According to a new report published by Allied Market Research, titled, "White Cement Market by Type and End Use: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global white cement market was valued at $6,569 million in 2016, and is projected to reach $8,305 million by 2023, growing at a CAGR of 3.4% from 2017 to 2023. The residential segment accounted for nearly half of the global market share in 2016.
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White cement is extensively used as an alternative to gray cement owing to its value-added properties such as its ability to reflect heat and improved aesthetic appearance. The demand for white cement is higher among countries with hot environment conditions as more heat is reflected from the resulting white concrete surface when compared to standard gray concrete. In addition, it also serves as a readily available concrete ingredient that works well in many applications. It offers aesthetic and performance benefits to pavements, buildings, and other structures. It is also demanding in countries with advanced economies, where it is often used for the construction of innovative buildings and future landmarks. Furthermore, white cement serves as an integral part in structural designing such as in high rise buildings, bridges, and parking structures.
At present, the global white cement market registers significant growth, owing to the increase in major applications of white cement for decoration. Moreover, growth in tradition of white buildings in countries such as Spain and Italy also augments the market demand. In addition, white cement-based prefabricated products such as tiles and pavers coupled with growth of tile industry have effectively helped to save time and labor, which further escalates the market growth. In addition, the need for buildings with distinctive style of vernacular architecture also boosts the production of global white cement. However, the lesser strength of white cement in comparison with ordinary Portland cement is expected to impede the market during the forecast period.
The residential segment is expected to account for nearly half of the global market, in 2016. Moreover, the main application areas include repairing and fixing along with tiles and white cement-based prefabricated products. In addition, the usage of white cement in residential segment also includes dry mixes, tiles & floorings, balustrades, banisters, and artifacts. The convenience in usage, quality, product range, and aesthetics majorly fuel the market growth.
Key Findings of the White Cement Market:
- In terms of value, the commercial end use segment is anticipated to exhibit the growth rate of 3.7% during the forecast period.
- Asia-Pacific is projected to dominate the global market until 2023, registering a CAGR of 4.6% in terms of value.
- The white Portland cement segment occupied maximum share of the global market in 2016.
- Spain occupied one-fourth share of the Europe white cement market in 2016.
- In terms of value, Denmark is expected to grow at a CAGR of 2.4% from 2017 to 2023.
In 2016, Asia-Pacific accounted for nearly half of the global white cement market, and is expected to continue this trend during the forecast period, owing to the rapid production and consumption of white cements, followed by LAMEA.
The major companies profiled in the report include Cementir Holding, Cimsa Cimento, JK Cement, Cemex, SOTACIB (65% Cementos Molins), Ras Al-Khaimah Company, Birla White (UltraTech), Federal White Cement, Saveh White Cement Company, and Cementos Portland Valderrivas.