cement has attracted much attention from practitioners and investors. As an indispensable part of economic development, the dynamics of the cement industry have a profound impact on the upstream and downstream industrial chain, and also reflect the macroeconomic trend. Shrinking
demand has become a foregone
conclusion. Since 2022, the real estate industry has entered a stage of deep adjustment. Housing enterprises are generally short of funds. The focus of their work is mainly on digesting stock projects. The ability and willingness to invest in land acquisition are insufficient. At the same time, the government took the initiative to reduce the supply of land in order to stabilize the fluctuation of the real estate industry. Under the background of weak supply and demand, the land transfer income of local governments has been declining year after year. According to the Ministry of Finance, the revenue from the transfer of state-owned land use rights in local government funds in 2024 was 4869.9 billion yuan, down 16% from the previous year. Local land transfer revenue in 2024 is about 3.8 trillion yuan less than high level in 2021. In terms of
infrastructure, in recent years, investment in roads and public facilities has shown negative growth, which has dragged down the demand for cement. The overall growth rate of infrastructure investment is mainly supported by infrastructure sub-items such as electricity, heat and water conservancy, while the cement consumption per unit investment in these industries is low, and the increment is not enough to make up for the demand gap, which is the main reason for the significant weakening of the limitation of infrastructure indicators.
To sum up, real estate investment is difficult to return to positive, the degree of infrastructure pull is limited, and cement demand is expected to continue to decline in 2025. Cement production is expected to decline by 5% -8% in 2025 compared with the same period last year, and the decline will be narrowed.
Industry difficulties continue to deepen
, overcapacity leads to intensified market competition, rising environmental protection and energy costs reduce profit margins, and the survival difficulties of small and medium-sized enterprises accelerate industry reshuffle. Cement Big Data Research Institute estimates that the total profit of the cement industry in 2024 will be around 16 billion yuan (excluding non-cement business such as aggregates and overseas cement profits), and most enterprises have fallen into a loss situation.
In this context, cement enterprises are facing unprecedented pressure to survive, and the transformation and upgrading of the industry is imminent. Only through technological innovation, management optimization and business transformation, can we find new development opportunities in this industry transformation. On March 13-14,
2025, China Cement Network will hold the 14th China Cement Industry Summit and TOP100 Award Ceremony in Hangzhou . At the same time, the "50 People Forum on Cement Economy" was held . This summit will bring together industry elites and multi-resources to discuss and deal with the difficulties faced by the industry from the perspectives of optimal allocation of supply side, precise docking of demand side, deep insight into macro-economy and frontier promotion of technological innovation, and jointly create a new chapter for the industry!
