Market overview
The global cement market is worth USD 367 bn in 2026 and is forecast to reach USD 493 bn by 2036, growing at a 3.0% CAGR. China is the largest country market and Portland cement is the largest by type segment.
| Scope | Hydraulic cement (Portland, blended and specialty) sold to concrete, mortar and construction users, valued at the mill and delivered price. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 360 bn |
| Value 2026 | USD 367 bn |
| Value 2036 | USD 493 bn |
| CAGR 2026-2036 | 3.0% |
| Volume 2026 | 4,141 million tonnes |
| Volume 2036 | 5,038 million tonnes |
| Average price 2026 | USD 88.7 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Cement market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 367 bn |
| 2027 | USD 378 bn |
| 2028 | USD 390 bn |
| 2029 | USD 401 bn |
| 2030 | USD 413 bn |
| 2031 | USD 426 bn |
| 2032 | USD 438 bn |
| 2033 | USD 452 bn |
| 2034 | USD 465 bn |
| 2035 | USD 479 bn |
| 2036 | USD 493 bn |
Cement market segmentation
By type
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Portland cement | 62.0% | 58.3% | USD 228 bn | 2.4% |
| Blended cement | 32.0% | 34.8% | USD 118 bn | 3.9% |
| Specialty and white cement | 6.0% | 6.8% | USD 22.0 bn | 4.4% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Residential | 38.0% | 37.4% | USD 140 bn | 2.8% |
| Commercial | 20.0% | 18.8% | USD 73.4 bn | 2.4% |
| Infrastructure | 30.0% | 32.5% | USD 110 bn | 3.8% |
| Industrial | 12.0% | 11.3% | USD 44.1 bn | 2.4% |
By strength class
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| 32.5 grade | 24.0% | 18.0% | USD 88.1 bn | 0.08% |
| 42.5 grade | 47.0% | 46.0% | USD 173 bn | 2.8% |
| 52.5 grade and above | 29.0% | 36.0% | USD 106 bn | 5.2% |
By packaging
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Bulk | 48.0% | 51.0% | USD 176 bn | 3.6% |
| Bagged | 46.0% | 42.0% | USD 169 bn | 2.1% |
| Integrated with ready-mix | 6.0% | 7.0% | USD 22.0 bn | 4.6% |
By production process
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Dry process | 84.0% | 87.0% | USD 308 bn | 3.4% |
| Semi-dry and wet process | 9.0% | 6.0% | USD 33.0 bn | -1.1% |
| Grinding-only | 7.0% | 7.0% | USD 25.7 bn | 3.0% |
Top 25 countries for cement by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 62.0% of 2026 revenue and the 25 countries below together hold 79.4%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 147 bn | 40.0% | USD 167 bn | 1.3% |
| 2 | India | USD 33.0 bn | 9.0% | USD 64.2 bn | 6.9% |
| 3 | United States | USD 9.2 bn | 2.5% | USD 12.3 bn | 3.0% |
| 4 | Vietnam | USD 6.6 bn | 1.8% | USD 9.4 bn | 3.6% |
| 5 | Indonesia | USD 6.2 bn | 1.7% | USD 9.4 bn | 4.2% |
| 6 | Turkey | USD 5.9 bn | 1.6% | USD 7.9 bn | 3.0% |
| 7 | Egypt | USD 5.5 bn | 1.5% | USD 8.4 bn | 4.3% |
| 8 | Brazil | USD 5.1 bn | 1.4% | USD 7.4 bn | 3.7% |
| 9 | Saudi Arabia | USD 4.8 bn | 1.3% | USD 7.9 bn | 5.2% |
| 10 | Iran | USD 4.4 bn | 1.2% | USD 5.9 bn | 3.0% |
| 11 | Pakistan | USD 4.3 bn | 1.2% | USD 6.0 bn | 3.4% |
| 12 | Bangladesh | USD 4.3 bn | 1.2% | USD 6.4 bn | 4.1% |
| 13 | Philippines | USD 4.3 bn | 1.2% | USD 6.4 bn | 4.1% |
| 14 | Japan | USD 4.3 bn | 1.2% | USD 5.2 bn | 2.0% |
| 15 | South Korea | USD 4.3 bn | 1.2% | USD 5.2 bn | 2.0% |
| 16 | Russia | USD 4.3 bn | 1.2% | USD 5.6 bn | 2.7% |
| 17 | Mexico | USD 4.3 bn | 1.2% | USD 5.6 bn | 2.7% |
| 18 | Thailand | USD 4.3 bn | 1.2% | USD 5.6 bn | 2.7% |
| 19 | Algeria | USD 4.3 bn | 1.2% | USD 6.0 bn | 3.4% |
| 20 | Iraq | USD 4.3 bn | 1.2% | USD 6.4 bn | 4.1% |
| 21 | Germany | USD 4.3 bn | 1.2% | USD 5.2 bn | 2.0% |
| 22 | Nigeria | USD 4.3 bn | 1.2% | USD 6.4 bn | 4.1% |
| 23 | Morocco | USD 4.3 bn | 1.2% | USD 6.0 bn | 3.4% |
| 24 | Poland | USD 4.3 bn | 1.2% | USD 5.6 bn | 2.7% |
| 25 | Australia | USD 4.3 bn | 1.2% | USD 5.6 bn | 2.7% |
| Rest of world | USD 75.6 bn | 20.6% | USD 107 bn | 3.5% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Anhui Conch Cement
- Holcim
- Heidelberg Materials
- CNBM
- Cemex
- UltraTech Cement
- China Resources Cement Holdings
Group 2: Regional and specialist players
- Taiheiyo Cement
- Votorantim Cimentos
- Adani Cement
- Buzzi
- Eagle Materials
- Vicat
- Huaxin Cement
- Shree Cement
- Taiwan Cement
- Jidong Development Group
Group 3: Emerging and niche players
- Dangote Cement
- Siam Cement Group
- Cementos Argos
- Dalmia Bharat
- Cimsa
- Cementos Pacasmayo
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the cement market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 3.0% is calculated from the resulting values.
The market is divided by type, by end use, by strength class, by packaging, by production process. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the cement market?
The global cement market is estimated at USD 360 bn in 2025 and USD 367 bn in 2026.
How fast will the cement market grow?
It is forecast to reach USD 493 bn by 2036, a compound annual growth rate of 3.0% from 2026, an increase of USD 126 bn.
Which country is the largest market for cement?
China is the largest market by revenue at USD 147 bn in 2026, 40.0% of the global total. The three largest countries together hold 51.5%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 6.9% a year from 2026 to 2036.
Which cement segment is largest?
In the by type split, Portland cement is the largest segment with 62.0% of 2026 revenue.
Who are the leading cement companies?
Global leaders include Anhui Conch Cement, Holcim, Heidelberg Materials, CNBM.
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