Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Europe Cement Industry Market Size & Forecast by Value and Volume Across 50+ Market Segments by Cement Products, Distribution Channel, Market Share, Import Export, End Markets - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
The cement industry in Europe is expected to grow by 3.4% on an annual basis to reach US$33,769.9 million in 2023.
The medium to long term growth story in region remains intact. The cement industry in is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 3.2% during 2023-2027. The cement output in the is expected to increase from US$32,674.4 million in 2022 to reach US$38,269.8 million by 2027.
The Russia-Ukraine conflict is projected to keep impacting the consumption of cement in Europe in 2023. The consistent increase in interest rates is bringing an end to the long-running housing booms. In Russia, where sanctions are having a greater impact, cement demand is projected to report a sharp decline in 2023. While energy prices are set to decline over the next 12 months, cement prices are projected to increase in 2023. This will further impact cement consumption in many European markets.
Although the macroeconomic factors are projected to affect the cement industry growth in 2023, innovation in the sector is expected to continue over the next 12 months in Europe. Government institutions, such as in Ireland, are introducing policy measures that specify the usage of low-carbon construction methods and low-carbon cement for construction projects in 2023 and beyond.
The Irish government has also pledged to support the research and development efforts of cement and construction material companies. This will keep driving further innovation and investment in the sector over the next three to four years.
European cement manufacturers are launching innovative products to reduce carbon emissions
Cement is one of the biggest contributors to global carbon dioxide emissions. As a result, many government institutions and cement manufacturers are looking for solutions that can reduce carbon emissions. This has resulted in growing investment in the sector, thereby leading to new product launches.
In November 2022, Ecocem, the leader in low-carbon cement technology, announced the launch of an alternative materials-based cement ingredient. According to the firm, the technology is capable of reducing carbon dioxide emissions from cement production by 70%.
The technology is globally scalable and the firm is planning to achieve full commercial availability across all of its markets, including France, Ireland, Benelux, and the United Kingdom by 2025. As the technology can be easily deployed in existing cement plants without significant investments, The analyst expects a widespread usage of the technology in the European markets over the next three to four years.
In October 2022, the firm also entered into a strategic collaboration with Saint-Gobain to fast-track the development of its low-carbon cement technology. Notably, Saint-Gobain has increased its stake to 25% in Ecocem over the years. With Saint-Gobain committed to achieving carbon neutrality by 2050, this extended partnership with Ecocem will assist the firm in reducing its carbon emissions.
Cement prices are projected to further increase in Europe in 2023
In 2022, cement prices recorded a significant increase in prices, owing to higher energy costs, the Russia-Ukraine conflict, and a consistent increase in interest rates from the central bank. Even though energy prices have started to decline in Europe, cement prices, along with the prices of concrete and bricks are set to increase in 2023.
The increase in cement prices will have an impact on the total sales of cement manufacturers, therefore, resulting in a lower bottom line. However, public spending on infrastructure projects, which is projected to increase in 2023, will lead to a recovery in cement consumption across different European markets over the next 12 months.
Construction firms are forging strategic alliances to use clinker-free cement for residential and commercial construction works
With the aim to decarbonize the construction sector, construction firms are forging strategic alliances with cement providers that are committed to reducing carbon emissions in the construction industry.
In December 2022, Entreprise de Construction et Batiment du Littoral (E.C.B.L), a general construction firm based in France, announced that the firm had entered into a strategic alliance with Hoffman Green Cement Technologies, an industrial player that is committed to decarbonizing the construction sector. Under the partnership, Hoffman Green Cement Technologies will supply clinker-free decarbonized cement to E.C.B.L over the next three years, which the firm will use for the construction of residential and commercial buildings.
From the short to medium-term perspective, The analyst expects Hoffman Green Cement Technologies to forge more such strategic alliances with general construction companies, thereby assisting the construction firms to reduce their carbon emissions in Europe.
A Bundled Offering: 1 Regional Report and 10 Country Reports
- Europe Cement Business and Investment Opportunities (2018-2027) Databook
- Germany Cement Business and Investment Opportunities (2018-2027) Databook
- United Kingdom Cement Business and Investment Opportunities (2018-2027) Databook
- Russia Cement Business and Investment Opportunities (2018-2027) Databook
- France Cement Business and Investment Opportunities (2018-2027) Databook
- Italy Cement Business and Investment Opportunities (2018-2027) Databook
- Netherlands Cement Business and Investment Opportunities (2018-2027) Databook
- Spain Cement Business and Investment Opportunities (2018-2027) Databook
- Switzerland Cement Business and Investment Opportunities (2018-2027) Databook
- Poland Cement Business and Investment Opportunities (2018-2027) Databook
- Greece Cement Business and Investment Opportunities (2018-2027) Databook
Report Scope
By Cement Markets, 2018-2027
- Residential Buildings
- Non-Residential Buildings
- Infrastructure & Other Markets
By Cement End-user, 2018-2027
- Ready-Mix Concrete Producers
- Consumers
- Concrete Product Manufacturers
- Other End-users
By Distribution Channel, 2018-2027
- Direct Channel
- Indirect Channel
By Cement Product, 2018-2027
- Portland cement
- Blended Cement
- Type IS (X), Portland-Slag Cement
- Type IP (X), Portland-Pozzolan Cement
- Type IL (X), Portland-Limestone Cement
- Type IT, Ternary Blended Cement
- Specialty Cement
- Rapid Hardening Cement
- High Alumina Cement
- White Cement
- Sulphate Resistant Cement
- Others
- Green Cement
For more information about this report visit https://www.researchandmarkets.com/r/m2s4cp
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