Net sales of leading cement companies in India FY 2023

In the financial year 2023, UltraTech Cement was the leading cement company in India, with net sales of 2.24 billion U.S. dollars. ACC Ltd. followed with net sales of 1.94 billion dollars. In terms of capacity, Ultratech was one of the largest producers of cement worldwide, with a capacity of over 100 million metric tons. 

India's position in the global cement market

India has solidified its position as the second-largest cement producer globally, with an output of 450 million metric tons in 2024. This places India far ahead of other major producers like Vietnam and the United States, though still significantly behind China's dominant production of nearly 1.9 billion metric tons. The strong performance of Indian companies like UltraTech Cement is further exemplified by its continuous revenue growth, reaching 698 billion Indian rupees in 2023. 

Global cement industry outlook

In 2024, the production volume of cement worldwide amounted to four billion metric tons. Meanwhile, the global cement demand volume is forecast to amount to 4.8 billion metric tons in 2026. The surge is largely driven by large infrastructure projects in Asia and Africa, as well as rising urbanization.