Spanish cement industry witnesses sixth consecutive year of double-digit decline

Spain’s cement association, Oficemen, has announced that domestic cement consumption fell by 19.2% y/y to 10.98 million t in 2013. Production levels were also lower than the previous year, dropping from 15.47 million t in 2012 to 13.17 million t in 2013. The figures mark the sixth consecutive year of double-digit decline since the economic crisis. Cement producers have been attempting to offset falling domestic demand by focusing on exports, which increased by an average of 34% in January – September 2013. However, export growth began to slow in 4Q13, dropping by 12% y/y.

In terms of end use, housing accounted for 19% of domestic cement consumption in 2013, non-residential building for 24% and civil works for 57%.

In December 2013 alone, consumption on the national market was down by 7% y/y and production levels came in at 3.3% lower than in December 2012.

Forecasts for the Spanish cement industry in 2014 are not particularly optimistic, with consumption expected to fall by 7 – 8%.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/europe-cis/28012014/spanish_cement_sector_experiences_another_year_of_double_digit_decline_661/