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Global White Cement Market and Trade - 2019 Update November 21, 2019 Webinar presentation CW Group LLC | T: +1-702-866-9474 | F: +1-928-832-4762 | Connecticut, USA
Global White Cement Market
and Trade - 2019 UpdateNovember 21, 2019
Webinar presentation
CW Group LLC | T: +1-702-866-9474 | F: +1-928-832-4762 | Connecticut, USA
Client Confidential Information
2
Agenda
▪ Introduction
– About the presenters
– About the CW Group
– About the GWCTR
▪ GWCTR Highlights - 2019 Update
– Macro economic outlook
– Capacity
– Supply
– Demand
– Trade
Client Confidential Information
Presenters
3
▪ Responsible for providing qualitative and quantitative analysis for
CW Research. Manages BD for research and consulting projects
in Middle East, Asia, and Africa.
▪ Bachelor’s Degree in International Business and Economics from
Saint Peter’s University, New Jersey, US and a Master of Science
degree in International Business from Seton Hall University, New
Jersey, USA
Carolina PereiraBusiness Analyst
M:+351 917 314 391
▪ Responsible for the qualitative and quantitative analysis for CW
Research's price and volume assessments in the building
material and heavy industrial sectors. Leads the Porto office
▪ Degree in Management from Coimbra Business School, Portugal
Juliana VieiraJunior Business Analyst
M:+351 918 285 753
▪ Executes quantitative analysis for CW Research's price and
volume assessments in the building material and heavy industrial
sectors. Experience in Cement industry.
▪ Degree in International Relations from ESPM, Rio de Janeiro,
Brazil
Prashant SinghAssociate Director
M:+91 887 960 7047
Client Confidential Information
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About the CW Group
CEMENT, BUILDING
MATERIALS &
CONSTRUCTION
STEEL, METALS &
MINING
CHEMICALS DRY BULK CARGO,
PORTS AND
INFRASTRUCTURE
POWER, ENERGY
AND SOLID FUELS
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technicalNetwork & access Proprietary data
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SUPPORTMEDIA & MEETINGS
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industry study reports
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assessments
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Global White Cement Market and Trade Report (GWCTR)
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▪ Examines the worldwide white cement industry and
presents the latest market data
▪ Covers consumption and production figures, import
and export data as well as pricing trends and white
cement capacity developments
– 5-year projection of global white cement
consumption through 2024
– Worldwide white cement plant production
facilities
▪ Extensive quantitative information on consumption,
usage segments, production, local prices, regional
benchmark trade prices, trading facilities and trade-
flows, by region and major country
For more details visit:
https://www.cwgrp.com/research/research-
products/cement/product/290-global-white-cement-market-and-trade-
report-2019-update
▪ Release
– November 2019
▪ Price
– Individual: US$4,150
(Electronic, PDF)
Client Confidential Information
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Highlights: Global White Cement
Market and Trade Report
Client Confidential Information
The IMF has been continuously downgrading is outlook on global
economic growth since the start of 2019
• Slowdown in the German economy and
impact of Brexit uncertainty
• Economies undergoing strong shocks
such as Argentina and Turkey are
dragging down the emerging market
cluster
• Crippling US sanctions on Iran and
conflicts in Syria and Yemen
• Slowdown of the US economy, impact of
US-China trade war
Source: International Monetary Fund: World Economic Outlook
• Increasing trade friction and slowdown of
key markets such as China and India
3.0%
1.7%
1.2%
3.9%
0.9%
3.2%
0.0% 2.0% 4.0% 6.0%
World
Advanced economies
Euro area
Emerging market anddeveloping economies
Middle East, North Africa,Afghanistan, and Pakistan
Sub-saharan Africa
Jan-19 Apr-19 Jul-19 Oct-19
World Economic Outlook (GDP growth rate %)
Client Confidential Information
North America is expected to see the most significant addition to its
white cement capacity of the past two decades
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Regional distribution of white cement capacity
25.0
27.0
29.0
31.0
33.0
35.0
37.0
25.0
37.0
Client Confidential Information
Cementir, Cimsa and LafargeHolcim represent a quarter of the global
white cement capacity
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Top ten white cement companies (2019E)
OtherCementir
Cimsa
LafargeHolcim
Cemex
JK Cement
HeidelbergCement
RAK White Cement
Saudi White CementUltratech Sotacib
Biggest capacity:
• Sinai White Cement plant in Egypt
• Aalborg Portland plant at Denmark
Biggest capacity:
• Cimsa plant in Mersin, Turkey
• Cimsa plant in Buñol, Spain
Biggest capacity:
• Ciment Blanc d'Algerie in Algeria
• Lafarge plant in Le Teil, France
Client Confidential Information
Globally, white cement production growth has tapered off and
reached a plateau from 2014 to 2019E
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Global white cement production (million tons)
2009 2014 2015 2016 2017 2018 2019E
North America
Latin America
Africa
E Europe & CIS
Asia ex-China
Middle East
Western Europe
China
2.1%0.1%
Client Confidential Information
Both FOB and CIF prices in 2019 (as of 2Q) have shown stability
since 2018 reaffirming existing supply and demand patterns
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Global white cement trade overview
France CIF
Price: $115
USA CIF
Price: $130
Spain FOB
Price: $99
Turkey FOB
Price: $83
Client Confidential Information
12
Asia Ex-China has an emerged as a growth region alongside W.
Europe and N. America
Global White Cement Consumption (million tons)
2009 2014 2015 2016 2017 2018 2019E
Latin America
E Europe & CIS
Africa
North America
Western Europe
Asia ex-China
Middle East
China
1.6% 0.5%
Client Confidential Information
Global white cement per capita consumption is stable at an estimated
2.8 kg per person – W. Europe had the highest CAGR at 6%
13
Global white cement market: X axis: per capita white cement consumption (kg); Y axis: demand CAGR
‘14-’19 (%); Size of bubble is demand in mn tons
China
Middle East
Asia ex-China
Western Europe
North America
Africa
E Europe & CISLatin America
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
-2 0 2 4 6 8 10 12 14 16 18
Client Confidential Information
Global demand is expected to recover to a CAGR of 2%, reflecting a
recovery in E. Europe & CIS, and sustained growth in Asia ex-China
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Middle East
Regional consumption for white cement until 2024F (CAGR %)
North America
Eastern Europe & CIS
4.1%
Asia Ex-China
Western Europe
0.7%
China
0%
1.7%
1.1%Latin America
1.2%
1.9%
Africa
2.9%
Client Confidential Information
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Final remarks
Client Confidential Information
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Final Remarks
▪ Despite economic headwinds, global white cement market has
remained remarkably resilient.
▪ Minimal capacity additions for the forecasted period leading to
higher utilization rates
▪ Cementir, Cimsa and LafargeHolcim account for a quarter of the
global white cement capacity
▪ Regardless of the North America expected capacity addition by
US Cement, the region it is expected to remain a net-importer
▪ Global demand is expected to recover to a CAGR of 2%, reflecting
a recovery in E. Europe & CIS, and sustained growth in Asia ex-
China
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Questions?
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Contact us to discuss further: [email protected]
Prashant Singh
Associate Director
Carolina Pereira
Business Analyst
Juliana Vieira
Junior Business Analyst
About CW ResearchCW Research is a leader in syndicated and data-driven market research solutions. The company offers independent
perspectives on multiple industrial market segments(e.g., cement, metals & minerals, and specialty chemicals) and
deep functional expertise in market intelligence, sourcing intelligence, commodity pricing intelligence.
CW Research also provides custom industry and competitive research programs for operating companies, financial
analysts, consultants, governments, suppliers and many others as well as tailored studies together with CW Advisory.
For more information: research.cwgrp.com.
About CW AdvisoryCW Advisory is a global consultancy specializing in M&A and transaction advisory, strategic advisory, management and
operations consulting. Our deep sector expertise covers industrial, cyclical, utility and infrastructure.
CW Advisory works with boards and senior management addressing the most complex issues, including those in
functional areas spanning the value chain, including fuels & energy, logistics, organizational, operational due diligence,
feasibility assessments, among others.
CW Advisory is part of the CW Group, a leading advisory, research and media boutique aligned along three pillars:
Advisory, Research and Media, with headquarters in Greenwich, Connecticut, USA.
For more information: advisory.cwgrp.com
CW Group LLCPO Box 5263, Greenwich,
CT 06831 USA
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F: +1-928-832-4762
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