Table of Contents

Introduction........................................................................... 4

Executive summary............................................................ 5

Main updates in the 2012 report...................................... 6

The economy and the construction sector................... 7

Economy....... 7

Figure: Economy and population.......................................... 8

Construction sector.................................................................. 9

Infrastructure........................................................................ 9

Figure: Construction sector and the economy................... 10

Housing... 11

Table: Construction sector importance and growth.......... 11

Cement market.................................................................. 12

Figure: Principal existing Plants........................................ 13

Competitive dynamics............................................................. 13

Government........................................................................ 14

Incumbent operations.............................................................. 15

Société des Ciments D’Onigbolo (SCO)........................... 16

Société des Cimentes du Benin (SCB).............................. 16

Cimbenin............................................................................ 17

Figure: Cement plant locations.......................................... 18

Market shares..................................................................... 19

Figure: Share of nameplate capacity................................. 19

Figure: Import share........................................................... 20

Expansion and greenfield projects......................................... 21

Figure: Major upgrades and new plants............................. 21

New capacity....................................................................... 22

Figure: Nameplate cement production capacity (2005-2015E)... 22

Figure: Cement production capacity (2005-2015E)........... 24

Demand and supply.......................................................... 25

Cement demand...................................................................... 25

Figure: 2005-2011E cement demand................................. 25

Cement supply........................................................................ 26

Figure: 2005-2010E annual cement production................. 26

Figure: Capacity utilization (2006-2010E)......................... 27

Import and export activities..................................................... 27

Figure: Cement imports and exports................................. 28

Figure: Cement imports: product types and evolution....... 29

Figure: Cement import countries....................................... 30

Cement prices.................................................................... 32

Figure: 2006-2010 indicative cement prices..................... 32

Outlook..... 34

Figure: Apparent cement demand projection (2005-2015)... 34

Figure: Growth in apparent cement demand (2006-2015). 35

Figure: Capacity utilization (2006-2015E)......................... 35

Next steps........................................................................... 37

Data tables.......................................................................... 38

Supply-demand balance (2005 – 2010E, mm tons)................ 38

Production capacity market share (2009-2015E, %).............. 39

Imports by cement type (2005 – 2010E, tons)........................ 40

Cement import countries (2005 – 2010E, tons)....................... 41

Cement export countries (2005 – 2010E, tons)...................... 42

Table: Cement plant capacities (2005 – 2015E, mm tons)...... 43

Disclaimers......................................................................... 44

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Electronic (PDF)

USD1325

Sept 2011