India's Cement Industry - Building the Foundation for Future Growth
The Indian cement industry stands as a cornerstone of the nation's infrastructure development, playing a pivotal role in the country's economic growth. The Indian cement market size was valued at approximately INR 371,000 crore (US$ 45 billion) in 2022 and is projected to reach US$ 81.1 billion by 2030 at a CAGR of 5.7% . Cement Market Size Current State of the Indian Cement Industry India's cement sector is the second-largest in the world, second only to China. The industry has shown remarkable resilience and growth over the past decades. According to the Cement Manufacturers Association (CMA), India's cement production capacity stood at 545 million tonnes per annum (MTPA) in 2021, accounting for about 8% of global installed capacity. Key statistics highlighting the industry's significance Production: 294.4 million tonnes in FY 2021 (India Brand Equity Foundation, 2022) Capacity utilization: Around 60-70% in recent years Number of large cement plants: 210 (C