Overview

• India's cement consumption is expected to rise from 445 MMTPA in FY23-24 to 670 MMTPA by 2030, reflecting a CAGR of 6-8%.
• Government infrastructure initiatives, such as the Smart Cities Mission and Bharatmala Pariyojana, are key drivers of demand growth.
• Industry consolidation continues, with major players like UltraTech and Ambuja acquiring smaller regional producers to expand capacity and improve efficiencies.
• South India, the largest cement-producing region, is a focal point for mergers due to its significant installed capacity of over 200 MMTPA.
• Volatility in raw material prices, including limestone and imported coal, poses a risk to profitability for cement producers.