Global cement market shifts toward India and Africa

The global cement market is undergoing a significant geographical shift as demand moves from mature economies toward emerging markets. While China remains the world's largest producer, its output has faced a sustained contraction due to a slowdown in property construction and excess capacity. In contrast, India is seeing substantial growth, with production increasing to approximately 491.4 million tons in FY26, supported by urban development and infrastructure projects.

Africa is emerging as a global leader in new capacity, accounting for 42% of all cement production capacity currently under construction worldwide. Driven by rapid urbanization and massive infrastructure projects, nations such as Nigeria and Kenya are investing heavily in new plants. This expansion is expected to lift the continent's annual capacity from 441 million to over 500 million tons, potentially fueling broader industrialization and increased energy demand across the region.