The emerging trends in the cement industry in India in 2023

The emerging trends in the cement industry in India in 2023

India is one of the fastest-growing markets and the trend is projected to continue over the next five years. This growth is largely driven by the initiatives undertaken by the central government in India. From an increasing focus on digitalization to enhancing the infrastructure of the country, the government has increased its spending on different sectors over the last few years. For 2023, as well, the government has announced increased spending on infrastructure development and affordable housing programs.

Construction-related sectors

Construction-related sectors

These initiatives from the government are expected to aid the growth of other construction-related sectors, such as cement, in 2023. The cement demand has picked up pace in Q1 2023 and the trend is projected to further continue in Q2 and Q3 2023, which are usually seen as the peak season for the cement market in India. As a result of the growing demand for cement over the next couple of quarters, ConsTrack360 expects cement prices to also increase across the country.

According to the United States Census Bureau, more This trend is in line with the expectations of various cement manufacturers in India. The growing demand, coupled with an increase in cement prices, is expected to lead to double-digit growth for major cement manufacturers, such as JK Cement, Shree Cement, and UltraTech Cement, in 2023.

Alongside the growing investment in the development of modern-age infrastructure, the focus of the government on urban housing is also expected to aid the demand for cement in India from the short to medium-term perspective. Cement consumption is also projected to increase in Tier III and IV cities, as more and more people are seeking improved living conditions, leading to a higher rate of home renovations even in the rural areas of India. This is an interesting development for cement manufacturers, as this shows that there is a growing demand to capitalize outside Tier I and II cities.

Prefab housing developers are foreseeing significant growth opportunities in the United

States in 2023

This trend can aid further growth for cement manufacturers that are willing to increase their investment in the smaller markets of India. From the short to medium-term perspective, ConsTrack360 also expects cement manufacturers to expand their distribution network, as part of their strategy to focus on Tier III and IV cities of India.

The rise in cement consumption is also expected to lead to higher investment from cement manufacturers in expanding their production capacity. UltraTech Cement, Shree Cement, and Dalmia Bharat are among the many players that have announced production capacity expansion, and many more are expected to follow suit in 2023, to capitalize on the growing market.

This trend can aid further growth for cement manufacturers that are willing to increase their investment in the smaller markets of India. From the short to medium-term perspective, ConsTrack360 also expects cement manufacturers to expand their distribution network, as part of their strategy to focus on Tier III and IV cities of India. The rise in cement consumption is also expected to lead to higher investment from cement manufacturers in expanding their production capacity. UltraTech Cement, Shree Cement, and Dalmia Bharat are among the many players that have announced production capacity expansion, and many more are expected to follow suit in 2023, to capitalize on the growing market.