Rise in renovation and construction activities and government's spending on infrastructure projects are expected to drive the growth of the India cement market.

According to TechSci Research report, “India Cement Market -By Region, Competition, Forecast & Opportunities, 2028” India cement market is projected to grow at CAGR of 8.98% through 2028 to reach USD 43037.44 million by 2028.The Cement/concrete is the second-most-utilized product in the world after potable water. Based on application, residential is likely to dominate the market due to affordable housing schemes such as the Pradhan Mantri Awas Yojana (PMAY) with the market share of 50.01%. Based on type, India cement market is dominated by Ordinary Portland Cement (OPC) with a market share of 56.76% in 2022.

As estimated, more than 270 million people will be added to India's urban population by 2040. Even with such rapid urbanization on a massive scale, the proportion of India's population living in cities is anticipated to be less than 50% by 2040. Urbanization is driving a tremendous rise in total residential floor area, from less than 20 billion square meters today to more than 50 billion square meters in the next two decades.



India's economy is primarily reliant on the infrastructure sector. India's total economy depends on this industry. The infrastructure sector includes the construction of motorways, bridges, dams, power plants, and other types of urban infrastructure. The infrastructure industry is now the focus of the Indian government. India plans to invest USD1.4 trillion in infrastructure to safeguard the nation's long-term prosperity between 2019 to 2023. The government wants to spend USD 750 billion on rail projects between 2018 to 2030.
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