Cement demand in Peru grows in 1H2019; Saudi Arabia struggles with overcapacity

GREENWICH, Conn. - Sept. 24, 2019 - PRLog -- In the first half of 2019, cement demand recorded conflicting trends across selected markets, according to CW Research's Cement Country Market Data reporting.

"With an expected GDP growth of 3.9% in 2019, Peru offers good perspectives for the cement industry. Private investment, particularly in the mining industry, is replacing large infrastructure projects such as the Pan-American Games, as the main propeller of the construction sector", notes Carolina Pereira, Business Analyst at CW Group.

In Peru, cement demand increased a little over three percent over the first five months of the year, to just over four million tons, propped by positive macroeconomic conditions. Investors are overall bullish on the country's construction industry, with business sentiment being overall positive and spending in infrastructure and housing showing a healthy growth.

Conversely, consumption of cement in Saudi Arabia declined over 11 percent year-on-year in the January-May period. While the country's construction sector is expected to continue a positive performance as the government focuses on diversifying its economic output, the cement sector is still struggling with overcapacity.

In Argentina, cement demand declined by around eight percent in the first six months of the year when compared to the equivalent year-ago period. The country has been facing a challenging backdrop due to the ongoing recession, with most of the economic indicators performing negatively, including construction. Overall forecasts also remain grim, as the country grapples with high inflation, low investment and consumption.

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About Cement Country Market Data

CW Research's Cement Country Market Data reporting covers monthly cement volume trends across the globe. The service provides data and statistics on monthly demand and supply volumes for the largest cement producing and consuming markets around the world, being an indispensable tool for producers, suppliers, traders, investors and end-users that need to quickly understand developments in the world cement markets.

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About CW Group

CW Group is a US-based leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. CW Group is particularly recognized for its sector expertise in heavy-side building materials (cement), light-side building materials, traditional and renewable power & energy, petrochemicals, metals & mining, industrial minerals, industrial manufacturing, bulk cargo & shipping, among others. We have a strong functional capability, grounded in our methodical and quantitative philosophy, including due diligence, sourcing intelligence, feasibility studies and commodity forecasting. www.cwgrp.com