The production of hydraulic cement in South Korea exhibited significant fluctuations over the past decade. From 2013 to 2018, production generally trended upwards, peaking in 2018. However, 2019 and 2020 saw notable declines due to various market challenges, including reduced infrastructure projects. Recovery began in 2021, and by 2023, production stabilized around 52.67 million metric tons. The compound annual growth rate (CAGR) of -1.74% over the last five years indicates a slight declining trend.
Forecasts from 2024 to 2028 suggest slight growth, with a modest average annual growth rate of 0.08%. By 2028, production is expected to reach approximately 52.95 million metric tons.
Future trends to watch for include advancements in sustainable construction practices, governmental infrastructure projects, and potential impacts of economic shifts. Monitoring these factors will be crucial in anticipating and adapting to market dynamics.
