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Forecast Period
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2024-2028
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Market Size (2022)
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85.11 MMT
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Largest Market
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Residential
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CAGR (2023-2028)
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6.43%
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Fastest Growing Segment
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Portland
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Turkey Cement market is
expected to develop at a rapid pace between 2024 and 2028. The rise in
infrastructure development and construction activities are driving the demand
for the Turkey Cement market. The country’s cement industry, with export volume
rising every year, has gained increasing importance in the economic structure
of Turkey, while also providing a significant level of employment. In 2011, the
production capacity was 65 million TPA (Tonnes per Annum) of clinker and 106
million TPA of cement. Realized production volumes were 54.2 million tons of
clinker and 63.4 million tons of cement in 2022. The country has a significant
infrastructure and housing shortage, and the construction industry has a
promising future. In 2022, the production volume of cement in Turkey
amounted to an estimated 85 million metric tons. Thus, Turkey was ranked as the
fifth leading cement producing nation in the world that year, following China,
India, Vietnam, and the United States.
Furthermore, in 2012,
domestic cement demand grew by around 4-5%. In the next 10 years, the industry
is expected to grow in the domestic and export markets, reaching a production
volume of 100 million tons. According to cement industry forecasts for the
years 2013 - 2023, measured in 2023 values, it is expected that production will
increase to 99.8 million tons and consumption to 78.9 million tons.
Growing Investment &
Rising Cement Plants to Boost the Market Growth
Cement is made by combining
limestone, clay, and sand in a rotating kiln at high temperatures. The raw
materials are heated to about 1,450 degrees Celsius (2,642 degrees Fahrenheit),
which causes them to fuse together and form clinkers. The clinkers are then
grounded into a fine powder, which is cement. The cement manufacturing
companies are using its raw material resources to meet the country's ongoing
construction activities' demand, by reducing the cost incurred in the
production process. Manufacturers are making high-end investments to modernize
the infrastructure required to make fine cement particles. For an example,
Marmara Cement was founded by Ustyapi, a Turkish road builder and construction
contractor, in 2018. It was built, in part, to bring cement production in house
for Ustyapi’s own projects. Before Marmara Cement, Ustyapi had previously
founded, built, commissioned, and subsequently sold another cement plant,
Kavçim, between 2012 and 2016. The construction of the factory took place in
2019 and 2020, although the COVID-19 pandemic somewhat slowed down the
construction in 2020 as well. At the beginning of 2021, the construction work
was finished, and now companies are able to fire up the furnace. The first
clinker was produced on April 1, 2021. Owing to this growing investment, the
turkey cement market is growing in the forecast period.
Increasing Awareness of
Green Cement
According to an average,
one ton of Portland cement emits approximately 6% of the world's anthropogenic CO2
emissions, contributing significantly to current environmental issues. This
leads to high carbon dioxide & greenhouse gas emissions, which have forced
many builders, authorities, and architects to choose greener solutions such as
the development and use of green cement. The green cement is an effective choice for
building bridges and roads, due of its high tensile strength and corrosion
resistance. It has a lower rate of shrinkage, making it more durable than
traditional cement. These factors are pushing the turkey cement market towards favourable
opportunities in the country.
Turkey Government Housing
Program
The major announcement for
the urban renewal projects by the leading authorities to boost the country's
economy, is significantly contributing to the Turkey Cement market growth. The government
is introducing affordable housing schemes in the country, boosting the demand
for the residential construction sector. For instance, The TOKIN TOKİ
social housing program targets people with low and middle incomes who would
not be able to own a home in the current market situation. In January 2022, 86%
of TOKİ's project portfolio is the social housing for these target groups. The
remaining 14% are projects implemented by the administration to develop
economic resources. Since 2002, under the "Planned Urbanization and
Housing Development Mobilization" of the Government of the Republic of
Turkey; TOKİ started the production of 1,062,676 apartments in 81 provinces on
4,834 construction sites. (Until January 2022), 7093 offers worth 180 billion
TL. This investment will future boost market. TOKİ's social housing program, a social
project, was developed on land, and is owned by administration's resources. To
ensure that the housing program goes smoothly, government is investing more
fund in the residential sector.
Renovation and
Modernization of Old Projects Will Drive the Market
Redesign and modernization
projects play an urgent part in driving the cement market in Turkey. With its
rich verifiable legacy and social tourist spots, Turkey has an immense range of
authentic locales, structures, and landmarks that require customary support,
rebuilding, and modernization endeavours. The interest in concrete in these
ventures is huge, as it is a basic development material for underlying security
and protection.
To preserve their
architectural integrity and cultural significance, historic buildings and sites
like mosques, churches, ancient ruins, and palaces require meticulous
restoration. These tasks include fixing and supporting existing designs,
supplanting weakened materials, and guaranteeing the life span of the
structures. There is a growing need to upgrade residential and commercial
spaces to meet modern standards as Turkey experiences urbanization and
population growth.
Redesign projects include
changing obsolete structures into current designs, further developing energy
effectiveness, integrating trend setting innovations, and upgrading usefulness.
The preservation of historical sites and the promotion of sustainable urban
development are recognized by the Turkish government. These initiatives make it
possible for both Turkish manufacturers and suppliers to benefit from the
increased demand for cement in the country.
In general, renovation and
modernization projects in Turkey's cement market not only help to preserve the
cultural heritage of the nation but also significantly contribute to the
expansion of the construction industry, the creation of employment opportunities,
and the expansion of the economy.
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Foreign Direct Investment
(FDI) Driving Growth and Development of The Cement Market in Turkey
The cement market in Turkey
has grown and developed, due to foreign direct investment (FDI). The cement
industry has seen significant inflows of foreign capital due to the country's
expanding economy, strategic location, and favourable investment climate. Turkey's
expanding economy, stable political climate, and solid legal system have made
it a popular destination for investors from abroad. The public authority has
carried out changes to empower FDI and establish an effective business climate,
including smoothed out guidelines, speculation motivations, and tax reductions.
Foreign companies have been able to enter the Turkish cement market, due to
these measures, which have ultimately increased investor’s confidence.
Additionally, due to the
country's rising construction, infrastructure, and urbanization trends, foreign
investors are aware of the enormous potential of the Turkish cement industry.
Foreign companies can benefit from the rising demand for building materials and
contribute to the country's development objectives by investing in the cement
market. Moreover, Turkey's locations area gives admittance to territorial and
global business sectors. Numerous businesses are focusing on construction
economy. The country's proximity to Europe, Asia, and the Middle East makes it
possible to trade and distribute goods effectively.
The growth in construction
sector helps in the growth of Turkish economy. The Turkish government is
investing heavily in infrastructure, such as roads, bridges, and airports. This
is creating a demand for cement, as these projects require large amounts of material.
Turkey is a rapidly urbanizing country, which is also driving the demand for
cement. As more people move to cities, there is a need for new housing,
commercial buildings, and other infrastructure, owing to which the market is
expected to grow in the forecast period.
In conclusion, the Turkish
cement market is a dynamic and growing market, and it is well-positioned for
continued growth in the coming years. The strong economic growth in the
country, coupled with the government's focus on sustainable construction, are
driving demand for cement. The rise of the green building movement and the
increasing use of cement in industrial applications are also contributing to
the growth of the market.
Recent Development
- According to world
Cement Data, a focus on urban renewal projects is very important for the
construction and cement sectors. It could increase the demand for cement,
and may continue to increase the infrastructure and construction
activities in Turkey until 2023. Cement could reach 99.8 million tons,
while consumption is expected to reach 78.9 million tons in 2023 end.
Market Segment
The Turkey Cement market is segmented into type, end use, and region. Based on type, the market is segmented into Blended,
Portland, and Others. Based on the end use, the market is bifurcated into
residential and non-residential. Based on region, the market is segmented into Marmara,
Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Black Sea, and
Eastern Anatolia.
Market Players
Major market players of Turkey Cement Market are Akcansa Cement, Oyak Group, Çimsa
Cement, Limak Cement, Askale Cimento Sanayi TAS, Heidelberg Cement Group,
VOTORANTIM CIMENTO A.S., FLSmidth, ADOCIM CIMENTO BETON A.S, BURSA CEMENT A.S.
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Attribute
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Details
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|
Base Year
|
2022
|
|
Historic Data
|
2018 – 2021
|
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
|
Revenue forecast, company
share, growth factors, and trends
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|
Segments covered
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Type
End Use
Region
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Regional scope
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Marmara, Central Anatolia,
Mediterranean, Aegean, Southeastern Anatolia, Black Sea, Eastern Anatolia
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Key companies profiled
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Akcansa Cement, Oyak Group, Çimsa Cement, Limak Cement, Askale Cimento
Sanayi TAS, Heidelberg Cement Group, VOTORANTIM CIMENTO A.S., FLSmidth,
ADOCIM CIMENTO BETON A.S, BURSA CEMENT A. S.
|
|
Customization scope
|
10% free report customization
with purchase. Addition or alteration to country, regional & segment
scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore
purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We
can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, Turkey
Cement Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
Turkey Cement Market, By
Type:
o Blended
o Portland
o Others
·
Turkey Cement Market, By
End Use:
o Residential
o Non-Residential
·
Turkey Cement Market, By
Region:
o Marmara
o Central Anatolia
o Mediterranean
o Aegean
o Southeastern Anatolia
o Black sea
o Eastern Anatolia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in Turkey Cement Market
Available Customizations:
Turkey Cement Market with the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Turkey Cement Market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]