According to ConsTrack360, the cement industry in South Korea is expected to grow by 3.2% on an annual basis to reach US$8,027.1 million in 2024. The medium to long term growth story in country remai...
According to ConsTrack360, the cement industry in South Korea is expected to grow by 3.2% on an annual basis to reach US$8,027.1 million in 2024. The medium to long term growth story in country remains intact. The cement industry in country is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 2.7% during 2024-2028. The cement output in the country is expected to increase from US$7,777.3 million in 2023 to reach US$8,929.1 million by 2028. The South Korean cement industry is well-positioned for growth driven by government infrastructure investments, sustainability trends, and technological advancements. While challenges exist—such as raw material availability, regulatory compliance, and economic volatility—the industry is adapting through strategic partnerships, capacity adjustments, and innovative practices. As demand for sustainable construction materials increases, companies invest in green cement production and explore alternative materials that reduce carbon footprints. The integration of digital technologies further enhances operational efficiency and product quality. To maintain competitiveness and capitalize on growth opportunities, cement manufacturers in South Korea must continue investing in research and development, optimizing supply chains, and collaborating with stakeholders across the construction value chain. By addressing potential risks and embracing innovation, the industry can contribute significantly to national infrastructure development while meeting sustainability goals in the years ahead. Key Trends of Demand and Supply in the South Korean Cement Industry The South Korean cement industry is experiencing significant demand and supply trends shaped by various economic and infrastructural factors. • Infrastructure Investment: The need for cement mostly comes from big government spending on building roads and buildings. For example, in South Korea, they are working on improving their transportation and public places. This includes things like making the train system faster and building up cities. All of this means they need a lot of cement. • Sustainability Focus: The industry is prioritizing environmental protection by using eco-friendly practices. For instance, LG Chem is collaborating with local cement makers to produce environmentally friendly cement using recycled materials, aiding the country in achieving its environmental goals. • Market Competition: The cement industry in South Korea is very competitive, with many local and international companies trying to get more customers. Big companies like Hanil Cement and Ssangyong Cement are making more cement to keep up with the growing demand, but they also have to compete with cement being brought in from other countries. • Supply Chain Challenges: The industry continues to have problems getting the materials it needs and figuring out how to move them from place to place. Businesses are spending money on ways to improve their supply chains so that they can keep making things even when there are problems outside their control. Highlight Key Partnerships and Innovations by Companies Strategic partnerships and innovations are crucial for enhancing South Korean cement sector competitiveness. • Collaborations for Sustainable Solutions: Cement manufacturers are increasingly partnering with research institutions to advance sustainable technologies. For example, the collaboration between A TEC and Ssangyong Cement focuses on implementing a dust treatment unit that recycles waste materials from production processes, significantly reducing environmental impact. • Investment in Carbon Capture Technologies: LafargeHolcim and other companies are collaborating with technology firms to reduce carbon dioxide emissions and improve operations. • Digital Transformation Initiatives: Integrating digital technologies is reshaping the industry landscape. Companies are adopting IoT-enabled solutions for real-time monitoring of production processes, enhancing quality control and operational efficiency. This shift towards digitization is crucial for maintaining competitiveness in a rapidly evolving market. • Innovative Product Development: Companies are working on making new products that people need. For example, Hanil Hyundai Cement has made new eco-friendly concrete mixes that use different materials. This is because more and more people want building materials that are good for the environment. Factors Impacting Production Several critical factors significantly influence cement production in South Korea, shaping the industry's operational landscape. • Raw Material Availability: It is important to have enough limestone and clay to make cement. If we don't have enough, our plans can be messed up, and the process will be more expensive. • Regulatory Compliance: Companies need to use cleaner and more sustainable technologies because stricter rules about protecting the environment exist. They must change fast to comply with these rules and still keep their costs down. • Economic Conditions: The overall economic environment impacts construction activities and cement demand. Economic growth typically correlates with increased infrastructure spending, while downturns can lead to reduced construction activity. • Energy Costs: Fluctuating energy prices pose challenges for production costs. The cement industry relies heavily on energy-intensive processes, making it susceptible to energy availability and pricing changes. Projected Outlook for the Cement Market The South Korean cement market outlook over the next few years appears positive despite existing challenges. With ongoing government infrastructure investments expected to drive demand, the industry will likely experience steady growth. The emphasis on sustainability will further shape product offerings, pushing companies toward greener alternatives that align with national goals. As urbanization continues and population growth drives housing demand, the need for cement will increase correspondingly. Innovations to reduce carbon emissions will also play a critical role in maintaining competitiveness within the sector. While challenges exist, the combination of government support and industry innovation positions the market favourably for future growth. Potential Risks That Could Threaten Growth Despite a favourable outlook, several potential risks could threaten growth in the South Korean cement industry: • Rising Import Levels: An increase in imported cement could undermine local production efforts, leading to potential shortages and higher prices that may adversely impact construction projects. • Economic Volatility: Fluctuations in economic conditions can significantly affect construction activity levels. A downturn could reduce demand for cement as infrastructure projects are postponed or cancelled. • Environmental Regulations: While stricter regulations may drive innovation, they can also impose additional costs on producers who must invest heavily in compliance measures and cleaner technologies. • Supply Chain Disruptions: Problems with sourcing materials from all over the world and delivering them to where they're needed can make things more expensive and cause delays in product production. This market intelligence report from ConsTrack360 provides a detailed view of market opportunities in the cement industry. With over 50+ KPIs, covering construction markets, distribution channel, end-user, and products in South Korea, this databook offering primarily provides data-centric analysis with charts and tables. • Cement Market Dynamics: Provides a comprehensive data-centric view of size and structure, industry dynamics, and cement opportunities in the various end-user segments. • Distribution Channel: Provides an in-depth analysis of cement distribution channel across products at country level in value terms. • Cement Products: Provides demand analysis of market by 4 key segments: Portland Cement, Blended Cement, Specialty Cement, and Green Cement. This segment also includes in depth analysis of further sub-segments of 8 cement product types. ConsTrack360 research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
This databook offering provides a detailed data-centric analysis of the cement industry, covering market opportunity, and industry dynamics by cement products and end-user, construction market and distribution channel. In addition, it also provides market size of the cement products and its demand analysis in South Korea. With over 50+ KPIs at the country level, this report provides comprehensive understanding of market dynamics at a more granular level. South Korea Cement Outlook: 10-year market size & forecast in value and volume South Korea Cement Outlook by product type: 10-year market size & forecast in value and volume • Portland cement • Blended Cement • Portland Cement • Specialty Cement • Green Cement South Korea Cement Market by type of Portland Cement, 2019-2028 • Type IS (X), Portland-Slag Cement • Type IP (X), Portland-Pozzolan Cement • Type IL (X), Portland-Limestone Cement • Type IT, Ternary Blended Cement South Korea Cement Market by type of Specialty Cement, 2019-2028 • Rapid Hardening Cement • High Alumina Cement • White Cement • Sulphate Resistant Cement • Others South Korea Cement Market by Key Markets, 2019-2028 • Residential Buildings • Non-Residential Buildings • Infrastructure & Other Markets South Korea Cement Market by Distribution Channel, 2019-2028 • Direct Channel • Indirect Channel South Korea Cement Market by End-User, 2019-2028 • Ready-Mix Concrete Producers • Consumers • Concrete Product Manufacturers • Other End Users South Korea Cement Market Share by Key Players, 2023 South Korea Cement Market Top Import Destinations, 2023 South Korea Cement Market Top Export Destinations, 2023
• Comprehensive Analysis of Cement Market Dynamics: Gain an extensive understanding of the cement market by exploring opportunities, industry dynamics, key trends, and the factors driving and restraining growth across over 50 market segments. • Detailed Segmentation of Cement Products: This report delivers a thorough demand analysis for four primary segments of the cement industry (Portland, Blended, Specialty, Green), encompassing eight types of cement products, various end-users (residential, non-residential, infrastructure), and distribution channels. • Formulate Market-Specific Strategies: Identify lucrative growth segments and target specific opportunities to craft your strategy; evaluate key trends, drivers, and risks unique to the cement sector. • Competitive Landscape Assessment: Analyze market share by recognizing key players in the cement market and understanding their respective shares. • Insights into Import & Export Trends: Acquire valuable insights into the cement trade by identifying top import and export destinations.
1. About this Report 1.1 Introduction 1.2 Research Methodology 1.3 Definitions 1.4 Disclaimer 2. South Korea Cement Industry Dynamics and Growth Prospects 2.1 South Korea Cement Industry Market Size and Forecast By Value, 2019 – 2028 2.2 South Korea Cement Industry Market Size and Forecast By Volume, 2019 – 2028 3. South Korea Cement Market Dynamics by type 3.1 South Korea Market Share Trend Analysis by Type of Cement, 2019 – 2028 3.2 South Korea Portland cement Market Size and Forecast, 2019 – 2028 3.3 South Korea Blended Cement Market Size and Forecast, 2019 – 2028 3.4 South Korea Speciality Cement Market Size and Forecast, 2019 – 2028 3.5 South Korea Green Cement Market Size and Forecast, 2019 – 2028 4. South Korea Blended Cement Type Demand Analysis and Outlook 4.1 South Korea Market Share Trend Analysis by Blended Cement Type, 2019 – 2028 4.2 South Korea Type IS (X), Portland-Slag Cement Market Size and Forecast, 2019 – 2028 4.3 South Korea Type IP (X), Portland-Pozzolan Cement Market Size and Forecast, 2019 – 2028 4.4 South Korea Type IL (X), Portland-Limestone Cement Market Size and Forecast, 2019 – 2028 4.5 South Korea Type IT, Ternary Blended Cement Market Size and Forecast, 2019 – 2028 5. South Korea Speciality Cement Type Demand Analysis and Outlook 5.1 South Korea Market Share Trend Analysis by Speciality Cement Type, 2019 – 2028 5.2 South Korea Rapid Hardening Cement Market Size and Forecast, 2019 – 2028 5.3 South Korea High Alumina Cement Market Size and Forecast, 2019 – 2028 5.4 South Korea White Cement Market Size and Forecast, 2019 – 2028 5.5 South Korea Sulphate Resistant Cement Market Size and Forecast, 2019 – 2028 5.6 South Korea Other Cement Market Size and Forecast, 2019 – 2028 6. South Korea Cement Dynamics and Outlook by Distribution Channel 6.1 South Korea Market Share Trend Analysis by Distribution Channel, 2019 – 2028 6.2 South Korea Direct Distribution Channel Cement Market Size and Forecast, 2019 – 2028 6.3 South Korea Indirect Distribution Channel Cement Market Size and Forecast, 2019 – 2028 7. South Korea Cement Dynamics and Outlook by Markets 7.1 South Korea Market Share Trend Analysis by Cement Markets, 2019 – 2028 7.2 South Korea Cement in Residential Market Size and Forecast, 2019 – 2028 7.3 South Korea Cement in Non-residential Market Size and Forecast, 2019 – 2028 7.4 South Korea Cement in Infrastructure & Other Markets Size and Forecast, 2019 – 2028 8. South Korea Residential Cement Market Dynamics and Outlook 8.1 South Korea Market Share Trend Analysis by Residential Cement by Construction Stage, 2019 – 2028 8.2 South Korea Renovation in Residential Market Size and Forecast, 2019 – 2028 8.3 South Korea New construction in Residential Market Size and Forecast, 2019 – 2028 9. South Korea Non-Residential Cement Market Dynamics and Outlook 9.1 South Korea Market Share Trend Analysis by Non-Residential Cement by Construction Stage, 2019 – 2028 9.2 South Korea Renovation in Non-Residential Construction Market Size and Forecast, 2019 – 2028 9.3 South Korea New construction in Non-Residential Cement Market Size and Forecast, 2019 – 2028 10. South Korea Infrastructure & Other Cement Market Dynamics and Outlook 10.1 South Korea Market Share Trend Analysis by Infrastructure & Other Cement by Construction Stage, 2019 – 2028 10.2 South Korea Renovation in Infrastructure & Other Market Size and Forecast, 2019 – 2028 10.3 South Korea New construction in Infrastructure & Other Cement Market Size and Forecast, 2019 – 2028 11. South Korea Cement Dynamics and Outlook by End-User 11.1 South Korea Market Share Trend Analysis by Cement End-User, 2019 – 2028 11.2 South Korea Ready-Mix Concrete Producers Cement Market Size and Forecast, 2019 – 2028 11.3 South Korea Consumers Cement Market Size and Forecast, 2019 – 2028 11.4 South Korea Concrete Product Manufacturers Cement Market Size and Forecast, 2019 – 2028 11.5 South Korea Others Cement Market Size and Forecast, 2019 – 2028 12. South Korea Cement Market Share by Key Players, 2023 13. South Korea Construction Cement Import and Export Analysis by Countries 13.1 South Korea Top Cement Export Destinations, 2023 13.2 South Korea Top Cement Import Destinations, 2023
Table 1: South Korea Cement – Market Size by value (USD Million), 2019-2028 Table 2: South Korea Cement – Market Size by volume (Million Tons), 2019-2028 Table 3: South Korea Portland Cement – Market Size by value (USD Million), 2019-2028 Table 4: South Korea Portland Cement – Market Size by volume (Thousand Tons), 2019-2028 Table 5: South Korea Blended Cement – Market Size by value (USD Million), 2019-2028 Table 6: South Korea Blended Cement – Market Size by volume (Thousand Tons), 2019-2028 Table 7: South Korea Specialty Cement – Market Size by value (USD Million), 2019-2028 Table 8: South Korea Specialty Cement – Market Size by volume (Thousand Tons), 2019-2028 Table 9: South Korea Green Cement – Market Size by value (USD Million), 2019-2028 Table 10: South Korea Green Cement – Market Size by volume (Thousand Tons), 2019-2028 Table 11: South Korea Type IS (X), Portland-Slag Cement – Market Size (USD Million), 2019-2028 Table 12: South Korea Type IP (X), Portland-Pozzolan Cement – Market Size (USD Million), 2019-2028 Table 13: South Korea Type IL (X), Portland-Limestone Cement - Market Size (USD Million), 2019-2028 Table 14: South Korea Type IT, Ternary Blended Cement– Market Size (USD Million), 2019-2028 Table 15: South Korea Rapid Hardening Cement – Market Size (USD Million), 2019-2028 Table 16: South Korea High Alumina Cement – Market Size (USD Million), 2019-2028 Table 17: South Korea White Cement - Market Size (USD Million), 2019-2028 Table 18: South Korea Sulphate Resistant Cement – Market Size (USD Million), 2019-2028 Table 19: South Korea Other Cement – Market Size (USD Million), 2019-2028 Table 20: South Korea Direct Distribution Channel Cement – Market Size (USD Million), 2019-2028 Table 21: South Korea Indirect Distribution Channel Cement – Market Size (USD Million), 2019-2028 Table 22: South Korea Cement In Residential – Market Size (USD Million), 2019-2028 37 Table 23: South Korea Cement In Non-residential – Market Size (USD Million), 2019-2028 Table 24: South Korea Cement In Infrastructure & Other – Market Size (USD Million), 2019-2028 Table 25: South Korea Renovation in Residential Cement – Market Size (USD Million), 2019-2028 Table 26: South Korea New Construction in Residential Cement – Market Size (USD Million), 2019-2028 Table 27: South Korea Renovation in Non-Residential Cement – Market Size (USD Million), 2019-2028 Table 28: South Korea New Construction in Non-Residential Cement – Market Size (USD Million), 2019-2028 Table 29: South Korea Renovation in Infrastructure & Other Cement – Market Size (USD Million), 2019-2028 Table 30: South Korea New Construction in Infrastructure & Other Cement – Market Size (USD Million), 2019-2028 Table 31: South Korea Ready-Mix Concrete Producers Cement – Market Size (USD Million), 2019-2028 Table 32: South Korea Consumers Cement – Market Size (USD Million), 2019-2028 Table 33: South Korea Concrete Product Manufacturers Cement – Market Size (USD Million), 2019-2028 Table 34: South Korea Others Cement – Market Size (USD Million), 2019-2028
Figure 1: ConsTrack360 Research Methodology Figure 2: South Korea Cement – Market Size (USD Million), 2019-2028 Figure 3: South Korea Cement – Market Size (Million Tons), 2019-2028 Figure 4: South Korea Cement – Market Share Trend Analysis by Type of Cement (%), 2023 Figure 5: South Korea Portland Cement – Market Sizeby value (USD Million), 2019-2028 Figure 6: South Korea Portland Cement – Market Size by volume (Thousand Tons), 2019-2028 Figure 7: South Korea Blended Cement – Market Size by value (USD Million), 2019-2028 Figure 8: South Korea Blended Cement – Market Size by volume (Thousand Tons), 2019-2028 Figure 9: South Korea Speciality Cement – Market Size by value (USD Million), 2019-2028 Figure 10: South Korea Specialty Cement – Market Size by volume (Thousand Tons), 2019-2028 Figure 11: South Korea Green Cement – Market Size by value (USD Million), 2019-2028 Figure 12: South Korea Green Cement – Market Size by volume (Thousand Tons), 2019-2028 Figure 13: South Korea Market Share Trend Analysis by Blended Cement Type (%), 2023 Figure 14: South Korea Type IS (X), Portland-Slag Cement – Market Size (USD Million), 2019-2028 Figure 15: South Korea Type IP (X), Portland-Pozzolan Cement – Market Size (USD Million), 2019-2028 Figure 16: South Korea Type IL (X), Portland-Limestone Cement – Market Size (USD Million), 2019-2028 Figure 17: South Korea Type IT, Ternary Blended Cement– Market Size (USD Million), 2019-2028 Figure 18: South Korea Market Share Trend Analysis by Speciality Cement Type (%), 2023 Figure 19: South Korea Rapid Hardening Cement – Market Size (USD Million), 2019-2028 Figure 20: South Korea High Alumina Cement – Market Size (USD Million), 2019-2028 Figure 21: South Korea White Cement – Market Size (USD Million), 2019-2028 Figure 22: South Korea Sulphate Resistant Cement – Market Size (USD Million), 2019-2028 Figure 23: South Korea Other Cement – Market Size (USD Million), 2019-2028 Figure 24: South Korea Market Share Trend Analysis by Distribution Channel (%), 2023 Figure 25: South Korea Direct Distribution Channel Cement – Market Size (USD Million), 2019-2028 Figure 26: South Korea Indirect Distribution Channel Cement – Market Size (USD Million), 2019-2028 Figure 27: South Korea Market Share Trend Analysis by Cement Markets (%), 2023 Figure 28: South Korea Cement In Residential – Market Size (USD Million), 2019-2028 Figure 29: South Korea Cement In Non-residential – Market Size (USD Million), 2019-2028 Figure 30: South Korea Cement in Infrastructure & Other – Market Size (USD Million), 2019-2028 Figure 31: South Korea Market Share Trend Analysis by Residential Market by Construction Stage (%), 2023 Figure 32: South Korea Renovation in Residential Market Cement – Market Size (USD Million), 2019-2028 Figure 33: South Korea New Construction in Residential Cement – Market Size (USD Million), 2019-2028 Figure 34: South Korea Market Share Trend Analysis by Non-Residential Market by Construction Stage (%), 2023 Figure 35: South Korea Renovation in Non-Residential Cement – Market Size (USD Million), 2019-2028 Figure 36: South Korea New Construction in Non-Residential Cement – Market Size (USD Million), 2019-2028 Figure 37: South Korea Market Share Trend Analysis by Infrastructure & Other by Construction Stage (%), 2023 Figure 38: South Korea Renovation in Infrastructure & Other Cement – Market Size (USD Million), 2019-2028 Figure 39: South Korea New Construction in Infrastructure & Other Cement – Market Size (USD Million), 2019-2028 Figure 40: South Korea Market Share Trend Analysis by Cement End-User (%), 2023 Figure 41: South Korea Ready-Mix Concrete Producers Cement – Market Size (USD Million), 2019-2028 Figure 42: South Korea Consumers Cement – Market Size (USD Million), 2019-2028 Figure 43: South Korea Concrete Product Manufacturers Cement – Market Size (USD Million), 2019-2028 Figure 44: South Korea Others Cement – Market Size (USD Million), 2019-2028 Figure 45: South Korea Cement Market Share by Key Players, 2023 Figure 46: South Korea Top Cement Export Destinations, 2023 Figure 47: South Korea Top Cement Import Destinations, 2023
