Features Asia ex-China and Middle East to support cement demand growth over the next five years 14 December, 2020 SHARE THIS ARTICLE Share Tweet Post Email LATEST Markets & Competition Wärtsilä powers cement plant production in Nigeria Long-term agreement secures operations May 07, 2024 Markets & Competition Algeria becomes the second-world exporter of clinker Rapid rise in global rankings ignites export May 07, 2024 MOST READ Markets & Competition US cement market insights unveiled Explore the latest trends and figures in the US cement April 29, 2024 Equipment Continental Cement unveiled new DomeSilo at Davenport Enhancing cement storage with Dome April 30, 2024 Asia ex-China and Middle East to support cement demand growth over the next five years As the global economy regains its growth trajectory in 2021, CW Research expects to see a quick recovery in Asia ex-China and the Middle East regions, which are expected to drive cement consumption growth over the next five years, according to CW Research's 1H2021 update of the Global Cement Volume Forecast Report (GCVFR). Cement consumption is estimated to witness a 5 percent growth year-on-year in Asia ex-China this year, after a decline of more than 6 percent in 2020. In the Middle East, cement demand is set to see a growth of almost 4 percent after a much smaller rise of less than 1 percent in 2020. ÔÇ£2021 has brought optimistic expectations of a cement demand recovery. However, global markets still see divergent regional growth trajectories. China's cement demand is expected to plateau, with demand gradually set to decline from 2024 onwards. On the other hand, Asia ex-China and the Middle East are predicted to show robust yearly growth until 2025,ÔÇØ noted Prashant Singh, Associate Director at CW Group. Pakistan, India, Bangladesh and Vietnam's demand set to increase in 2021 In Asia ex-China cement demand is likely to see an increase in 2021 estimated at 5 percent driven by increases in Pakistan, India, Bangladesh and Vietnam. In 2020, cement demand in the region declined mostly driven by a double-digit drop in Indian cement consumption, because of pandemic restrictions. Nevertheless, in the last quarter of the year government investments in infrastructure projects helped to nudge the sector back into a growth trajectory. However, in 2Q2020 this growth has once again been impacted by lockdowns caused by a new Covid-19 wave. In the next 5 years, India and Vietnam's governments are likely to support numerous large-scale support transport, energy, residential and industrial infrastructure projects increase the requirement for cement. Outlook for cement consumption in the Middle East remains bright In the Middle East, the outlook for cement consumption remains bright in the coming years as crude oil prices have largely recovered from historical lows during the first half of 2020. Major construction projects including NEOM city in Saudi Arabia and the 2022 Qatar World Cup are expected to drive cement demand over the forecast period. US construction sector to drive growth in North America's consumption Cement demand in North America is projected to increase over the next five years driven by the United StatesÔÇÖ construction sector, as the country accounts for majority of consumption in the region. Meanwhile, in Latin America, despite the economic contraction in major countries including Brazil and Mexico, the cement sector had a surprisingly positive performance in 2020. Latin America in 2021 is expected to witness an increase of around 3 percent year-on-year in cement demand and is set to rise further until 2025. The CW Group's Global Cement Volume Forecast Report (GCVFR) is a twice-yearly update on projections for cement volumes on a national, regional and global level. The forecast provides global and regional outlooks, as well as detailed perspectives on 57 of the world's most important countriesÔÇÖ cement consumption, production, net trade and cement production capacity. The five-year outlook presented in this benchmark study enables industry professionals to shape their perspective on markets and business priorities. Find out more about the report here. Sign in Don't have any account? Create one SHOW Forgot your username/ password? Log in Terms Of Service Privacy Policy This site is protected by reCAPTCHA and Terms of Service apply Sign in as: User Registration * Required field Sign In Information Personal Information Agree Yes No Terms of Service:You consent that we will collect the information you have provided us herein as well as subsequent use of our platform to render and personalize our services, send you newsletters and occasionally provide you with other information. * Fields marked with an asterisk (*) are required. Register SaveCookies user preferencesWe use cookies to ensure you to get the best experience on our website. If you decline the use of cookies, this website may not function as expected.Accept allDecline allCW GroupNewsAcceptDecline