The German cement industry’s attention is firmly fixed on energy efficiency, alternative fuels and lower CO2 emissions. Renewable energy, digitalisation and carbon capture will be the next significant steps it takes to improve performance and usher in the age of green cements.
Like all European countries, Germany’s economy is expected to reel from the effects of the Russia-Ukraine war, the increase in energy prices and rising inflation. However, being one of the stronger European economies, the IMF has forecast GDP growth of 1.2 per cent in 2022, and Bundesbank projections in June forecast growth of 1.9 per cent. At the same time, the central bank revised its average inflation rate for 2022 to 7.1 per cent while in July 2022 the IMF forecast a rise in the inflation rate to 7.7 per cent.
