The import of articles of cement, concrete, or artificial stone to Indonesia has experienced notable fluctuations over the years. From 2013 to 2015, there was a significant surge, peaking in 2015. Despite a major dip in 2016, the trend shifted upward again, with values mostly increasing yearly since then. Situated at 137.65 million USD in 2023, the market saw a moderate YoY growth of 5.18%. Over the past two years, growth rates were 11.13% in 2022 and 21.36% in 2021. The last five years’ CAGR was 4.48%, demonstrating steady growth amidst some annual variances.
Future trends to watch for include:
• Sustained annual growth, projected at a 3.6% CAGR over the next five years, with an anticipated 19.37% cumulative rise by 2028.
• Potential moderation in volatility as the market stabilizes following significant historical fluctuations.
• External factors such as infrastructure projects, government policies, and economic conditions that can impact import demands.
