Peruvian Association of Cement Producers (Asocem), the country's domestic cement consumption reached 1.13 million tons in January 2026, an increase of 14.1% over the same period last year, setting a record for January. This achievement marks that Peru's cement demand has maintained a growth trend for 12 consecutive months, making it one of the most outstanding markets in Latin America. On the supply side, the monthly cement output was 975000 tons, up 12.45% year-on-year, and the clinker output was 742000 tons, up 23.91% year-on-year, showing the positive response of local production capacity.
Multiple factors have jointly supported this round of expansion. First of all, the active performance of the self-built housing market, especially in the northern region, has been attributed to the recovery of formal employment and the improvement of real wages. Secondly, the commercial housing market continues to be strong under the downward trend of interest rates, and the volume of mortgage loans in Lima continues to increase. Moreover, increased investment in transport infrastructure concessions – particularly the Lima Metro Line 2 – has injected public works momentum into cement demand. In addition, the low exchange rate and the relative stability of Lima cement prices (prices fell by only about 1% year-on-year in January, according to Peru's National Statistics Institute) have also reduced construction costs and stimulated the start of projects.
Looking forward to the whole year of 2026, it is expected that the growth rate of domestic cement consumption will be slightly higher than expected growth rate of 3.7% in the construction industry as a whole. However, if El Nino triggers adverse weather conditions, it may push up inflationary pressures and restrain household spending, thus weakening the financial adequacy of the self-built housing market.
At the same time, Peru's cement import and export pattern presents distinct characteristics.
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