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Cement Sector: China Confronts Challenges, Bharat Sails Towards Steady Growth, Says Fitch Ratings

In the world of making concrete, China and Bharat are dealing with different situations because of their economies.

Editor Ritam English by Editor Ritam English
Dec 12, 2023, 11:58 am IST
Cement Sector: China Confronts Challenges, Bharat Sails Towards Steady Growth, Says Fitch Ratings

Cement Sector: China Confronts Challenges, Bharat Sails Towards Steady Growth, Says Fitch Ratings

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In the world of making concrete, China and Bharat are dealing with different situations because of their economies. Fitch Ratings, a company that analyzes and rates financial markets, says that China might face some tough times in 2024 because the property sector is not doing well. On the other hand, Bharat’s cement industry looks more positive, expecting a steady increase in demand.

For China, there are problems in the property sector, which is affecting the need for cement. The government is also facing challenges in financing and selling land, making it hard to invest in important projects. Despite these issues, Fitch suggests that the companies making cement might still do okay, and there could be some stability in their profits, even though the top five producers saw a 3% drop in profits in the third quarter of 2023.

Fitch also thinks that in 2024, smaller and less profitable cement producers might leave the market because of reduced capacity. The government’s rules about how much cement can be produced and efforts to make the industry more environmentally friendly are expected to reduce overall production capacity in the medium term.

In Bharat, things look better for the cement industry. Fitch predicts a growth rate of 6% to 8% in the demand for cement in the coming years. This growth is driven by government spending on infrastructure and affordable housing projects. The recovery in urban housing is also adding to this positive trend throughout 2024.

While Bharat plans to double its cement production capacity in the next five years, Fitch thinks the top five cement companies will lead this expansion. They might also join forces through mergers and acquisitions. However, Fitch warns that even with all this growth, the companies might focus more on keeping their market share than making bigger profits, especially after energy prices go back to normal after 2022.

Tags: India's growth in 2024FitchIndo-ChinaFitch RatingsCement SectorCement
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