Southern Asia: Cement Market 2024

Cement Market Size in Southern Asia

The South Asian cement market shrank slightly to $X in 2022, reducing by -1.7% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cement Production in Southern Asia

In value terms, cement production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 6.5%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cement Exports

Exports in Southern Asia

For the sixth year in a row, Southern Asia recorded decline in shipments abroad of cement, which decreased by -37.9% to X tons in 2022. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by 4.9%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cement exports dropped markedly to $X in 2022. Over the period under review, exports showed a deep downturn. The smallest decline of -0.4% was in 2013. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Pakistan was the major exporter of cement in Southern Asia, with the volume of exports reaching X tons, which was near 68% of total exports in 2022. It was distantly followed by India (X tons) and Bhutan (X tons), together constituting a 30% share of total exports. Bangladesh (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cement exports from Pakistan stood at -13.0%. Bhutan (-1.3%), Bangladesh (-8.4%) and India (-8.6%) illustrated a downward trend over the same period. India (+6.6 p.p.) and Bhutan (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -11.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Pakistan ($X) remains the largest cement supplier in Southern Asia, comprising 63% of total exports. The second position in the ranking was held by India ($X), with a 26% share of total exports. It was followed by Bhutan, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in Pakistan stood at -14.6%. The remaining exporting countries recorded the following average annual rates of exports growth: India (-8.6% per year) and Bhutan (-4.8% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 30% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Bangladesh ($X per ton) and Bhutan ($X per ton), while Pakistan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (-0.9%), while the other leaders experienced a decline in the export price figures.

Cement Imports

Imports in Southern Asia

In 2022, imports of cement in Southern Asia dropped sharply to X tons, which is down by -25.7% on 2021. In general, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 23% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cement imports dropped markedly to $X in 2022. Over the period under review, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Afghanistan represented the largest importing country with an import of around X tons, which finished at 52% of total imports. Sri Lanka (X tons) held a 28% share (based on physical terms) of total imports, which put it in second place, followed by India (13%) and Maldives (5.1%).

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +6.9%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest cement importing markets in Southern Asia were Afghanistan ($X), Sri Lanka ($X) and India ($X), with a combined 92% share of total imports. These countries were followed by Maldives, which accounted for a further 4.6%.

In terms of the main importing countries, Maldives, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with an increase of 14% against the previous year. In general, the import price, however, saw a slight decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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