[Special Topic] Report on the Development of Double Carbon Road in Cement Industry (New Energy)

1. Development status

of China's cement industry (1) Global cement production

According to the statistics of China Cement Network Cement Big Data Research Institute, the world produced 4.16 billion tons of cement in 2022, down 4.23% from the same period last year, the largest decline since the beginning of this century. It was mainly affected by the sharp decline in domestic cement production in China. In 2022, foreign cement production reached 2.03 billion tons, an increase of 2.47% over the same period last year, and the growth rate slowed down significantly compared with 2021.

Figure 1: The global cement output in 2022 decreased by more than 4%

Data source: Cement Big Data (https://data.ccement.com/)

In 2022, China's cement output was 2.118 billion tons, down 10.8% year-on-year. Despite the large decline in China's cement production, the absolute volume is still large, accounting for 50.9% of the world's cement production, more than half.

Figure 2: In 2022, China's cement production accounted for more than half

of the world's data source: Cement Big Data (https://data.ccement.com/)

(2) China's cement production is still at a high plateau

after China joined the WTO in 2001. Opening to the outside world has entered a new stage, the economy has shown a trend of high growth, and the consumption of cement has increased steadily. After the outbreak of the international financial crisis in 2008, the investment in fixed assets grew rapidly under the stimulation of the government's strong economic policies, which strongly supported the domestic demand for cement. Cement production continued to increase and reached a peak of 2.49 billion tons in 2014. After 2015, it entered a plateau period, and cement production basically maintained at more than 2.1 billion tons. In 2022, affected by the sharp decline in real estate investment, cement production declined synchronously to 2.118 billion tons, and China's cement production is still at a high plateau.

Figure 3: China's cement production is still at a high plateau

Source: Cement Big Data (https://data.ccement.com/)