<span class="entry-title-primary">Indian Cement Market | India Cement Industry Report | Business Forecast by 2024</span> <span class="entry-subtitle">Indian Cement Market CAGR is to Reach 3.83% by 2024</span><span class="rating-result after_title mr-filter rating-result-45855">			<span class="no-rating-results-text">No ratings yet.</span>		</span>
Indian Cement Market Report
Indian Cement Market | India Cement Industry Report | Business Forecast by 2024 Indian Cement Market CAGR is to Reach 3.83% by 2024

India accounts for ~8% of the global cement production installed capacity. In FY 2018, India held the second position in the global cement industry, with a production volume of 297.56 Mn tons in comparison to China’s 2170 Mn tons. The cement industry in India is supported by high FDI. During the April 2000-March 2019 period, FDI in the cement and gypsum products industry was INR 369.38 Bn.

Market insights:

The production of cement in India is expected to reach 410.21 Mn tons by FY 2024, expanding at a compound annual growth rate CAGR of ~3.83% during the FY 2019-FY 2024 period, owing to rising demand from the government and housing contractors. Cement consumption is anticipated to increase at a CAGR of ~4.38% during the forecast period owing to the sanction of schemes for improving roads and highways connectivity and housing facility-related programs, and growing demand from the commercial real estate sector. The major players operating in the Indian cement industry include UltraTech Cement Limited, Ambuja Cements Limited, JK Lakshmi Cement, and Ramco Cements Limited.

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Market segment insights:

Among the major Indian states, the southern states of Tamil Nadu, Andhra Pradesh, and Karnataka together accounted for the highest cement production installed capacity of ~35% in FY 2018, followed by the northern states Rajasthan, Punjab, and Haryana, which collectively accounted for ~23% of the total installed capacity.

Out of the different end-user industries of cement, the housing segment accounted for the highest demand in FY 2018. Within this, ~38% demand was generated by the rural housing sector, followed by the urban housing sector ~32%. Such high demand for cement from the housing sector may be attributed to the fast execution of affordable government housing schemes like Pradhan Mantri Awas Yojna, and Housing for All by 2022. Apart from housing, commercial and industrial investments, the infrastructure segment accounted for a considerable demand for cement in India.

Key growth drivers of the market:

  • To develop the country’s infrastructure, the Indian government has undertaken several projects related to the construction of roads and highways, both in the rural and urban areas, along with the development of industrial hubs in different parts of the country. These schemes and initiatives are together expected to drive the growth of the Indian cement industry since it is one of the primary materials for the successful execution of such projects.
  • Essential minerals used for manufacturing cement, which includes limestone calcium, bauxite aluminum, iron ore, and coal, are available in abundance in different parts of India. This has resulted in zero or low cost of import of raw materials for cement manufacturers, thus making cement businesses profitable in India. As a result, cement manufacturing has increased steadily, driving the supply side of the Indian cement industry over the years.

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Key deterrents to the growth of the market:

  • Many major cement companies in India have increased their production capacity at a considerable rate over the past few years, relying mainly on government support. However, the rate of cement production has not risen at the same pace as compared to capacity expansion during the same period. This gap between installed capacity and actual production is mainly due to delays in the processes related to awarding of construction projects and decision-making regarding commencement dates, acquisition of land for construction projects, etc., at government offices, mostly for the execution of roads and highways construction projects and smart city development projects. As a result, continuous demand for cement has dropped, thus rendering parts of newly installed production capacities idle. Eventually, plant maintenance costs would increase because of excess production capacity, leading to a rise in the per capita price of cement across India.

Companies covered

  • ACC Limited
  • Ambuja Cements Limited
  • K. Cement Limited
  • Jaiprakash Associate Limited – Jaypee Group
  • JK Lakshmi Cement Limited
  • Orient Cement
  • The Ramco Cements Limited
  • Shree Cement Limited
  • The India Cements Limited
  • UltraTech Cement Limited

If we are missing any of the companies which you are looking for or you have to ask anything else, please send us your query regarding this topic by clicking @ Enquire Now

Table of Content Covers the Topics mentioned below

  1. Executive summary
  2. Socio-economic indicators
  3. Introduction
  4. Market overview
  5. Trade analysis
  6. Market influencers
  7. Competitive landscape
  8. Appendix

Customization of this Report can be done as per the client’s requirement.

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