Over the period from 2013 to 2028, the cement production value in Belgium has experienced varied trends. From 2013 to 2016, the market saw a generally upward trajectory, peaking in 2016 at 1060.0 million Euros. This was followed by a sharp decline in 2018 to 605.4 million Euros. The market showed fluctuations, with a modest recovery observed in the years 2019 to 2021, stabilizing around 690.0 million Euros until 2023, which stood at 688.3 million Euros. From 2024 onwards, the projected data suggests a slightly declining trend, forecasting a value of 682.8 million Euros by 2028.
The year-on-year variation over the last couple of years indicates a gradual deterioration with 2023 witnessing a -0.23% change. Looking back at the last five years, the Compound Annual Growth Rate (CAGR) aligns with a decline, standing at -2.6%. The forecasted five-year CAGR up to 2028 is estimated to be -0.12%, indicating a slight contraction.
Future trends to watch for include the impacts of emerging green technologies and sustainability initiatives in the cement industry, which could influence production methods and costs. Additionally, the developments in construction demand and infrastructure investments in Belgium and the broader European Union may play significant roles in shaping the market dynamics over the coming years.
