The concrete, cement, and plaster articles production value in Belgium has shown significant volatility over the past decade. From a peak of €2.94 billion in 2015, the value saw a steady decline, with notable dips in 2016, 2018, and more drastically from 2020 onwards. In 2023, the production value stood at €1.75 billion, indicating a persistent downward trend. The year-on-year variations highlight this pattern, with consistent declines noted from 2016 onwards. Specifically, over the last two years, the production value decreased by 7.05% in 2022 and 7.51% in 2023. The five-year CAGR leading to 2023 was -5.01% annually.
Looking forward, the forecast for 2024-2028 projects a continued decline, with a forecasted five-year CAGR of -8.01%, leading to a cumulative decrease of 34.11% in production value by 2028. This suggests a pressing need for the industry to adapt to changing market conditions.
Future trends to watch for include technological advancements in construction materials, shifts in domestic and international demand, and evolving environmental regulations that might further impact production practices and costs.
In summary, while historical data reflects a declining trend, the industry must focus on innovation and strategic adjustments to counteract these headwinds and potentially stabilize production values in the future.
