South Korea: The Korea Cement Association, whose members include Sampyo Cement, Ssangyong C&E, Hanil Cement, Asia Cement, Halla Cement and Sungshin Cement, reported that domestic cement demand in 2025 is expected to reach 36.5Mt, down by 16.5% year-on-year, marking the lowest level since 1991, at 37.1Mt. Next year’s forecast indicates continued stagnation, with demand projected to decline a further 1% to around 36Mt.
According to the association, the country’s cement production peaked at 61.8Mt in 1997 before plunging to 44.6Mt during the 1998 financial crisis. Although production recovered to 56.71Mt by 2017, demand has since fallen by nearly 20Mt in just eight years.
An association official said, “While the sharp decline in domestic demand is quite shocking in numerical terms, the early 1990s were a period when the industry’s production capacity was 42.1Mt/yr, and cement domestic demand was rapidly increasing due to new town construction projects being developed in the outskirts of the Seoul metropolitan area as part of national policy. Currently, production capacity has increased to 61Mt/yr, but domestic demand is plummeting, so considering the utilisation rate, there is an enormous difference beyond simple numerical comparison.”
Cement exports rose by 52% to 4.5Mt in 2025, while for 2026, domestic demand is projected at 36Mt and exports at 3.5Mt.
