White cement consumption to top 22 million tons on steady economic growth
The global economy is expected to recover and continue to grow, providing the backdrop for the encouraging trend, since, as a premium commodity, consumption of white cement benefits from GDP growth and increasing consumer spending.
“In spite of the dark clouds that have been pervading menacingly over the global economic sentiment, the global white cement market managed to weather the storm and come out relatively unscathed, in comparison to the much larger and more followed global gray cement market,” notes Prashant Singh, CW Group’s Associate Director.
ASIA EX-CHINA GAINS CONSUMPTION SHARE
At a global level, during the period of 2014 to 2019, the regions that drove the white cement market were North America and Western Europe.
Additionally, Asia ex-China has become an important growth center over the past five years. Regions including the Middle East and E. Europe & CIS (primarily Turkey) are facing numerous economic challenges and experienced either decline or stagnation in demand in 2019.
China remains the largest white cement market from a regional perspective, accounting for roughly a third of global demand. However, its share of world consumption is expected to decrease as other regions including Asia ex-China, E. Europe & CIS, and Africa see faster rates of demand growth, outpacing China over the forecast period from 2019 to 2024.
CHINA LEADS WORLD PRODUCTION
In addition to leading global consumption of white cement, in 2019, China accounts for an estimated 34 percent of the production market, followed by the Middle East, albeit at a very distant second place. Western Europe comes next, followed by Asia ex-China, both holding double-digit shares of the world’s white cement output.
“China and the Middle East remain the leaders in production. However, in terms of percentage, North America is expected to more than double its existing capacity by 2024, with the commissioning of US Cement’s 0.5-million-ton plant in Brady, Texas,” assesses Carolina Pereira, Business Analyst at CW Group.
In the last five years, capacity additions have grown steadily, with some notable increments. Ultratech Cement’s capacity increased to 0.7 million tons in 2019 in Kharia Khangar, at the Rajasthan cement plant. In 2018, Gezhouba Shimen Special Cement Company commissioned a new production unit in Guangxi province, China, with a capacity of 0.6 million tons.
Another example is that of Xi Mang Trang, which, also in 2018, commissioned a new production unit in Vietnam, with a capacity of 0.1 million tons of white cement.
For more information, placing an order, or interview inquiries, please contact Mihnea Manea, Media and Market Services Executive, CW Group, by phone at +40 723 281 704, or e-mail at email@example.com.
ABOUT THE REPORT
CW Research’s 2020 update of the Global White Cement Market and Trade Report examines the worldwide white cement industry and presents the latest market data which cover the 2009 -2019E period, with a medium-term forecast until 2024. The comprehensive report includes cement consumption and production figures, import and export data, as well as pricing trends and white cement capacity developments.
Additionally, this data-rich research product provides extensive quantitative information on consumption, usage segments, production, local prices, trade prices, type of handling, trading facilities and trade-flows, by region and major countries. Furthermore, the report analyzes region specific user segments by white cement type and their main consumption drivers as well as perspective for 2024.
More information about the report can be found here:
PO Box 5263, Greenwich, CT 06831, USA
Mihnea Manea (firstname.lastname@example.org)
ABOUT CW GROUP
The Greenwich (Conn.), USA-headquartered CW Group is a leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. CW Group is particularly recognized for its sector expertise in heavy-side building materials (cement), light-side building materials, traditional and renewable power & energy, petrochemicals, metals & mining, industrial minerals, industrial manufacturing, bulk cargo & shipping, among others. We have a strong functional capability, grounded in our methodical and quantitative philosophy, including due diligence, sourcing intelligence, feasibility studies and commodity forecasting. www.cwgrp.com
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