As global construction surges, demand for concrete and cement is climbing—making price transparency more critical than ever. With sustainability pressures mounting, cement manufacturers face the challenge of balancing decarbonization with profitability.
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11/25/2025 13:01:41 UTC | News
Author Binny
Sabharwal, [email protected]
Highlights
Global cement demand is forecast to remain steady in mature markets in 2025, but recovery in North America and Europe is likely to be sluggish, primarily due to high interest rates and ongoing trade uncertainties, according to Yassine Touahri, managing partner at On Field Investment Research.
Speaking at the Intercem Americas conference in Houston, Texas, held over Nov. 19-21,Touahri added that despite government stimulus efforts, China is expected to experience a further decline in cement demand, while moderate growth is anticipated in Africa and Southern Asia next year.
On Field also predicts that the cement industry will prioritize pricing strategies to counteract cost inflation in the US and consolidated European markets.
"[This may come] even at the expense of some market share loss to independent imports," Touahri said.
Emerging markets are likely to implement local currency price increases to mitigate foreign exchange depreciation, while signs of recovery are appearing in Chinese prices after a prolonged period of decline.
Geopolitical factors remain critical to cement demand meanwhile.
"If peace is achieved in Ukraine and the Middle East, we could see a significant surge in demand for reconstruction, greatly impacting supply and demand dynamics in those regions," Touahri said. "While [US President-elect] Trump has repeatedly expressed his willingness to swiftly achieve peace, reaching comprehensive agreements remains challenging due to the ideological differences of negotiating partners, particularly Russia and Iran."
He added that ongoing conflicts have already reduced local cement demand by over 15 million mt from their peak.
Reflecting on 2024, Touahri noted that cement demand displayed weak trends in mature markets and China, with North America and Western Europe experiencing "disappointing" demand as private construction suffered from high interest rates and extreme weather events.
"In China, demand remained under significant pressure," he said, while Latin America showed stability with modest growth in Mexico and Brazil offset by declines in other South American regions. "India, Africa, and Eastern Europe, however, saw moderate growth."
01/30/2025 14:35:21 UTC | News
Author Binny
Sabharwal, [email protected]
Highlights
Carbon reduction and carbon neutrality remain a key challenge for the global cement industry and although progress has been made through carbon capture and storage technologies, the high costs and energy intensity of these solutions need to be acknowledged, said Wei Rushan, president of the World Cement Association in an address to its members Jan. 30.
“Cement plays a crucial role in building sustainable infrastructure,” Rushan said. “By accelerating innovation, adopting low-carbon technologies, and fostering global collaboration, we can ensure cement remains an environmentally responsible material.”
Rushan also highlighted regional variations in supply and demand. While multinational companies increase their focus on North America, cement production in Europe continues to decline due to strict CO2 regulations and necessary capacity reductions, driving up cement prices. “In established markets like Europe and North America, price increases are expected to persist, while in some emerging markets, prices may experience a short-term decline. However, from a long-term perspective, we expect emerging markets to remain dynamic and resilient.”
In China and Japan, efforts to address overcapacity are leading to significant consolidation and restructuring and in contrast, Indian companies are strengthening their domestic leadership, while multinational companies are exiting this high-potential market.
“Globally, regional leaders are gaining influence, except in Europe and North America, where European multinationals continue to dominate. Chinese cement producers and other independent companies are aggressively expanding, particularly in Africa and Southeast Asia, solidifying their market presence,” Rushan said.
Overcapacity in the cement industry was also identified as a major challenge with WCA’s recent white paper forecasting global cement demand to decline by 22% by 2050.
“To remain both profitable and environmentally responsible, the cement industry must aim to reduce capacity by 50%, from 4.7 billion tons to 2.3 billion tons within the next decade. This requires focusing on modern, sustainable production units,” Rushan added.
Platts, part of S& Global Commodity Insights, assessed the Platts CEMDEX Turkey price, reflecting Ordinary Portland Cement CEM I 42.5R (bulk), at $52/mt FOB Jan. 23.
Commodity Insights launched a pioneering suite of cement and cement clinker price assessments Jan. 9. The assessments incorporate market data to reflect the value of cement, clinker, and associated freight in the spot market, taking into account bids, offers, trades, and other indicators -- providing insights into pricing at key cement hubs.
01/09/2025 17:14:19 UTC | News
Author Binny
Sabharwal, [email protected]
Highlights
Turkey’s domestic cement market experienced a robust growth of 11% on the year in the first ten months of 2024, with total consumption for the whole year projected to reach 75 million mt, up from 68 million mt in 2023. However, the export market remained relatively flat, with total exports of cement and clinker at 19.5 million mt, marking a slight decline of up to 2% on the year, Abdulhamit Akçay, vice chairman of Turkish Cement, told S& Global Commodity Insights.
“We saw a significant increase in clinker exports in 2024 by nearly 40% [on the year] and we expect the same growth in 2025. Cement-wise, there will be growth, but not as strong as clinker,” Akçay said.
Looking ahead to 2025, Akçay said the economic landscape in Turkey appeared challenging due to high interest rates and stringent monetary policies. With the central bank's cautious approach to rate cuts, it is expected that domestic consumption could remain flat or decrease by up to 5% compared with 2024. However, despite these challenges, exports are expected to rise by 10% on the year, driven by a significant increase in clinker exports, particularly to Europe, where demand is anticipated to grow. The US market also presents opportunities for growth, with potential increases in cement exports.
“2025 will be a tough year again because of stringent economic policies and monetary tightening,” Akçay said. “Even if interest rates decrease, there will be some limitation in the financial landscape. So, the strongest scenario sees domestic consumption at either flat or 5% lower [on the year] than 2024.”
Turkey’s shift towards green cement is also expected to continue during 2025, with manufacturers increasingly adopting blended cement to comply with government regulations. This transition is expected to gradually boost sales of blended cement in the domestic market with blended cement “selling more and more”, Akçay said.
Akçay also noted that the US market remained optimistic about Turkish cement imports, despite uncertainties surrounding potential tariffs under the Trump administration as the quality and consistency of Turkish cement, coupled with short transit times, continue to make Turkey a preferred supplier.
“Our US customers are very optimistic about the new government and expect a significant growth in construction activity,” he said.
Platts, part of S& Global Commodity Insights, assessed the first Platts CEMDEX Turkey price, reflecting Ordinary Portland Cement CEM I 42.5R (bulk), at $51/mt FOB on Jan. 9.
S& Global Commodity Insights launched a pioneering suite of cement and cement clinker price assessments Jan. 9. The assessments incorporate market data to reflect the value of cement, clinker, and associated freight in the spot market, taking into account bids, offers, trades, and other indicators -- providing insights into pricing at key cement hubs.
Platts is part of S& Global Commodity Insights.
09/20/2024 15:01:15 UTC | News
Author Binny
Sabharwal, [email protected]
Highlights
As pressure to achieve a zero-carbon economy takes center-stage globally, with customers demanding "greener" products, the global cement industry -- one of the main sectors set to be impacted by the change -- is striving to stay one step ahead.
S& Global Commodity Insights interviewed Abdulhamit Akçay, the vice chairman of Turkish Cement, a semi-governmental association representing cement producers and exporters in Turkey, to discuss how the largest cement exporter in the world is tackling issues regarding sustainability, the EU's Carbon Border Adjustment Mechanism, inflation and competition.
Following is a Q& lightly edited for clarity.
Commodity Insights: What steps is the Turkish cement industry taking to stay relevant after the EU’s CBAM kicks in?
Abdulhamit Akçay: Turkish Cement’s enhanced focus is on CBAM, and we are determined to lower carbon emissions as much as possible and the government is also involved. Many different steps will be needed to achieve this which will be taken in due time. CBAM is the main topic on the agenda for Turkish cement manufacturers. Turkish Cement has been making a lot of effort to abate carbon emissions and align with Europe in a couple of ways. We are trying carbon capture but that is not viable and is costly. We are looking at other ways like alternative fuels, renewable energy, sustainable raw materials. We are trying out waste heat recovery facilities to generate energy using heat from our kilns, as cement plants require significant electricity capacity.
Commodity Insights: There are indications that China is re-entering the cement and clinker export market and other competitors are also trying to gain ground. Is this a concern for the Turkish cement industry?
Akçay: I agree and admit there is competition, but Turkey has several strategies and upsides that will keep us a couple of steps forward. Pricing is not the only tool that you can use. Obviously, we are trying to remain competitive, but prices cannot overcome the domination of Turkish cement in particular markets that have different expectations in terms of quality and service. Turkey stands out geographically so lead times are shorter, safer shipments, all are important factors contributing to our position in the global markets. Our capacity, supply, and logistics are unparalleled compared with any country in the world.
Commodity Insights: How is the Turkish Cement industry dealing with inflationary pressures?
Commodity Insights: How is the Turkish Cement industry dealing with inflationary pressures?
Akçay: The Turkish Lira is the strongest that it will ever be and there is a weak US dollar, which causes concerns for exports and exports are suffering. But we are determined to fight against inflation. However, for the time being, exchange rate pressure will continue, and we don’t expect any easing in economic policy and, as a result, don’t expect interest rates to be cut until the government sees a decrease in the inflation rate. So, we will feel the pressure next year as well.
