Asia ex-China's emerging markets drive global cement capacity through 2024

 
 
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GREENWICH, Conn. - Nov. 26, 2019 - PRLog -- World cement capacity is projected to touch 5.8 billion tons by 2024, according to CW Research's 2H2019 update of the Global Cement Volume Forecast Report. In 2019 alone, Asia ex-China is forecast to account for over 40 percent of all capacity additions.

"China, with its capacity rationalization efforts that aim to accommodate fewer, yet more modern and efficient, production facilities, is witnessing its contribution to global cement capacity being balanced with additions from India and smaller regional players, such as Bangladesh and Vietnam, which are taking over the role of driving capacity growth" observes Carolina Pereira, Business Analyst at CW Group.

India tops capacity additions

In the upcoming five-year period, when single markets are considered, India emerges as the undisputed leader, with its capacity additions by 2024 projected to amount to 100 million tons, whereas the Philippines is expected to front world capacity when observing percentage growth.

In North America, cement capacity is projected to remain flat in the next five years, as regional players work on improving utilization rates. Canada's capacity additions are forecast to edge up in 2019-2024, but the United States will continue to hold regional leadership.

Western European markets are also expected to display a downward curve, as modest capacity expansions in France and the UK prove insufficient to offset the declining trend through 2024.

In Latin America, cement capacity additions are forecast to rise in the next five years, with Brazil and Mexico starting to pave the way already in 2019. In Brazil, the bulk of capacity expansions will come from CSN Campo Largo's new plant, with the capacity to produce 3 million tons per annum, and scheduled for commissioning in 2020.

In the Middle East, Iran is likely to continue leading cement capacity expansions, accounting for 36% of the regional total, followed by Iraq. The latter will be the stage of a variety of new projects, with the Al-Maysarah Group's announcement of the rehabilitation of Fallujah White Cement for 2020. Meanwhile, Northern Cement and Southern Cement announced the construction of two cement plants.

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More information about the report can be found here: https://www.cwgrp.com/research/research-products/product/12-global-cement-volume-forecast-report

For more information, placing an order, or interview inquiries, please contact Mihnea Manea, Media and Market Services Executive, CW Group, by phone at +40 723 281 704, or e-mail at mm@cwgrp.com.

About CW Group

The Greenwich (Conn.), USA headquartered CW Group is a leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. www.cwgrp.com

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