Searching for Mediterranean sun
The Mediterranean delivered a mixed bag of results in 2012. While southern Europe (France, Greece, Italy and Spain) tightened their belts as the eurozone crisis hit home and recorded an average 21 per cent drop in cement consumption, the Egypt and Levant area fared better. The two heavyweights in the eastern Mediterranean, Egypt and Turkey, noted five and 3.8 per cent demand increases, respectively. The Maghreb countries of Algeria, Libya, Morocco and Tunisia recorded an overall 8.7 per cent rise in cement consumption to 47.6Mt, delivering a more sunny prospect.
Morocco’s expanding population and healthy GDP growth combine as a solid basis for sustained cement demand
with cities such as Casablanca particularly well-placed to benefit from a planned housing boom
The Mediterreanean region can be broadly divided into three areas: southern Europe, the Levant with Egypt, and the Maghreb. While the global recession and eurozone crisis have impacted significantly on southern Europe, at the other end of the spectrum the Maghreb countries have enjoyed a steady rise in population and GDP, fuelling their demand for cement.
