Latin America Cement Industry Market Size & Forecast by Value and Volume Across 50+ Market Segments for Cement Products, Distribution Channel, Market Share, Import - Export, End Markets - Databook Q1 2024 Update

The cement industry in Latin America region is expected to grow by 3.3% on an annual basis to reach US$ 14.64 billion in 2024.

The cement market is expected to record steady growth over the medium term in Latin America. Several markets, including Brazil and Peru, are expected to experience growth in cement consumption in 2024. This is based on the various infrastructure projects undertaken by the regional governments. In Mexico, however, cement firms are projecting modest growth in 2024.

Innovation is also expected to gain momentum over the medium term in the Latin American region. Cemex, in February 2024, announced that the firm is adopting a new cement-making process. The method will reduce the firm's consumption of key intermediary ingredients, while also cutting down emissions. Overall, the publisher maintains a positive growth outlook for the Latin American cement industry over the next three to four years.

Cement consumption is projected to increase in different Latin American markets in 2024

Cement consumption, especially in markets like Brazil and Peru, is expected to increase compared to the last few years. The projection, in these markets, is based on the advances in infrastructure projects. In Brazil, the usage of cement has been on the rise in the construction of highways, as some of the state governments are implementing more use of rigid concrete pavement for asphalting roads and highways.

• According to a report by the National Cement Industry Union, cement sales increased by 12% year over year in April 2024, to reach 5.1 million tonnes, in Brazil. In comparison to March 2024, cement sales surged by 4%.
• In Peru, too, cement consumption is expected to increase compared to the last few years. Higher spending on infrastructure projects will drive cement sales over the medium term.

In Mexico, though, major cement producers are expecting modest growth in 2024. Budget reductions and the completion of infrastructure projects are expected to result in a decline in cement consumption compared to the last few years. The National Cement Chamber has forecasted a growth of 2% in cement consumption in 2024. With this, cement firms like Cemex are shifting their focus to other global markets, like Europe.

Mexico-based Cemex is adopting a new cement-making process to cut emissions and costs in 2024

Cemex, in February 2024, announced that the firm is adopting a new cement-making process. The method will reduce the firm's consumption of key intermediary ingredients, while also cutting down emissions.

• Cemex has introduced a process called micronizing, which involves finely grinding clinker - the heated combination of limestone and minerals that serves as an intermediary product in cement production. By micronizing the clinker along with a proprietary blend of chemical additives, Cemex will significantly reduce the amount of clinker required in its cement.

Typically, blended cement consists of about 73% clinker and 27% other components, such as gypsum, cementitious additions like fly ash and slag, and fillers like limestone, according to the firm’s research and development team. However, the team said that further reducing the clinker content usually compromises the strength of the cement. But by micronizing the clinker, the firm will be able to reduce the clinker content in the mix to around 50%, while maintaining the cement's strength. Cemex has revealed that the new formula's emission is lower by half compared to the benchmark. It is, therefore, expecting the industry to be receptive to the new blend.

Firms are investing in capacity expansion projects in different Latin American markets in 2024

The demand for cement is projected to increase over the medium term, especially in markets like Brazil. This has resulted in firms investing in capacity expansion projects in 2024. This trend is expected to gain momentum over the next few quarters.

• Supremo Secil Cimentos, in February 2024, announced an investment of US$20.3 million in expanding its cement plant in Adrianopolis. This expansion, slated to begin in July 2024, will boost the plant's clinker capacity by 10%. Furthermore, it will increase the plant's use of alternative fuels from the current 25% - 30% to 40%, with a goal of reaching 50% by 2030.
• In Mexico, where the firms are expecting modest growth, similar trends are emerging. Holcim, for instance, has announced an investment of US$55 million towards the construction of its new cement plant in February 2024. With this investment, the firm is seeking to strengthen its position in the Latin American market. The new grinding unit is being constructed in Macuspana, Tabasco.

Going forward, in Latin America, the publisher expects more cement manufacturers to invest in their plant expansion projects. This will aid the competitive landscape in the sector, while also supporting the broader industry growth over the next three to four years.

The medium to long term growth story in region remains intact. The cement industry in region is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 3.1% during 2024-2028. The cement output in the region is expected to increase from US$ 14.16 billion in 2023 to reach US$ 16.54 billion by 2028.

This market intelligence report provides a detailed view of market opportunities in the cement industry. With over 50+ KPIs, covering construction markets, distribution channel, end-user, and products in each country, this databook offering primarily provides data-centric analysis with charts and tables.

• Cement Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and cement opportunities in the various end-user segments.
• Distribution Channel: Provides an in-depth analysis of cement distribution channel across products at country level in value terms.
• Cement Products: Provides demand analysis of market by 4 key segments: Portland Cement, Blended Cement, Specialty Cement, and Green Cement. This segment also includes in depth analysis of further sub-segments of 8 cement product types.

The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.

This title is a bundled offering, combining the following 6 reports (174 tables and 274 charts):

• Regional Report - Latin America Cement Business and Investment Opportunities (2018-2028) Databook
• Country Report 1 - Brazil Cement Business and Investment Opportunities (2018-2028) Databook
• Country Report 2 - Argentina Cement Business and Investment Opportunities (2018-2028) Databook
• Country Report 3 - Chile Cement Business and Investment Opportunities (2018-2028) Databook
• Country Report 4 - Colombia Cement Business and Investment Opportunities (2018-2028) Databook
• Country Report 5 - Mexico Cement Business and Investment Opportunities (2018-2028) Databook

Scope

This databook offering provides a detailed data-centric analysis of the cement industry, covering market opportunity, and industry dynamics by cement products and end-user, construction market and distribution channel at country and regional level.

In addition, it also provides market size of the cement products and its demand analysis at regional and country level in Latin America. With over 50+ KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level.

Each regional and country databook provides the breakdown of the cement market as detailed below:

Cement Outlook: 10-year market size & forecast in value and volume

Cement Outlook by product type: 10-year market size & forecast in value and volume

• Portland cement
• Blended Cement
• Portland Cement
• Specialty Cement
• Green Cement

Cement Market by type of Portland Cement, 2019-2028

• Type IS (X), Portland-Slag Cement
• Type IP (X), Portland-Pozzolan Cement
• Type IL (X), Portland-Limestone Cement
• Type IT, Ternary Blended Cement

Cement Market by type of Specialty Cement, 2019-2028

• Rapid Hardening Cement
• High Alumina Cement
• White Cement
• Sulphate Resistant Cement
• Others

Cement Market by Key Markets, 2019-2028

• Residential Buildings
• Non-Residential Buildings
• Infrastructure & Other Markets

Cement Market by Distribution Channel, 2019-2028

• Direct Channel
• Indirect Channel

Cement Market by End-User, 2019-2028

• Ready-Mix Concrete Producers
• Consumers
• Concrete Product Manufacturers
• Other End Users

Cement Market Share by Key Players, 2023

Cement Market Top Import Destinations, 2023

Cement Market Top Export Destinations, 2023

Reasons to buy

With over 50+ KPIs at the country and regional level, this report provides comprehensive understanding of market dynamics at a more granular level.

• Provide In-depth Understanding of Cement Market Dynamics: Market opportunity, industry dynamics, key trends, restraints and drivers across 50+ market segments.
• In Detail Segmentation of Cement Product Analysis: This report provides demand analysis for four segments of the cement market (Portland, Blended, Specialty, Green) covering 8 cement products, end-users (residential, non-residential, infrastructure), and distribution channels.
• Develop Market-Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market-specific key trends, drivers, and risks in the cement industry.
• Market Share Analysis: Understand the competitive landscape by identifying key players and their market share.
• Import & Export Data: Gain insights into cement trade by knowing the top import and export destinations.