Saudi Arabia: Southern Province Cement Company’s revenues fell by 12% year-on-year to US$285m in 2023, from $US325m in 2022. The company’s net profit also fell, by 35% from US$80.2m to US$52m.

Azerbaijan: The latest figures from the State Statistical Committee show a 35% year-on-year increase in the value of building materials produced in Azerbaijan, to US$102m in January - February 2024. Cement production notably surged to 546,000t in the two-month period, a 30% increase. However, clinker production fell by 17% year-on-year. The production of ready-mix concrete increased by 60%, but construction lime production dropped by 57%. These trends continued an increase in building materials production from 2023, when it rose by 32% from 2022 levels.

Vietnam: The Vietnamese Ministry of Construction has recommended that Long Thanh Cement receive a mining licence for clay mines T51 and T52 Nui Nghe. The licence allows for an extraction capacity of 1.1Mt/yr of clay. This initiative aims to provide a stable supply of clay materials for the Long Thanh cement plant in Ha Nam province, which is undergoing expansion from 0.91Mt/yr to 2.3Mt/yr. The Ministry of Natural Resources and Environment reports that these clay mines have a claystone reserve of 4.33Mt and a sandstone and siltstone reserve of 1.6Mt viable for cement production.

Turkmenistan: On 13 March 2024, President Serdar Berdimuhamedov inaugurated the second phase of the Lebap Cement Plant in the Koitendag district, Lebap province, increasing its production capacity to 1Mt/yr. The first phase has been operational since February 2013. The new facility includes 38 buildings and is designed to meet international standards, including the production of sulphate-resistant cement.

Additionally, the President announced the upcoming launch of the Baherden Cement Plant's second stage in the Ahal province, expected to produce another 1Mt/yr of cement.

Serdar Berdimuhamedov said "Advanced equipment has been installed at the plant, which will help optimise the production process and produce products that are in high demand." He added “Turkmenistan has set a course for industrialisation, import substitution and ensuring the competitiveness of domestic construction products."

Philippines: Shera is investing US$36m to establish its first production hub in the Philippines. Announced by Thunnop Jumpasri, president and country head for Philippines and Malaysia, the move marks a significant expansion in response to the robust growth in the local construction sector.

The new facility, located in Pampanga, commenced initial operations in 2023 and is anticipated to be fully operational by October 2024. With an initial capacity of 100,000t/yr, expected to double in the coming years, the plant will create 150 jobs. After 15 years of supplying fibre cement boards from Thailand and achieving US$27m in Philippine sales last year, Shera aims for 10-15% growth in 2024.

Thunnop Jumpasri said "This will be our first plant outside of Thailand. We plan to export to other countries from the Philippines to Taiwan, Korea and some parts of China, but we prioritise the Philippines first for now."

France: Saint-Gobain is intensifying its commitment to low-carbon cement and concrete additives. The group has invested in Fortera, a start-up developing a process for low-carbon cement production. Fortera's ReCarb process reduces CO₂ emissions by 70% in existing cement plants, contributing significantly to the goal of net-zero carbon cement production, especially when combined with renewable energy. Additionally, Saint-Gobain supports Ecocem, a leading company in low-carbon cement technologies in Europe, as a shareholder. Ecocem's ACT technology showcases a 70% reduction in carbon footprint compared to the average CEM II cement used in Europe.

US: On March 14, 2024, the US Environmental Protection Agency (EPA) acknowledged 103 manufacturing plants for achieving Energy Star certification in 2023, a prestigious recognition for being in the top 25% of energy efficiency in their respective sectors. These plants collectively prevented over 8Mt of CO₂ emissions. Out of the 103, 11 were cement plants.

EPA Administrator Michael S Regan said “These Energy Star certified plants demonstrate that cutting the embodied carbon of our industrial products through energy efficiency doesn’t just make environmental sense, it makes economic sense.”

The industrial sector, responsible for 30% of US greenhouse gas emissions, mainly due to energy consumption in manufacturing, has seen significant improvements in these Energy Star certified plants. These facilities assess their energy performance using EPA’s energy performance indicators or the Solomon Associates Energy Intensity Index for petroleum refineries. Plants scoring at least 75 out of 100, thereby exceeding the energy efficiency of 75% of similar facilities nationwide, are eligible for this certification. Available across 21 manufacturing sectors, including cement, steel, glass, and commercial bakeries, Energy Star certification has been awarded to over 270 plants since 2006, reflecting the growing trend of energy-efficient practices in the manufacturing industry.

Spain: Cement consumption in Spain witnessed a 1.5% year-on-year decline in February 2024, marking nine consecutive months of decreases amid high interest rates, surging housing prices, and a stagnant outlook for the construction sector. According to Oficemen, February's consumption reached 1.1Mt, down from 1.2Mt in February 2023. The export sector experienced an even sharper fall, dropping 13.9% year-on-year in February 2024, continuing an eight-month decline, with a 9.8% decrease in exports from February 2023 to February 2024. Conversely, imports have risen by 11.3%.

Oficemen's general director, Aniceto Zaragoza, said “With nine months already in decline, the concern with which we observe the evolution of cement consumption and, of course, the construction sector, is accentuated.” Zaragoza called for increased collaboration between public and private institutions in public contracting processes to sustain infrastructure competitiveness. The slump in cement consumption, which has been ongoing since 2019, coincides with the European Central Bank's interest rate hikes, leading to higher mortgage costs and reduced demand in the housing market.

World: Investment firm Insight Partners has forecast a composite annual growth rate (CAGR) of 3.3% in the global green cement and concrete market between 2023 and 2030. This will result in a total value of US$990m in 2030, compared to US$806m in 2023. Regionally, the firm expects the sharpest growth in South and Central America, with a CAGR of 10% to US$7.9m in 2030. North America is expected to grow at a rate of 5.4% annually, to US$190m, followed by Europe, at 4.5% to US$226m, Middle East and Africa, at 2.9% to US$13m, and Asia-Pacific, at 1.4% to US$553m. In 2023, Asia-Pacific commanded a 61% share of the global market. Europe’s share was 20% and that of North America was 16%.

Mexico: Standard & Poor's (S&P) has raised Cemex's long-term global scale issuer credit rating to Investment Grade (BBB-). The upgrade is attributed to Cemex's robust financial and operating performance, effective deleveraging strategy, and adaptable capital allocation.

The upgrade to Investment Grade marks a significant achievement for Cemex, reflecting its record results and consistent financial performance over several years.

"Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex," said CEO Fernando A González. In 2023, Cemex reported a 25% growth in EBITDA and more than a doubling in Free Cash Flow after maintenance capex.

S&P also elevated Cemex's national scale issue-level rating in Mexico from mxAA to mxAA+.