Cement demand in Saudi Arabia fell by nearly 1.4 million tonnes in the first 10 months of 2022 but remained robust compared with the slump during the Coronavirus pandemic, according to a local industry report.
From around 44.2 million tonnes in the first 10 months of 2021, cement consumption in the largest Arab economy declined to nearly 42.8 million tonnes in the same period of 2022, showed the report by Al-Yamama Cement Company.
Deliveries to local contractors dipped by around 1.9 percent to 41.8 million tonnes from nearly 42.6 million tonnes in the same period, the report showed.
On a monthly basis, local cement sales grew for the fourth successive month to register a rise of nearly 9 percent in October over the previous month, the report said.
Cement production in October swelled by about 7.5 percent while cement and clinker exports soared by nearly 36 percent in October, it added.
In 2021, cement demand in the world’s largest oil exporter increased by nearly 4.6 percent due to an upsurge in public projects as part of the Gulf country’s Vision 2030 economic diversification strategy.
Demand stood at around 53.4 million tonnes in 2021 compared with 51.08 million tonnes in 2020, according to Alyamama report.
Saudi Arabia, which controls the world’s second largest recoverable oil resources, is the largest Arab cement producer, with output peaking at over 60 million tonnes in 2015 before it receded in the following years.
(Writing by Nadim Kawach; Editing by Anoop Menon)