Greece: Cement Market 2024

Cement Market Size in Greece

The Greek cement market surged to $X in 2022, jumping by 53% against the previous year. Overall, consumption, however, saw a perceptible downturn. Cement consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cement Production in Greece

In value terms, cement production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Cement Exports

Exports from Greece

Cement exports from Greece dropped to X tons in 2022, with a decrease of -9% on the year before. In general, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.6% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 54%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cement exports skyrocketed to $X in 2022. Overall, total exports indicated a strong increase from 2012 to 2022: its value 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, exports increased by +49.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 47%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for cement exports from Greece, accounting for a 68% share of total exports. Moreover, cement exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+13.3% per year) and Italy (+2.9% per year).

In value terms, the United States ($X) remains the key foreign market for cement exports from Greece, comprising 59% of total exports. The second position in the ranking was held by the UK ($X), with a 13% share of total exports. It was followed by Italy, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+15.6% per year) and Italy (+6.3% per year).

Export Prices by Country

The average cement export price stood at $X per ton in 2022, with an increase of 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to the United States ($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 Egypt (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cement Imports

Imports into Greece

In 2022, the amount of cement imported into Greece reached X tons, with an increase of 9.2% on the year before. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 122%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, cement imports rose markedly to $X in 2022. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 101% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of cement to Greece, accounting for a 83% share of total imports. Moreover, cement imports from Turkey exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold. Bulgaria (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+16.1% per year) and Bulgaria (-6.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of cement to Greece, comprising 77% of total imports. The second position in the ranking was held by Egypt ($X), with an 8% share of total imports. It was followed by Bulgaria, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+24.8% per year) and Bulgaria (-6.6% per year).

Import Prices by Country

The average cement import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 13%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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