In the 2021 – 2025 timeframe the global cement market (ex-China) is expected to show an annual growth rate of between 2.5% and 3.0%. China is expected to grow at a lower rate.
Global cement utilization rates are not expected to go beyond 60% during this period. Our estimates for 2021 show that global cement consumption ex-China grew by almost 6.5% in 2021. This represents a strong recovery over 2020. As a result global utilization rates improved from 55% in 2020 to 58% in 2021.
At the same time, cement milling capacity increased by just under 3% (2021 over 2020). The total number of cement plants in 2021 ex-China was close to 1,960 (around 30% of which were grinding plants).
The information above comes from the CemBR Forecasts report that we recommend every cement professional invests in having. CemBR releases once per year covering 60 markets and it has global, regional, and country-by-country five year forecasts. The current edition covers forecasts up until 2025.
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