After nearly a decade of subdued growth, India’s cement industry is heading towards better days ahead. A quicker-than-expected recovery in demand following the COVID-19 pandemic has put the cement sector on a high growth trajectory and domestic manufacturers are gearing up for the next growth cycle.
India’s cement industry is the world’s second largest after China. Being a vast country with a large geographical spread, India’s cement market is quite complex given the different terrains, weather conditions, availability of raw materials and transport system. With private players capturing nearly 98 per cent of market share, public sector companies have a negligible role to play. Despite being one country, the sector operates in five different markets: northern, southern, eastern, western and central, all of which have different pricing scenarios, and varied demand and supply situations amid various regional factors, making the country’s cement market truly dynamic. In fact, every pan-India cement maker ensures it has region-specific strategies to operate its business to stay relevant.
