He added that tighter monetary policies, increased sea freight rates and high fluctuations in the cost of energy may result in cement producers being gradually pressured to establish higher cement prices.
Adiguzel provided a presentation on the cement sector's ‘Outlook for 2023’ at the 6th General Assembly of the WCA which took place in a fully virtual format on January 12.
He highlighted that major multinational cement companies will continue to divest cement assets in emerging markets, thus creating a unique opportunity for players in such markets, including China, to enlarge their portfolios in positive growth markets by acquiring the cheapest European cement assets.
Additionally, mid-size European cement producers may also benefit from recent de-cementation policies of global multinational cement producers to enlarge their portfolio.
“While we do not expect global cement volumes to increase, we expect prices to surge to double digits in 2023, as higher energy prices will have a serious impact on cement production costs,” Adiguzel said.
The International Cement Conference on Global Trade 2023 will be hosted by the World Cement Network (WCN), in association with WCA, and will take place from May 23-24, in person at the Hilton Bomonti, Istanbul, Turkey. The conference will focus on many of the issues highlighted by Adiguzel and include presentations, round table discussions, power lunches, open contract negotiation bids for cement clinker, plenty of networking and a Gala Dinner Event.