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Introduction....................5
Executive summary...............6
The construction sector.............8
Figure: Economy and population.........8
Construction sector.................9
Figure: Construction sector and the economy..10
Residential Market................10
Commercial Market...............11
Public Works...................11
Figure: Construction segment split.......12
Cement market.................13
Overview.....................13
Figure: Cement plant locations.........13
Competitive dynamics................15
Energy pressures................16
Figure: Fuel consumption profile (2005-2010).17
Table: Energy consumption (2005-2010)...17
Figure: Coal Prices Northwest Europe marker price.................18
Figure: Petcoke prices (1986-2010).......19
Table: Cement groups, capacity and plants (2010)..................20
Incumbent operations...............20
Buzzi Unicem...................20
Calme.......................22
Cementir Italia.................23
Colacem.....................24
Holcim Italy....................25
Italcementi...................26
Sacci......................27
Market shares..................28
Figure: Share of nameplate capacity......28
Figure: market share, ex-imports.......29
Figure: market share, incl. imports.......30
Figure: Import share..............31
Capacity expansions...............32
Figure: Notable upgrades...........32
Demand and supply...............34
Cement demand...................34
National......................34
Table: Consumption per capita (2005-2010)..34
Figure: 2005-2011E cement demand......35
Regional.....................35
Figure: Distribution channels (2005-2010)...36
Demand segments...............36
Figure: Bag vs bulk Distribution (2005-2010).37
Cement types...................38
Figure: Cement types produced (2005-2010)..39
Figure: Cement types produced (2005-2010)..40
Cement prices.................40
Figure: Material prices (Jan 2009 – Mar 2011).....................41
Cement supply...................42
National......................42
Figure: 2005-2010E annual cement production.....................42
Regional.....................42
Jan – May 2011..................43
Figure: Cement production (Jan 2011 – May 2011)..................43
Figure: May YTD 2011 vs. 2010 cement production..................44
Seasonality....................44
Figure: Production seasonality (2005-2010)..45
Production capacity...............46
Figure: Southern region production share....46
Figure: Northwestern region production share.47
Figure: Northeastern region production share.47
Figure: Central region production share.....48
Figure: Island region production share.....49
Figure: 2010 production capacity utilization by region.................50
Import and export activities............50
Figure: Cement imports and exports......51
Exports.....................51
Figure: Cement exports: product types and evolution.................52
Figure: Cement export countries........53
Imports.....................53
Figure: Cement exports: product types and evolution.................54
Figure: Cement import countries........55
Outlook......................56
Figure: Apparent cement demand projection (2005-2015)................56
Figure: Apparent cement demand projection (2005-2015)................57
Figure: Growth in apparent cement demand (2006-2015)...............58
Next steps....................59
Data tables...................60
Supply-demand balance (2005 – 2010E, mm tons)....................60
Imports by cement type (2005 – 2010E, tons)...61
Cement import countries (2005 – 2010E, tons)..62
Exports by cement type (2005 – 2010E, tons)..63
Cement export countries (2005 – 2010E, tons)...64
Table: Cement plants by group and region....65
Table: Capacity by cement plant (2010)......67
Disclaimers 69
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