Global Cement Industry Report 2023: Expectations that the Asia-Pacific region will lead the recovery, European markets will increase investments to achieve net-zero goals, and manufacturers will expand their presence in the USA.

Dublin, June 24, 2024 (GLOBE NEWSWIRE) – A report titled "Size and Forecast of the Cement Industry Market by Value and Volume across More than 50 Market Segments, Including Cement Products, Distribution Channels, Market Shares, Import and Export, End Markets – Update for Q2 2023" is now available on ResearchAndMarkets.com. The forecasts indicate that the global cement industry will exhibit an annual growth rate of3.3%that will lead to reaching the mark of354.05 billion US dollarsIn 2023, the medium- and long-term growth prospects for the global cement market remain positive. It is expected that over the next four quarters, the cement industry will experience steady growth. This growth is anticipated to continue during the forecast period, with a compound annual growth rate (CAGR) of2.9%from 2023 to 2027. An increase in cement production volumes in the country is expected.342.87 billion US dollarsin 2022 until397.00 billion US dollarsby 2027.

The global cement industry is expected to recover in 2023, especially after the challenging year of 2022, when high energy prices and rampant inflation had a negative impact. The revival of China's economy and the policy measures announced by Beijing to stimulate the construction and real estate market will support cement consumption at the global level in the coming 12 months. Outside of China, moderate growth in cement demand is anticipated in India in 2023, driven by pre-election spending on infrastructure projects and the recovery of urban housing.

In the Middle East, an increase in government construction projects is expected, which will also support the demand for cement in the region. In Saudi Arabia, large-scale construction projects such as Neom are planned to boost cement consumption. In the United Arab Emirates, on the other hand, rapid growth in the tourism and residential sectors is anticipated, which will also contribute to an increase in cement demand over the next 12 months. Concerns about a potential recession in Europe and the United States may lead to a decrease in cement consumption in the short and medium term. Additionally, the consequences of the conflict between Russia and Ukraine, such as a sharp rise in cement prices, will also impact consumption in this region.

In 2023, the Asia-Pacific region is likely to become the driving force behind the recovery of the global cement industry. Although the construction sector remains under pressure from rising costs and inflation, an increase in activity in urban housing and infrastructure projects is expected, especially in countries like India and China. In the fourth quarter of 2022, China announced the implementation of a series of measures to support its struggling real estate and construction sectors. These measures include the allocation of29 billion US dollarsin the form of special loans aimed at assisting developers in completing suspended projects, as well as a credit policy focused on stimulating the sales of urban housing. These measures taken by Beijing are expected to positively impact cement consumption in China in 2023. In India, increasing government investments in infrastructure development will also affect the demand for cement in the Asia-Pacific region.

To meet the growing demand for cement, many manufacturers have already announced plans to expand production capacities over the next three to four years. However, other countries in the Asia-Pacific region may face negative consequences from rising inflation and energy prices, which, in turn, will affect government spending on infrastructure projects in 2023.

European countries are planning to increase investments in the cement sector to achieve their environmental goals of reducing carbon emissions. Many of them have stated their long-term objectives for reaching net-zero emissions and have begun implementing steps to meet these requirements. Since the cement industry is one of the main sources of carbon emissions, significant growth in investments for the development of innovative technologies and products in this area is expected over the next five years. For example, Germany has already announced its intention to increase investments in "green" cement. The Irish government has committed to reducing industrial carbon emissions. Both public and private companies are working in this direction – the Franco-German company Saint-Gobain, for instance, has extended its partnership with the cement manufacturer Ecocem, which has developed technologies to reduce carbon emissions, and Saint-Gobain is the holder of...25%Ecocem's shares, claiming that this technology can reduce emissions by70%To achieve decarbonization in the cement and concrete industry in Europe, innovative startups are also actively attracting funding: for example, the company Alcemy reported raising10 million eurosIn its Series A round, this German company is developing software aimed at helping cement and concrete manufacturers. Ongoing investments and support from government organizations will enhance competitiveness in the European cement market, which, in turn, will support industry growth in the medium and long term.

In the United States, cement manufacturers are striving to strengthen their positions in the local market to increase their share. In 2022, the volume of cement imports to the U.S. steadily increased, which is linked to the rise in public and private investments in construction projects across various sectors, including infrastructure and commerce. Forecasts indicate further growth in demand for cement in the United States in 2023. To take advantage of the growing trend of cement consumption in the North American market, cement manufacturers are taking various measures, such as opening new plants and engaging in mergers and acquisitions. In the second half of 2022, the German company Calucem announced plans to invest.35 million US dollarsThe construction of a new plant in the USA is part of the company's strategy to strengthen its position in the North American market. Another player, LafargeHolcim, is looking for acquisition opportunities to enhance its presence in the US market. Given that these global players are actively expanding their positions in the region, significant growth in the competitive environment of the cement market in the USA can be expected in the short to medium term.

This material is a unifying proposal that includes 21 reports:

• "Global Business Opportunities in the Cement Sector and Investments (2018-2027)";
• “Business opportunities in the cement sector in Argentina (2018-2027)”;
• “Business opportunities in the cement sector in Australia (2018-2027)”;
• “Business opportunities in the cement sector in Brazil (2018-2027)”;
• “Business opportunities in the cement sector in Canada (2018-2027)”;
• “Business Opportunities in the Cement Sector in China (2018-2027)”
• “Business opportunities in the cement sector in France (2018-2027)”;
• “Business opportunities in the cement sector in Germany (2018-2027)”;
• “Business Opportunities in the Cement Sector in India (2018-2027)”
• “Business Opportunities in the Cement Sector in Indonesia (2018-2027)”
• “Business opportunities in the cement sector in Italy (2018-2027)”;
• "Business opportunities in the cement sector in Kenya (2018-2027)"
• “Business opportunities in the cement sector in Mexico (2018-2027)”;
• “Business Opportunities in the Cement Sector in Nigeria (2018-2027)”
• “Business opportunities in the cement sector in the Philippines (2018-2027)”;
• “Business opportunities in the cement sector in Russia (2018-2027)”;
• “Business opportunities in the cement sector in South Africa (2018-2027)”;
• “Business opportunities in the cement sector in Thailand (2018-2027)”;
• “Business opportunities in the cement sector in the UAE (2018-2027)”;
• “Business opportunities in the cement sector in the UK (2018-2027)”;
• “Business opportunities in the cement industry in the USA (2018-2027).”

Each report covers various aspects: cement markets, such as residential construction, non-residential buildings, infrastructure, and other markets; end users of the products, including concrete manufacturers, consumers, producers of concrete products, and other users; distribution channels – both direct and indirect; types of cement, including Portland, blended, specialty, and "green" cement.

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