Asia to drive global white cement demand in the 2023-2028 period
- Global demand for white cement is forecast to grow at a CAGR of nearly 4 percent in the 2023-2028 forecast period
- Per capita consumption of white cement to continue growing by 2028
- Eastern Europe and CIS emerge as the largest white cement exporting region in 2023
Greenwich (CT), USA, April 18, 2023 – Global demand for white cement is expected to grow at a CAGR of nearly 4 percent in the 2023-2028 forecast period, while consumption per capita is projected to see an increase of around 3 percent, according to CW Research's 2023 update of the Global White Cement Market and Trade Report.
In the period between 2018 and 2023, total global white cement demand is expected to amount to more than 20 million tons, growing at a CAGR of over 1.5 percent
“In terms of the total consumption of white cement, the highest yearly increase was recorded in North America where consumption increased at a CAGR of around 6 percent in the 2018-2023 period, on the back of sustained economic growth in the country and its subsequent positive impact on the construction sector. For the next five years, Asia is projected to be the main driver of global white cement demand,” explains Lucas Pimenta, Junior Business Analyst at CW Group.
China continues to account for the largest share of the global white cement demand
China remains a giant, be it gray or white cement. For white, China accounts for almost 33 percent of demand in 2023E, having grown at a CAGR of nearly 1 percent over the previous five years. White cement demand in China is expected to grow at a CAGR of almost 5 percent over the forecast period 2023-2028.
China, encompassing Hong Kong and Macau, has more than 35 active plants, which, combined, have an installed white cement production capacity of over 11 million tons in 2023E. Overall, Asia is expected to drive global white cement demand in the next five years.
Per capita consumption to rebuild momentum by 2028 after a decline in the last five years
From a per capita perspective, global white cement consumption is expected to regain momentum over the next five years with an increase of nearly 3 percent, following a slight decline of less than half percent between 2018 and 2023. Middle East per capita consumption has remained above the global average in the last five years, on the back of rising purchasing power.
Eastern Europe and CIS is the largest white cement exporting region
In 2023E, Eastern Europe and CIS are expected to emerge as the largest exporting region of white cement displacing Western Europe. It is projected to ship over 2 million tons of the material by the end of the year. Western Europe is expected to remain the largest import destination for white cement in 2023E, followed by North America, the Middle East, and Eastern Europe & CIS. The United States is expected to import almost 1.5 million tons of white cement in 2023E.
The Global White Cement Market and Trade Report is CW Research’s comprehensive assessment of the worldwide white cement industry and presents the latest market data (demand and supply) covering the 2018-2023E period, with a 5-year medium-term forecast until 2028. The report includes white cement consumption and production figures, import and export data as well as pricing trends and white cement capacity developments.
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