The sold production of Portland cement in Belgium saw a steady increase from 266.66 million Euros in 2013 to 330.37 million Euros in 2023. After experiencing a sharp dip in 2013, the market recovered with fluctuations, registering a significant boost in 2020, and maintaining an upward trend with a consistent year-on-year growth rate, culminating in a 3.25% increase in 2023. The compound annual growth rate (CAGR) for the past five years stands at 3.66%. Forecasts indicate continuous growth, projecting the market to reach 380.88 million Euros by 2028, with a forecasted 5-year CAGR of 2.26%.
Future trends to watch for:
- Continued urbanization driving higher demand for infrastructure projects.
- Pioneering advancements in eco-friendly cement solutions.
- Potential regulatory changes impacting industry practices.
