Asia ex-China and the Middle East to drive cement consumption in 2022

 
GREENWICH, Conn. - May 25, 2022 - PRLog -- Cement consumption in 2022 is expected to grow in Asia ex-China and the Middle East, while declining in Eastern Europe and CIS, according to CW Research's 1H2022 update of the Global Cement Volume Forecast Report (https://www.cwgrp.com/research/research-products/product/12-global-cement-volume-forecast-report) (GCVFR).

Eastern Europe & CIS consumption is estimated to contract by 5 percent, driven by steep declines in Russia and Ukraine.

"Cement demand in Asia ex-China is likely to see an increase in 2022 driven by India, Philippines, Bangladesh, and Vietnam due to large infrastructure projects and government spending. Meanwhile, in the Middle East, due to the increase in crude oil prices, consumption is expected to continue to increase, supported by major infrastructure projects," comments Prashant Singh, Director at CW Group.

Cement consumption in Europe posts divergent trends

Western Europe's cement consumption is likely to grow by less than 2 percent, while Eastern Europe and CIS is set to decline by almost 5 percent, due to the ongoing Russia-Ukraine conflict.

Russia's cement consumption this year is estimated to decrease by 7 percent while in Ukraine it is estimated to plunge by 85 percent year-on-year. On the other hand, Turkey's cement demand is estimated to increase by almost 4 percent this year, compared to last year.

China's cement consumption set to decline

Cement consumption in China is expected to decline due to the country's Zero-Covid policy and imposed governmental restrictions on production to reduce overcapacity and GHG emissions.

Nevertheless, the country is about to embark on a new infrastructure spending spree in a bid to rebuild its economy after two years of the pandemic. According to the most recent government statistics, infrastructure investment already increased 8.5 percent in the first quarter of 2022 year-on-year.

Cement consumption in Africa to increase in all markets

In Africa, 2021 was a positive year for cement consumption across all markets, driven by a strong performance in Tunisia, Senegal, and Kenya. For 2022, regional consumption is expected to increase by 3 percent year-on-year.

Nigeria's cement consumption is expected to increase more than 5 percent in 2022, driven by increased infrastructure spending. Over the next five years, cement consumption in the region is expected to witness an increase at an annual rate of 4 percent.
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