China: Cement Market 2024

Cement Market Size in China

The Chinese cement market stood at $X in 2022, increasing by 2.2% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Cement Production in China

In value terms, cement production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Cement Exports

Exports from China

For the fifth consecutive year, China recorded decline in shipments abroad of cement, which decreased by -8.4% to X tons in 2022. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 51%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cement exports soared to $X in 2022. In general, exports recorded a deep downturn. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for cement exports from China, with a 17% share of total exports. Moreover, cement exports to Myanmar exceeded the volume sent to the second major destination, Guinea (X tons), threefold. Mongolia (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar totaled +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+0.8% per year) and Mongolia (-27.1% per year).

In value terms, Myanmar ($X) remains the key foreign market for cement exports from China, comprising 21% of total exports. The second position in the ranking was held by Guinea ($X), with a 5.2% share of total exports. It was followed by Japan, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+6.1% per year) and Japan (-5.8% per year).

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, jumping by 29% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement export price increased by +104.5% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 29% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cement Imports

Imports into China

After four years of growth, supplies from abroad of cement decreased by -33.8% to X tons in 2022. In general, imports, however, posted a significant increase. The growth pace was the most rapid in 2018 when imports increased by 3,421%. Imports peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, cement imports declined significantly to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 276% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

In 2022, Vietnam (X tons) was the main cement supplier to China, accounting for a 91% share of total imports. Moreover, cement imports from Vietnam exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to +146.0%.

In value terms, Vietnam ($X) constituted the largest supplier of cement to China, comprising 88% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam stood at +137.6%.

Import Prices by Country

In 2022, the average cement import price amounted to $X per ton, surging by 9.3% against the previous year. Over the period under review, the import price, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when the average import price increased by 152%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-3.4%).

Source: IndexBox Platform

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