‘We have enough cement capacity for the next 25 years!’

During his speech, he highlighted the current state of the global cement industry, emphasising the challenges it faces. Mr. Adiguzel underlined that the industry is grappling with a significant surplus, saying: "We have enough cement for the next 25 years".

While it was anticipated that cement volumes would remain subdued, global demand has substantially weakened. Although the industry has successfully passed on the increased cost prices to its customers, particularly in mature markets in Europe (+15%), the primary challenge facing the cement industry today is meeting stringent emission targets and embracing carbon capture technologies.

"Despite our achievements, there is more work to be done in the years to come. To reach our net zero goal by 2050, we must significantly reduce carbon emissions. The technologies and mechanisms for this endeavour appear available, though currently minuscule and not economically fully feasible. Regulatory frameworks must evolve to minimise costs for end customers. Collaboration between the private and public sectors is imperative to facilitate carbon reduction", said Mr Adiguzel.

The cement industry possesses the capacity to turn waste into fuel, recycling construction and demolition waste, and utilising clinker substitutes, which are currently being under-utilised. Promoting renewable energy and market-driven carbon pricing mechanisms should drive investments in decarbonisation technologies. Coupled with increased funding for new technologies, the ultimate goal is to achieve a net zero CO₂ industry by 2050.

Mr Adiguzel stressed the urgency by stating: "The time to act is now. We possess the tools, knowledge, and commitment to transform this vision into reality. Together, we can make substantial strides towards shaping a sustainable future for the cement industry and, by extension, our planet".

Read the article online at: https://www.worldcement.com/africa-middle-east/25102023/we-have-enough-cement-capacity-for-the-next-25-years-world-cement-associations-director-stresses-at-annual-conference-in-dubai/