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News Consumption

Displaying items by tag: Consumption

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Indian cement demand to exceed 380Mt in 2023 financial year

31 January 2023

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.

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Lucky Cement increases sales and profit in first half of 2023 financial year

30 January 2023

Pakistan: Lucky Cement recorded sales of US$876m in the first half of its 2023 financial year, up by 42% year-on-year from US$616m in the first half of the 2022 financial year. It sold 3.57Mt of cement and clinker, down by 24% year-on-year from 4.7Mt. The producer's costs rose by 50% to US$585m from US$391m. It recorded a profit of US$73.1m, up by 6.8% from US$68.4m.

During the half-year period, total national cement sales dropped by 17% year-on-year to 20Mt, while Pakistan's cement exports fell by 49% to 1.7Mt. The aftermath of flooding, high interest rates, inflation and cost of goods and cuts to government spending all impacted the domestic cement market, while 'global recessionary trends' cut into exports, according to Lucky Cement.

Lucky Cement holds a 15% share in the Pakistan market and a 34% share in the export market.

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Livetouch Investments plans Zvishavane cement plant

24 January 2023

Zimbabwe: Livetouch Investments plans to build a new 200,000t/yr cement plant in Zvishavane, Midlands Province. The first phase of construction will reach completion in mid-2024 and cost US$20m. When subsequently commissioned, the plant will create 300 new jobs. The Chronicle newspaper has reported that the upcoming plant is situated close to Livetouch Investments' existing limestone resources.

Livetouch Investments' mananging director Kyle Wang said that the company is building the plant in order to reduce Zimbabwe's reliance on imports of cement, notably via Zambia. Zimbabwe already has a cement capacity of 2.6Mt/yr, but a cement demand of just 1.6Mt/yr.

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Portland Cement Association forecasts US cement consumption to decline later in 2023

18 January 2023

US: Ed Sullivan, the Chief Economist and Senior Vice President of Market Intelligence at the Portland Cement Association (PCA), expects that cement consumption will decline in the second half of 2023 due to a worsening general economic outlook. However, he noted that order books for the construction industry were ‘strong’ for at least the next six months and that this would cushion the sector. Sullivan made his comments at a presentation at the World of Concrete conference in Las Vegas.

Sullivan said, "When looking at the big picture of real construction spending and cement consumption this year, we should expect both volumes to soften throughout the year, with significant declines in the second half of 2023." He added, "The downturn is expected to be short-lived as interest rates ease slightly and stronger infrastructure volumes materialise in 2024 and beyond."

Sullivan predicts that the US economy is gradually weakening under the weight of high inflation, rising interest rates and geopolitical turmoil. However, he viewed the occurrence of a recession as unlikely. In the construction sector he forecasts that the private sector will continue decline in 2023 following a drop in 2022. Spending benefits from the Bipartisan Infrastructure Law are likely to be muted in 2023 before registering a stronger effect in 2024.

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Vietnam's cement capacity to grow by 4% in 2023

16 January 2023

Vietnam: New cement lines will raise Vietnamese cement production capacity by 4% year-on-year in 2023 to over 120Mt/yr. Vietnam News Summary has reported that upcoming new capacity scheduled to commence operations during the year include a 4.5Mt/yr line at a Xuan Tanh Cement plant and a 2.5Mt/yr line at a Long Son Cement plant.

Vietnamese cement demand was 65Mt in 2022. Several producers suspended cement lines during the second half of that year due to high costs and unfavourable market conditions.

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Bolivian cement production and sales rise in first 10 months of 2022

16 January 2023

Bolivia: The Bolivian National Institute of Statistics (INE) recorded total national cement production of 3.3Mt during the first 10 months of 2022, up by 12% year-on-year from 2.9Mt in the corresponding period of 2021. Meanwhile, cement sales rose by 5.6% year-on-year to 3Mt, from 2.84Mt. Compared to 2019 volumes, cement sales fell by 5.6% from 3.96Mt. Nonetheless, Bolivian Cement and Concrete Institute (IBCH) general manager Marcelo Alfaro said that the results 'consolidated the rebound' that began in 2021. Cement sales volumes previously dropped by 23% year-on-year to 3.03Mt in 2020, amid successive Covid-19 lockdowns.

Fábrica Nacional de Cemento (FANCESA) commercial manager Álvaro Cuéllar said "FANCESA is making the necessary efforts to meet its share of the domestic market." Cuéllar added "We are close to 9Mt/yr of capacity for a market that in 2019 approached 4Mt/yr. That is why we have many kilns stopped and the industry is working at half speed."

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Thai nine-month cement demand rises by 6% year-on-year so far in 2022

17 November 2022

Thailand: Siam Cement Group (SCG) recorded total national cement consumption growth of 6% year-on-year throughout the first nine months of 2022. The producer partly attributed the comparatively high figure to nationwide building site closures during the first nine months of 2021. In its management discussion and analysis of its third quarter 2022 results, the group noted commercial construction as the main driver of demand growth. Its cement consumption rose by 8% year-on-year, cement use by infrastructure projects grew by 6% and cement demand for residential projects rose by 5%.

Public construction supplies 40% of Thai domestic cement demand, with commercial and residential construction together accounting for the remaining 60%.

SCG previously reported that Thai cement demand had dropped by 5% year-on-year during the first half of 2022.

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Crown Cement estimates cost of all Bangladeshi unused cement capacity at US$1.46bn

14 November 2022

Bangladesh: Crown Cement has estimated the total cost of cement capacity currently unused in Bangladesh at US$1.46bn. The figure is even higher when maintenance costs are included, according to Crown Cement's chief advisor Masud Khan. Over the past 15 years, national cement capacity has nearly quadrupled to 83.3Mt/yr from 22.4Mt/yr, while demand has merely doubled to 46.7Mt/yr from 22.8Mt/yr. Khan estimated the cost per 1Mt/yr of new Bangladeshi cement capacity over the period at US$40m.

Khan said that producers continue to anticipate an acceleration in local cement consumption growth in the medium-term future. Reflecting on the situation up to the end of 2022, he said "They thought if they were not prepared for the growing demand, they would lose their market share. That was why they continued expansion, bearing the burden of excess capacity." Khan forecast a further decline in the industry's capacity utilisation if gross domestic product undergoes a forecast drop during the 2023 financial year, impacting on producers' results for the year.

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Holcim New Zealand takes receipt of Christian Pfeiffer ball mill

04 November 2022

New Zealand: Holcim New Zealand says that it has received a mill for use in its upcoming Auckland cement replacement products import and distribution facility. The company opted for a Christian Pfeiffer ball mill for the project.

Holcim New Zealand says that alternative materials imported via the Auckland facility will eliminate 100,000t/yr of cement from New Zealand's 1.6Mt/yr consumption. The company expects that this will cut 78,000t/yr of CO2 emissions.

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Martin Marietta Materials' sales and earnings rise in first nine months of 2022

02 November 2022

US: Martin Marietta Materials recorded revenues of US$4.68bn throughout the first nine months of 2022, up by 20% year-on-year from US$3.92bn. Cement sales contributed US$455m, 9.7% of total revenues, up by 27% from US$358m. Cost of revenues rose by 4% for the group, to US$3.62bn from US$2.92bn. Nonetheless, Martin Marietta Materials successfully recorded nine-month net earnings growth of 25% year-on-year, to US$638m from US$546m.

Chair and CEO Ward Nye said that double-digit price growth drove the company's record profitability. He said "Importantly, we expect a return to expanding margins in the fourth quarter of 2022, as the compounding effect of multiple pricing actions throughout the year offsets continued inflationary pressure and a slowdown in single-family residential construction. Martin Marietta's strategic coast-to-coast footprint is well positioned for long-term growth, driven by favourable population migration trends, housing shortages in our markets and a long-term federal highway bill complemented by healthy Department of Transportation budgets in the company's key states. Near-term, we expect affordability-driven headwinds in the single-family residential end market will be offset by a significant acceleration in public infrastructure investment and continued strength in large-scale energy, domestic manufacturing and multi-family residential projects."

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