RSSOver the four years from 2014 to 2017, the higher demand for cement in the Philippines will be met as the expansion of cement plant capacity is projected to increase steadily.
This was according to a survey by University of Santo Tomas' Professor Antoinette Rosete, using published sources.
As projected by Professor Rosete, domestic cement demand is expected to continue growing over the four years to come, to 27 million tonnes in 2017.
The study showed that the growth in cement plant capacity will likely reach over 38 million tonnes in 2017, meaning that domestic cement supply will be sufficient since just 71% of cement plant capacity will be used for the projected 27 million tonnes of cement demand.
CeMAP members are positive that local demand for cement and other construction materials will rise as the government has boosted its spending for infrastructure projects, with a budget of PHP 296.70 billion (€4.95 billion) for infrastructure.
In 2013, local cement makers reported a sales growth of 5.9%. During the year, the cement industry's operating rate stood at 69% of capacity, which means there is still sufficient space for higher production to meet higher cement demand in the years to come, said CeMAP president Ernesto M Ordoñez.
