Morocco cement market & forecast (2012 update)

Table of Contents

Introduction......................................................................................4

Executive summary.......................................................................5

The economy and the construction sector..............................7

Economy..............................................................................................8

Figure: Economy and population.....................................................8

Construction sector...........................................................................10

Figure: Construction sector and the economy..............................10

Housing Market.............................................................................10

Infrastructure Spending.................................................................11

Projects..........................................................................................12

Table: Construction sector importance and growth.....................12

Cement market.............................................................................13

Market overview................................................................................13

Figure: Principal existing Plants...................................................15

Incumbent operations.........................................................................16

Lafarge Ciments............................................................................16

Ciments du Maroc.........................................................................18

Holcim Maroc................................................................................20

Cimpor (Asment de Temara).........................................................21

Ciments de l’Atlas (CIMAT)..........................................................21

Figure: Cement plant locations.....................................................23

Demand and supply.....................................................................24

Figure: 2005-2011 cement supply-demand balance....................24

Demand..............................................................................................24

Figure: 2005-2011E cement demand............................................26

Figure: 2011 channel mix..............................................................27

Cement trade......................................................................................28

Figure: Cement imports and exports............................................28

Imports...........................................................................................28

Figure: Cement & clinker imports: product types and evolution..29

Figure: Cement & clinker import countries...................................30

Figure: Import share......................................................................31

Exports...........................................................................................32

Figure: Cement Exports: product types and evolution..................32

Figure: Cement & clinker import countries...................................33

Cement supply...................................................................................34

Figure: Share of nameplate capacity............................................34

Regional perspective.....................................................................35

Cement output................................................................................37

Figure: 2005-2011E annual cement production............................37

Figure: Capacity utilization (2006-2011E)....................................38

Expansion and greenfield projects....................................................39

Figure: Major upgrades and new plants........................................39

Figure: Nameplate cement production capacity (2005-2015E)....40

Figure: Cement production capacity (2005-2015E)......................41

Competitive dynamics........................................................................42

Figure: Market share.....................................................................43

Cement prices...............................................................................44

Figure: 2006-2010 indicative cement prices................................45

Outlook............................................................................................47

Figure: Apparent cement demand projection (2005-2015)...........47

Figure: Growth in apparent cement demand (2006-2015)............48

Figure: Capacity utilization (2006-2015E)....................................49

Next steps......................................................................................50

Data tables.....................................................................................51

Supply-demand balance (2005 – 2010E, mm tons)...........................51

Supply capacity market share (2009-2015E, %)...............................52

Imports by cement type (2005 – 2010E, tons)...................................53

Cement import countries (2005 – 2010E, tons)..................................54

Exports by cement type (2005 – 2010E, tons)..................................55

Cement export countries (2005 – 2010E, tons).................................56

Table: Cement plant capacities (2005 – 2015E, mm tons).................57

Disclaimers....................................................................................58

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60

Electronic (PDF)

USD1790

March 2012