India Cement Market growth to Grow with a CAGR of 8.04%
As the country experiences
rapid economic growth and urban migration, the demand for robust infrastructure
and modern urban living spaces has increased.
According to TechSci Research report, “India Cement
Market - By Country, Competition, Forecast and Opportunities, 2019-2029”,
The Indian market is increasingly demanding high-performance cement that can
withstand harsh operating conditions and offer better durability and strength. Cement manufacturers are adopting new technologies to
improve the performance and efficiency of their production processes. For
example, some manufacturers are using artificial intelligence (AI) and machine
learning (ML) to optimize their production processes. Cement manufacturers are increasingly focusing on
developing sustainable cement products and processes. For example, some
manufacturers are using recycled materials to produce cement and are investing
in renewable energy sources.
The Indian cement industry is a major contributor to
the country's economy. It employs over 1 million people directly and
indirectly. The industry also generates significant revenue for the government
through taxes.
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Some of the major investments and development in
Indian cement industry are as follows:
In July 2023, Shree Cement Ltd announced the
commencement of commercial production at its clinker grinding unit in Purulia
district of West Bengal having an annual cement capacity of 3 MT.
In June 2023, JSW Cement entered an agreement for a
sustainability-linked loan (SLL) with BNP Paribas, to secure approximately Rs.
414 crore (US$ 50 million). The capital raised through this agreement will be
utilised by JSW Cement to support its capacity expansions, aligning with its
long-term objective of achieving a cement-making capacity of 50 MTPA in India.
In May 2023, ACC launched Bagcrete, a hassle-free and
user-friendly concrete solution for all types of construction demands, which is
a pre-blended mixture of cement, sand, and aggregates.
In May 2023, Adani Group-owned ACC and Ambuja Cements
launched a modern Cement and Concrete R&D facility at Kalamboli at the
outskirts of Mumbai.
In May 2023, Dalmia Cement (Bharat) launched Dalmia
Supreme cement, a Portland pozzolana cement (PPC), in the Eastern India market.
In April 2023, Dalmia Bharat's wholly-owned material
subsidiary-Dalmia Cement (Bharat) commenced commercial production at its second
cement line at its Bokaro, Jharkhand Cement Works 2 (JCW2).
In April 2023, UltraTech Cement commissioned an
upgrade to its grinding plant at Patliputra in Bihar. The 2.2 million tonnes
(MT) per year upgrade brings the total capacity of the unit to 4.7 MT per year.
Ambuja Cements' parent company-Adani Group has said
that the cement producer aims to more than double its sales to USD 8.5 billion
in 2028. Ambuja Cements currently was expecting to record sales of USD 3.61
billion in 2023.
Dalmia Bharat plans to expand its footprint in
Central, Northern, and Western India through capital expenditure investments,
in order to reach a pan-India cement capacity of 54 MT/year by the end of FY24.
In December 2022, UltraTech Cement completed a
greenfield grinding capacity at the Dhule Grinding unit in Maharashtra with a
capability of 1.8 million tonnes per annum (MTPA).
In December 2022, UltraTech Cement commissioned a
second grinding capacity with a brownfield clinker of 1.8 MPTA capacity at Dhar
Cement Works in Madhya Pradesh.
In September 2022, a 6.7 Mega Watts ground-mounted
solar project was completed by Shree Cement Group in Haryana.
In August 2022, an integrated cement unit of 3 million
tonnes capacity is being set up in Andhra Pradesh. The project is estimated to
complete by Q2 of FY 2024-25.
Major companies operating in India Cement Market are:
- Ultratech Cement
- Ambuja Cement
- ACC Limited
- Shree Cement Limited
- Dalmia Bharat
- Birla Corporation Limited
- India Cement Limited
- The Ramco Cement Limited
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“The rising cost of raw materials, such as limestone
and coal, is a major challenge for the Indian cement industry. The Indian
government has implemented strict environmental regulations for the cement
industry. These regulations are aimed at reducing the industry's environmental
impact.
The residential segment accounts for the largest share
of the Indian cement market, followed by the commercial and industrial
segments. The infrastructure segment is expected to grow at the fastest rate in
the coming years, driven by government investments in roads, railways, and
other infrastructure projects.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“India Cement Market Segmented By Type (Portland,
Blended, and Other Types), By Application (Residential, Commercial,
Infrastructure, and Industrial and Institutional), By Region, By Competition
Forecast & Opportunities, 2019-2029”, has evaluated the future growth
potential of India Cement Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Cement
Market.
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