Global Cement Market Reached $305B, With China Leading the Expansion

IndexBox has just published a new report: 'World - Cement - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The global cement market revenue amounted to $305.4B in 2018, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.0% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.

Consumption By Country

China (2,363M tonnes) remains the largest cement consuming country worldwide, accounting for 58% of total volume. Moreover, cement consumption in China exceeded the figures recorded by the second-largest consumer, India (289M tonnes), eightfold. The third position in this ranking was occupied by the U.S. (101M tonnes), with a 2.5% share. From 2007 to 2018, the average annual growth rate of volume in China totaled +5.2%.

Production 2007-2018

In 2018, the global cement production totaled 4,072M tonnes, growing by 1.8% against the previous year. The total output volume increased at an average annual rate of +3.6% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.

In value terms, cement production amounted to $289.7B in 2018 estimated in export prices. The total output value increased at an average annual rate of +2.6% from 2007 to 2018.

Production By Country

The country with the largest volume of cement production was China (2,370M tonnes), accounting for 58% of total volume. Moreover, cement production in China exceeded the figures recorded by the second-largest producer, India (290M tonnes), eightfold. The U.S. (89M tonnes) ranked third in terms of total production with a 2.2% share.

Exports 2007-2018

In 2018, the amount of cement exported worldwide amounted to 113M tonnes, picking up by 12% against the previous year. In value terms, cement exports stood at $8.1B (IndexBox estimates) in 2018. Over the period under review, cement exports, however, continue to indicate a slight decline.

Exports by Country

In 2018, China (7,314K tonnes), Germany (6,242K tonnes), Canada (6,241K tonnes), Vietnam (6,196K tonnes), the United Arab Emirates (5,592K tonnes), Turkey (5,484K tonnes), Pakistan (4,190K tonnes), Greece (4,036K tonnes), Spain (3,657K tonnes), Japan (3,233K tonnes), Senegal (3,028K tonnes) and Slovakia (2,503K tonnes) were the main exporters of cement exported in the world, generating 51% of total export.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the United Arab Emirates, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average cement export price stood at $72 per tonne in 2018, remaining relatively unchanged against the previous year. In general, the cement export price continues to indicate a relatively flat trend pattern. Prices varied noticeably by the country of origin; the country with the highest price was Germany ($83 per tonne), while Greece ($49 per tonne) was amongst the lowest.

Imports 2007-2018

In 2018, the amount of cement imported worldwide stood at 122M tonnes, going up by 11% against the previous year. The total import volume increased at an average annual rate of +2.1% from 2007 to 2018. In value terms, cement imports stood at $8.9B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +1.2% from 2007 to 2018.

Imports by Country

In 2018, the U.S. (14M tonnes), followed by Sri Lanka (6,687K tonnes) represented the main importers of cement, together comprising 17% of total imports. China, Hong Kong SAR (5,399K tonnes), the Philippines (4,652K tonnes), Oman (4,509K tonnes), Singapore (4,382K tonnes), France (3,859K tonnes), the UK (3,430K tonnes), the Netherlands (3,320K tonnes), Palestine (2,706K tonnes), Cambodia (2,479K tonnes) and Mali (2,292K tonnes) followed a long way behind the leaders.

Imports into the U.S. increased at an average annual rate of +1.8% from 2007 to 2018. The Philippines (+3.8 p.p.), Sri Lanka (+3.8 p.p.), China, Hong Kong SAR (+3.4 p.p.), Oman (+3.4 p.p.), the U.S. (+2.1 p.p.) and Cambodia (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

Import Prices by Country

In 2018, the average cement import price amounted to $73 per tonne, rising by 1.9% against the previous year. Overall, the cement import price, however, continues to indicate a relatively flat trend pattern. Prices varied noticeably by the country of destination; the country with the highest price was the Netherlands ($101 per tonne), while Singapore ($45 per tonne) was amongst the lowest.

Companies Mentioned

LafargeHolcim

Anhui Conch Cement Company Limited

China National Building Materials (CNBM)

China Resources Cement Holdings

HeidelbergCement AG

Cemex, S.A. de C.V.

Saint-Gobain

Ambuja Cements

Italcementi

Votorantim Cimentos

Source: IndexBox Platform