Cement is the main constituent used in concrete production, which is the main material used in the construction of buildings, transportation facilities and infrastructure.
It is one of the most widespread and frequently used materials in the world, contributing to 5.4% of global GDP and 7.7% of global employment .
Global cement production is approximately 4.1 billion tons (2020) and is expected to reach 4.83 billion tons by 2030. In 1995, the total volume of cement production worldwide amounted to only 1.39 billion tons, which indicates the extent to which the construction industry has grown in recent years.
Today, China’s cement production amounts to 54% of the total cement manufactured worldwide, making China the world’s largest cement producer.
The global cement market is valued at 326 billion dollars (2021), while at the same time it is expected that the continuous increase in the global population and urbanization in the coming years will lead to a further grow in demand for the construction of both housing and infrastructure, such as hospitals and schools, but also transportation infrastructure (roads, bridges, ports, airports).
In Europe, cement production in the last decade has decreased significantly, in parallel to the economic crisis that occurred from 2008 onwards. In addition, the challenges and instability created in recent years – particularly with the recent developments of the energy crisis and the war in Ukraine – have slowed down the pace of development for both private and public construction projects.