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white-cement-market-size-worth-15-2-billion-by-2033-at-4-2-cagr-2024-2033
The rise in development in architectural and decorative construction industry is expected to boost the demand for white cement globally.
PORTLAND, OREGON, UNITED STATES, June 19, 2024 /EINPresswire.com/ — Allied Market Research published a report, titled, “White Cement Market by Type (White Portland Cement, White Masonry Cement, Others) and End Use (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “white cement market” was valued at $10.1 billion in 2023, and is estimated to reach $15.2 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033.
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The global white cement market is experiencing growth due to several factors such as rapid demand for aesthetics in the construction industry and rapid urbanization. However, the higher cost of white cement hinders market growth to some extent. Moreover, sustainable construction practices present additional opportunities for PVC additives. In addition, ongoing innovation in white cement technology opens further opportunities for product diversification and market expansion. Manufacturers are continuously developing new formulations, additives, and production techniques to improve product performance, enhance durability, and reduce environmental footprint. By staying at the forefront of innovation, white cement manufacturers capitalize on emerging trends and evolving customer preferences to drive market growth.
White Portland cement segment to maintain its dominance by 2033.
By type, the white Portland cement segment held the highest market share in 2023, accounting for more than two-thirds of the global white cement market revenue and is estimated to maintain its leadership status throughout the forecast period. White Portland cement has aesthetic appeal and versatility in architectural and decorative applications. Its bright white color provides a pristine canvas for architectural designs, enabling the creation of visually striking structures and surfaces. Architects, designers, and builders prefer white cement for projects where aesthetics play a crucial role, such as high-end residential buildings, commercial spaces, and historical restoration projects. All these factors drive the demand for the white Portland cement segment in the white cement market during the forecast period.
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Residential segment is expected to lead the trail by 2033.
Based on the end use, residential segment held the highest market share in 2023, accounting for less than half of the global white cement market revenue and is estimated to dominate during the forecast period. White cement offers exceptional flexibility in design, enabling the creation of bespoke features tailored to individual preferences. Its adaptability to various finishes such as polished, textured, or stained, allows for the realization of diverse design concepts, ranging from minimalist to lavish. This versatility drives creativity and innovation that empowers architects, and designers to explore new possibilities in residential construction and renovation projects.
Asia-Pacific is expected to grow faster throughout the forecast period.
Based on region, Asia-Pacific is the fastest growing region in terms of revenue in 2023 representing 4.5% of the CAGR. Rapid urbanization and infrastructure development in Asia-Pacific region drive the demand for the white cement during the forecast period. As countries such as China, India, and Southeast Asian nations continue to experience population growth and urban expansion, there is a heightened need for high-quality construction materials such as white cement. In addition, white cement has aesthetic appeal and versatility that make it particularly attractive for modern architectural designs, urban landscaping, and luxury infrastructure projects.
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Leading Market Players: –
Cementir Holding SPA
Çimsa Cement Industry and Trade Inc.
JK Cement
Cemex
The Cementos Portland Valderrivas
Birla White (Ultratech)
Federal White Cement
Saveh White Cement Co
Adana Cement
Saudi White Cement Co
The report provides a detailed analysis of these key players in the global white cement market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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June 19, 2024
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