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Sri Lanka cement demand expansion aided by infrastructure investments

05-29-2017 07:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: CW GROUP

Greenwich (CT), USA, May 29, 2017 – According to CW Research’s “2017 Sri Lanka Cement Market Report”, the country’s cement demand rose 13 percent per annum on average from 2010 to 2016. In the next five years, demand is expected to continue growing, albeit at a more moderate pace as public works and infrastructure investments slow.
Between 2010 and 2016, the country’s cement demand was driven by investment in infrastructure and the country’s urgency for reconstruction work after the long civil war that ended in 2009. However, demand started to slow in 2015 as the newly elected government suspended work on large-scale infrastructure projects, following corruption concerns around the tendering process involving Chinese bidders.
“The long-term and latent need for cement is clear and present in Sri Lanka; much work is still to be done after years of unrest. The challenge will be to find the fiscal strength to implement projects while relying on still largely imported cementitious materials to meet demand,” said Robert Madeira, CW Managing Director and Head of research.
In 2016, cement demand levels improved after the government announced the construction projects could proceed based on the binding nature of the Chinese construction contracts. Following the decision green-lighting work on infrastructure projects, cement demand reached approximately seven million tons.

Cement imports expected to rise due to lack of internal production
Today, Sri Lanka counts on one integrated and three grinding cement manufacturing plants, as well as several import terminals. Cement grinding capacity will increase 14 percent by 2021, but the additional cement production capacity will still be insufficient to meet domestic demand. The cement production units in the country are controlled by Tokyo Cement, HeidelbergCement, Siam City Cement and Ultratech, following recent M&A activity in the sector.
As the fourth largest cement importing market in the world, Sri Lanka receives substantial supplies of cement and clinker from multiple countries, including India, Pakistan, Indonesia, Malaysia and Vietnam. In the long run, given that no new integrated cement production capacity has been announced, manufacturers will remain dependent on imported clinker for their cement grinding operations. Consequently, Sri Lanka is expected to remain a major importer of cementitious materials in the coming years.
As Raluca Cercel, Senior Analyst with CW Research highlights: “poor limestone availability in the country is limiting the ability to effectively put in place domestic clinker production lines, leaving manufacturers subject to the fluctuations of clinker prices imported from India and Vietnam. This said, exploration work continues and the search is on for quality limestone.”
From 2016 to 2021, cement demand levels will continue to be supported by infrastructure projects and growing housing market in Sri Lanka. Construction activity is expected to grow at an annual average of eight percent over the next few years, encouraged by increasing homeownership, large government infrastructure projects, and surging demand for high-rise buildings.

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For more information, placing an order, or interview inquiries, please contact Liviu Dinu, Market Services & Marketing Consultant, CW Group, by phone at +40-744-67-44-11, or e-mail at ld@cwgrp.com.

About the Report

The Sri Lanka Cement Market Report, part of CW Research’s Cement Industry Country Report series, meet the country-level cement market research needs of small and large businesses, analysts and governments. The reports cover cement volume trends in detail, analyzing trade flows, cement demand and production (historical and a five-year outlook), per capita consumption, and the competitive landscape, including company profiles, cement production facility details, including past and announced brownfield production increases and greenfield projects. Cement Industry Country Reports also cover demand drivers, including macro-economic and construction sector dynamics, for the specific country. Industry reports are presented in an objective, easy-to-understand format, providing hard-to-find answers to top market research questions.

More information about the report can be found here: http://www.cwgrp.com/research/research-products/country-reports/product/207-sri-lanka-cement-country-report-2017

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

PO Box 5263, Greenwich, CT 06831, USA
Liviu Dinu
Market Services & Marketing Consultant
M: +40-744-67-44-11
E: ld@cwgrp.com

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