The White Cement Market size was estimated at over 18 million tons in 2020 and the market is expected to grow at a CAGR of more than 3% during the forecast period. The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in the construction industry, which is likely to affect the demand for white cement.

According to the Associated General Contractors of America (AGC), about 16% of the projects in the United States will experience a shortage of raw materials or equipment, 11% of the projects will see a shortage of craftworkers, including subcontractors, 18% of the projects will witness shortage of government workers, and 8% of the projects will be disrupted by an infected worker, which may have a potential to infect a worksite. Additionally, most of the countries, like India, Italy, France, Poland, the United Kingdom, South Africa, and New Zealand, went into lockdown. Moreover, owing to restrictive mass quarantines due to coronavirus, the construction industry has been impacted, as the workers kept themselves away from the project sites. In India, the construction workers are kept away from work sites, which has halted almost 20,000 ongoing projects in the country.

- Over the long-term, due to the growing construction industry in Asia-pacific and substitution of grey cement due to white cements superior characteristics will drive the market. For instance, there has been an increase in investments in the Chinese infrastructure sector in the recent past.
China transport ministry and National Development and Reform Commission (NDRC) invested ~USD 688.5 billion between 2016 and 2018, for constructing 303 key infrastructure projects, which include railways, highways, waterways, airports, and urban rail. A USD 4.5 billion worth of investments are being made to develop Nanhui New City, a planned city. Construction began in 2003 and is scheduled to be completed in 2020, and it aims to attract 450,000 residents and 10 million tourists annually.
- Increasing focus on innovation, and artistic and aesthetic senses in architecture is likely to act as an opportunity.

- High production cost is likely to restrain the market over the forecast period.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.

Key Market Trends

Increasing Demand for Infrastructure Segment

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- White cement is often used in combination with pigments, to impart attractive colors and shades to mortars and concretes, something which is not possible with ordinary grey cement, as it results in dull colors.
- White cement-based plasters are used for swimming pools and for covering facades, as they are highly durable and require lesser maintenance than painted surfaces. This aids the growth of the infrastructure segment of the market studied. Additionally, the development of smart cities is expected to provide a major boost to the market studied.

- The ability of white concrete to be cast in any shape makes it ideal for monuments, sculptures, and for the restoration of various archeological sites, across the world.
- Its high compressive strength reduces the costs, by eliminating steam curing, and increases the production speed in prefabricated applications.
- The chemical purity and uniformity of white cement are quite useful for application in many complex formulations of construction materials, such as insulation, water-tight coatings, anchorage, joint filers, mortars, and others.
- China is currently the world biggest producer and consumer of white cement. Cementir Holding SpA is currently the world biggest white cement manufacturer.
- With a total investment of CNY 47.14 billion, the expansion of Xianyang International Airport, with the aim of being able to handle 83 million passengers by 2030, is one of the major infrastructure projects in China.
- As a part of the ‘Investing in Canada Plan the government is in plans to make an investment of nearly USD 140 billion for major infrastructure developments in the country by 2028. Some of the major upcoming projects in Canada are Réseau électrique métropolitain (USD 6.3 billion), Toronto Eglinton Crosstown LRT (USD 5.3 billion), Gordie Howe International Bridge (USD 5.7 billion), etc.

- In March 2019, Bordeaux Airport launched its first major construction project of its new investment plan in France, which includes the expansion of Bordeaux-Merignac airport. The company planned an investment of EUR 140 million in the project, which may help increase the passenger handling capacity to 10 million in 2023, from 6.8 million in 2018.
- Various construction investments and projects have been halted during the first half of 2020, owing to the COVID-19 impact across various parts of the world. This has negatively affected the construction sector in 2020. However, with the easing of lockdown regulations and continuation of projects, investors have been focusing on investing in the sector.
- All the aforementioned factors are augmenting the growth of construction activities, thus, driving the demand for white cement.

China to Dominate the Asia-Pacific Region

- In Asia-Pacific, China is the largest economy, in terms of GDP. In 2019, the country witnessed about 6.1% growth in its GDP, despite having trade disturbance caused, due to its trade war with the United States. Currently, the growth rate of Chinese economy has been severely hit with the COVID-19 outbreak. According to IMF, the country economy is expected to slow down to 1.9% in 2020 while recovering to 8.2% growth in 2021.
- The country is one of the worst affected nation with the virus outbreak beginning in the country itself. All the major industries have taken a major hit, as the entire nation has gone into self-quarantine situation for around 72 days to contain the virus outbreak.
- The construction industry grew at a strong pace in 2019 (construction output value as shown in the graph), even though the growth slowed down during the year, compared to 2018. The construction sector has supported the economic growth in the country whenever major slowdown occurred.

- China13th Five Year Plan started in 2016 (2016-2021), and it was an important year for the country’s engineering, procurement, and construction (EPC) industries. In addition, the country ventured into new business models domestically and internationally, during the year. Although, the construction sector slowed down after 2013, it has still a major contributor to the GDP of the country witnessing steady growth in recent past.
- The infrastructure sector is an important pillar for the growth of any economy. The governments are taking various initiatives to ensure time-bound development of infrastructure.

- Even non-residential infrastructure sector is also expected to grow considerably. The aging population in the country is creating demand for the construction of healthcare facilities and new hospitals. The structural changes happening in the Chinese economy in the past few years as the service sector is taking larger and larger share in the total GDP has given rise to construction of huge commercial and office spaces.

- According to the National Bureau of Statistics of China, the country's industrial output went up 4.8 percent, faster than 4.4 percent expansion in May after slump in the first quarter. Overall in the first half of 2020, the industrial output fell by 1.3% mainly dragged down by 8.4% slump in the first quarter. This is expected to negatively affect the industrial expansion in turn effecting the industrial construction growth in the country in the current year.

- The local governments in the country are permitted to issue special bonds worth around CNY 3 trillion (USD 426.20 billion) in 2020, for funding infrastructure projects, including CNY 1 trillion, which is front-loaded to this year. Furthermore, the central bank is likely to ease its policy to lower the corporate funding costs and encourage lending. Besides, there are numerous airport projects in line for construction within the forecast period.

- As of May 2019 statistics, China holds around 235 airports, which the government plans to increase airports to 260 by 2020. In this regards, some of the airport construction projects, which are either in development or in the planning stage, include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Chongqing Jiangbei International Airport, Guangzhou Baiyun International Airport, and Xianyang International Airport expansion. Besides, the government’s long-term targets remain around 450 airports for the country by 2035.

- Hence, all such construction investments and projects planned in the country are projected to drive the domestic consumption of the white cement market over the forecast period.

Competitive Landscape

The white cement market is consolidated. Some of the major players include Cementir Holding N.V, Çimsa Çimento Sanayi ve Ticaret A.Ş, Aditya Birla (Grasim Industries Limited), Royal White Cement, and LafargeHolcim, among others.

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