China will drag down average cement consumption growth over the next five years, as the country continues to battle overcapacity, counterbalancing a rosier outlook elsewhere.
Construction sector growth in Indonesia is expected to grow strongly to 2021 – but the cement sector will remain plagued by overcapacity.
Thailand-based The Siam Cement Public Co. is to invest in a logistics joint venture company alongside the Barito Group in Indonesia.
Asian cement production grew in the first four months of the year on good performance in China, Thailand, and Vietnam, while in Latin America and the Mediterranean Basin, producers struggled.
Earnings from Bankok-based Siam Cement Group’s cement and building materials business were down in 4Q16 on weak demand in its home market.
Sales of cement in Indonesia were down year on year in November 2016, but remained up across the year as a whole.