Brazil is the largest cement producer in South America and the seventh largest in the world. In the first half of 2024, the Brazilian government promoted the implementation of the growth acceleration plan (PAC) and the civilian housing plan of the Minha Casa Minha Vida ( "My Home, My Life" plan, referred to as MCMV), which led to the turnaround of the Brazilian cement industry and the recovery of cement demand. Sales volume of cement in
Brazil increased
From January to June 2024, the sales volume of cement in Brazil was 30.595 million tons, representing a year-on-year increase of 1.2%. Driven by the Brazilian government's MCMV civilian housing program, the launch and sales of residential properties in Brazil increased in the second quarter of 2024, with MCMV alone increasing by 86.7% over the same period last year. In addition, sales of building materials and real estate financing in Brazil are also on the rise. The MCMV housing program has become an important driver of cement sales growth in Brazil.