- Global cement market to hit $686.41 billion as Asia Pacific leads growth
International statistics showed that the global cement market size in 2023 was valued at USD 491.80 billion. The market was projected to grow from USD 505.97 billion in 2024 to USD 686.41 billion by 2032, showing a CAGR of 3.9 percent during the forecast period. In 2023 Asia Pacific dominated the cement market with a market share of 62.54 percent. Moreover, the cement market size in the US is projected to grow significantly; reaching an estimated value of USD 17.71 billion by 2032, driven by adoption of modern and advanced practices by the construction industry including precast concrete and 3D concrete printing will further boost cement consumption.
In Pakistan, the cement industry has witnessed a substantial rise in production capacity over the years, rising from 45.62 million tons in FY2016 to 84.58 million tons in FY2025. This expansion reflects significant investment and growth potential within the sector. However, capacity utilization declined notably from a peak of 94.4 percent in FY 2018 to just 52.97 percent in the fiscal year, mainly because of sluggish domestic demand. The slowdown in construction activity is largely attributed to high input costs which have constrained private sector construction. Amid subdued domestic demand, the cement industry has increasingly shifted its focus toward international markets. Exports registered a notable upward trend, reflecting the industry’s resilience and adaptability. This growth underscores Pakistan’s competitive edge in regional and global markets, mainly as economic conditions in neighboring countries stabilize and construction demand picks up.
According to the All Pakistan Cement Manufacturers Association (APCMA), total cement despatches in April 2025 reached at 3.342 million tons, marking a 13.24 percent increase as against to 2.951 million tons in April 2024. Local cement despatches grew by 7.64 percent year-on-year (YoY), standing 2.516 million tons from 2.337 million tons. Export despatches registered a stronger growth, climbing by 34.56 percent to 826,457 tons from 614,214 tons in April 2024.
Region-wise statistics showed that cement mills in the North despatched 2.239 million tons in April 2025, up 7.22 percent from 2.088 million tons in the same month last year. Southern mills despatched 1.10 million tons, reflecting a 27.81percent increase from 863,327 tons in April 2024.
Domestically, North-based mills supplied 2.124 million tons in April 2025, an increase of 9.39 percent over the 1.942 million tons registered a year earlier. In contrast, South-based mills saw a marginal dip of 0.95 percent in local sales, with 391,445 tons despatched as against to 395,199 tons in April 2024.
Sources recorded that the Northern mills registered a 21.64 percent fall, with exports falling to 114,467 tons from 146,086 tons. Southern mills, however, recorded a sharp rise of 52.09 percent, with exports rising to 711,990 tons from 468,128 tons in April 2024.
In the first ten months of the fiscal year (July 2024–April 2025), total cement despatches both domestic and export reached at 37.336 million tons, slightly down by 0.32 percent from 37.454 million tons in the corresponding period last year. Domestic despatches dropped by 5.55 percent, falling to 29.978 million tons from 31.740 million tons, while exports surged by 28.77 percent to 7.359 million tons from 5.714 million tons. North-based mills supplied 24.915 million tons to domestic markets in the ten-month period, reflecting a 4.82 percent drop from 26.178 million tons in the same period last year. Northern exports grew 4.13 percent to 1.234 million tons from 1.185 million tons. Total despatches from North fell by 4.44 percent to 26.150 million tons. In the South, domestic despatches declined by 8.98 percent to 5.062 million tons, down from 5.562 million tons. However, exports from the region surged by 35.22 percent to 6.124 million tons from 4.529 million tons, bringing total despatches to 11.186 million tons, a 10.86 percent rise from 10.091 million tons in the corresponding period last year.
APCMA also recorded that the healthy rise in exports was encouraging, but low domestic consumption remained a major concern, with nearly one-third of production capacity lying idle. The government of Pakistan to launch industry-friendly initiatives in the upcoming federal budget to stimulate construction activity and improve the global competitiveness of Pakistani cement, creating further export opportunities. No doubt, cement is an important material in the construction industry. It acts as a binder between the surfaces of bricks, stones, and panels. It is generally a fine powdery substance manufactured using limestone, clay, sand, iron ore, and bauxite. The rising population has increased the need for residential buildings, driving the need for cement manufacturing across the globe. Additionally, the growing demand for non-residential buildings and public infrastructure, including healthcare centers and hospitals, has led to opportunities for product consumption. Hence, the rising demand from the expanding construction sector is presently one of the key market trends. The spread of the Covid-19 pandemic negatively impacted the market owing to government regulations that limited the movement of people and goods.