Top Five Cement Giants to Command 55% Market Share by 2025: ICRA Report

The market share of the top five domestic cement manufacturers could expand to 55% by March 2025 through organic and inorganic expansions, according to a report by rating agency ICRA. With healthy demand prospects, companies are set to increase their capacity, leading to further industry consolidation.

The top five domestic cement manufacturers are poised to expand their market share to 55% by March 2025, according to a recent report by rating agency ICRA. This growth is attributed to both organic and inorganic expansions, signifying further consolidation within the sector.

Driven by robust demand prospects, large cement companies are ramping up their capacities to sustain and increase their market dominance, the report reveals. The market share of these top players saw a significant rise to 54% as of December 2023 from 45% in March 2015, and this trend is expected to continue.

In addition to organic growth, cement companies are increasingly opting for mergers and acquisitions to quickly boost their capacity, leading to further consolidation in the industry. Major deals, such as the ACC and Ambuja acquisitions by the Adani Group, are highlighted as pivotal in this transition.