Global Cement Market 2023

Cement Market Size

The global cement market reached $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cement Production

In value terms, cement production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. Over the period under review, global production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cement Exports

Exports

In 2022, after two years of growth, there was significant decline in overseas shipments of cement, when their volume decreased by -5.5% to X tons. Overall, exports, however, saw a mild expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 13%. Over the period under review, the global exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, cement exports rose to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 14%. Over the period under review, the global exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) and Vietnam (X tons) represented roughly 27% of total exports in 2022. It was distantly followed by Germany (X tons), constituting a 4.9% share of total exports. Japan (X tons), Canada (X tons), Spain (X tons), Greece (X tons), Thailand (X tons), Mexico (X tons), the United Arab Emirates (X tons), Belgium (X tons), Belarus (X tons) and Slovakia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +31.7%), while the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Vietnam ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 28% share of global exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +26.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, surging by 10% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.4%), while the other global leaders experienced more modest paces of growth.

Cement Imports

Imports

Global cement imports reduced modestly to X tons in 2022, standing approx. at the previous year's figure. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 11%. Global imports peaked at X tons in 2021, and then contracted slightly in the following year.

In value terms, cement imports rose markedly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States was the main importer of cement in the world, with the volume of imports recording X tons, which was near 21% of total imports in 2022. It was distantly followed by the Philippines (X tons), constituting a 5.8% share of total imports. Singapore (X tons), Israel (X tons), France (X tons), Hong Kong SAR (X tons), the Netherlands (X tons), Afghanistan (X tons), China (X tons), Libya (X tons), Uzbekistan (X tons), Palestine (X tons) and Italy (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cement imports into the United States stood at +15.0%. At the same time, the Philippines (+82.3%), Uzbekistan (+34.0%), China (+27.9%), Israel (+20.5%), Hong Kong SAR (+6.8%), Italy (+5.7%) and Palestine (+3.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +82.3% from 2012-2022. The Netherlands and France experienced a relatively flat trend pattern. By contrast, Singapore (-2.7%), Libya (-4.5%) and Afghanistan (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, the Philippines, Israel, Uzbekistan and China increased by +15, +5.8, +2.7, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported cement worldwide, comprising 21% of global imports. The second position in the ranking was held by the Philippines ($X), with a 4.3% share of global imports. It was followed by the Netherlands, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +14.2%. In the other countries, the average annual rates were as follows: the Philippines (+64.3% per year) and the Netherlands (+4.2% per year).

Import Prices by Country

The average cement import price stood at $X per ton in 2022, growing by 9.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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