Sotacib, Ras Al-Khaimah Co., Federal White Cement and Saveh White Cement Co.
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