Republic Cement projects 12% industry growth in 2021 led by bagged cement

Republic Cement has said that it expects the cement sector in the Philippines to grow strongly in 2021 following a 10% decline in demand in 2020.

“We strongly believe that we will get back to the 2019 level in 2021. That means 12% growth compared to 2020… The main driver is the bagged cement segment, with infrastructure and the non-residential, likely to grow less rapidly,” said President and Chief Executive officer Nabil Francis.

He added that the industry is expected to sell 35Mt of cement during 2021 and that the drop in demand in 2020 was actually less severe than the expected 15%.

Francis also said that he welcomed the Department of Trade and Industry’s investigation into the alleged dumping of cement into the Philippines from Vietnam, saying the imported cement is sold at very low prices, its production having been subsidized by the Vietnamese government.

He said the influx of imported cement has injured the local industry.

SOURCE: Global Cement