Economy & Market
Cement market to grow at 9% CAGR in 2014-19
The cement market in India is expected to grow at a compound annual growth rate (CAGR) of 8.96 per cent in 2014-19, according to a report from Research and Markets. The industry is currently in a turnaround phase, trying to achieve global standards in production, safety and energy-efficiency.
The immense potential offered by the housing sector of the country is expected to drive the cement market. There is also increased government support and numerous infrastructure developments ongoing. With supply-side developments in technology, product range and capacity utilisation, the industry is expected to exhibit tremendous growth in the coming years.
The consolidation of the once-fragmented market is a major upcoming trend. Small and medium companies are entering into joint ventures to increase their respective market shares.