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Continued growth in construction, petrochem sectors to boost cement demand

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Continued growth in construction, petrochem sectors to boost cement demand

By: - Reporter / @amyremoINQ
/ 12:55 AM December 31, 2016

Demand for cement within the Asean is expected to rise in 2017 on the back of sustained growth in the construction sector and an upturn in the petrochemical industry across the region, according to the head of Thailand’s Siam Cement Group.

A company stated quoted SCG president and CEO Roongrote Rangsiyopash as saying that the two industries were on the upturn, specifically for construction as “firms begin building mega projects and develop infrastructure in developing countries of the region, particularly the Philippines.”

Rangsiyopash, however, pointed out that the Philippine market had yet to show “significant signs of recovery due to more rain fall compared to the previous year, coupled with the fact that government infrastructure projects are in the process of being carried out, while the investments of the private sector have slowed down.”

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Ernesto Ordoñez, president of the Cement Manufacturers Association of the Philippines (Cemap), earlier said that as of end September this year, local cement sales showed a continued uptrend in government infrastructure spending, and the private sector’s increased contribution due to confidence in the Philippine government.

Ordoñez, however, admitted earlier that the third quarter increase in local cement sales was not as big as expected for two main reasons.

He said the weather was not favorable during the period and the country just came from a high base due to accelerated spending ahead of the 2016 elections.

As of end September this year, local cement manufacturers posted a 10-percent increase in sales to 20 million metric tons from the 18.3 million tons sold a year ago.

Cement sales in the third quarter alone, however, grew at a slower pace of 5.4 percent to 6.7 million tons, from the 6.37 millions tons sold in the same quarter in 2015.

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TAGS: ASEAN, Cemap, Cement Manufacturers Association of the Philippines, CEO Roongrote Rangsiyopash, Ernesto ordoñez, Siam Cement Group, Thailand
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