Cement consumption in Spain has increased by 2.9 per cent YoY to 14,880,019t, according to the latest data by Oficemen. The final total is similar to Spanish demand in 2021-22. The first nine months of 2024 saw a growth deficit but in October the tide turned when demand increased by 1.3 per cent for the first time in the year. In December alone, consumption advanced by 10.4 per cent to 1,168,767t when compared with the year-ago period.
"This growth of 2.9 per cent in 2024 corroborates the positive progression that cement consumption has experienced in our country during the second half of the year, after a few months of starting in the red, as we predicted at the beginning of the year,” explains Oficemen President, Alan Svaiter.
In terms of market segments, in the 9M24, 46 per cent of product was sold to the public works sector and 54 per cent to the construction segment, including residential (33 per cent), non-residential (13 per cent) and rehabilitation (eight per cent).
External trade
However, exports have fallen by 8.3 per cent in 2024 to 4.82Mt from 5.26Mt in 2023. Imports increased by 37.6 per cent YoY to 1.37Mt.
Positive outlook
Construction permits from the Ministry of Transport show that permits by surface area have increased by 8.1 per cent with 107,098 homes approved in the period up to October. It is estimated that in 2024 the units to be built will surpass 125,000, a 15-year high. By 2025 the number of housing starts is forecast to least at least 130,000 units while the outlook for other types of construction is also positive with a forecast of at least 6.1mm2 approved.
“With these data, our estimates indicate that cement consumption could grow by around five per cent in 2025. It is worth remembering that cement consumption in our country will remain around 15Mt for the seventh consecutive year,” said Mr Svaiter.
