The cement market - Italy

The cement market is a strategic sector for theconstruction and infrastructure industry, playing a key role in economic and urban development. Globally, the industry continues to expand, with an estimated value of $428.45 billion in 2025 and a compound annual growth rate (CAGR) of 5.16 percent through 2032. This development is driven byincreased demand for building materials, major infrastructure works, and green transition policies, which incentivize theuse of solutions with reduced environmental impact, such as low-carbon cement₂. In Italy, the sector hasevolved significantly in recent years. The turnover of cement manufacturing companies has increased from 2.08 billion euros in 2018 to 2.51 billion euros in 2023, with further growth expected in 2024. However, a major change has occurred in the cement trade balance: the country has changed from a net exporter to a net importer, impacting the dynamics of domestic supply and competitiveness. France remains the main destination market for Italian exports, while Turkey emerges as the main supplier. Cement demand is closely linked totrends in the construction sector, which has seen significant growth in investment in residential and infrastructure construction. In 2023, nearly half of the concrete produced went to public works, while the rest was absorbed byresidential and nonresidential construction. The sector is strongly influenced by government incentives and urban regeneration policies, which are increasing the demand for innovative and sustainable materials in line with the goals of reducing emissions and improving energy efficiency. The Italian cement market is characterized by the presence of a few large industrial groups, including Buzzi Unicem, Colacem and HM Italia Cementi, which operate on a large scale with a consolidated international presence. Domestic production is gradually moving toward more sustainable models, with investments in technologies for decarbonization and theuse of alternative fuels. In the coming years, innovation and energy efficiency will be key determinants of the sector's competitiveness. The push toward low-emission cement, the circular economy and technologies to reduce the environmental footprint are the main challenges for the Italian industry, which aims to maintain a prominent position in the European and global market.

Analyst's comment The cement market is confirmed as a strategic sector for economic and urban development, with growth prospects both globally and in Italy, although the latter is facing new challenges related to competitiveness and sustainability.Italy, in particular, is going through a phase of structural transformation, with a shift from net exporter to net importer, a sign of change in supply dynamics and a possible increase in dependence on foreign markets. France remains the main trading partner for Italian exports, while Turkey consolidates its role as the main supplier, highlighting the growing weight of lower-cost production. The construction sector continues to drive demand for cement, mainly due to infrastructure investments and urban regeneration policies, which incentivize the use of innovative and sustainable materials. However, the sector's growth will be increasingly conditioned by theevolution of environmental regulations and the ability of companies to adapt to new decarbonization standards. At the industrial level, the Italian market remains dominated by a few large groups with anestablished international footprint, including Buzzi Unicem, Colacem and HM Italia Cementi, which are investing in energy efficiency and emission reduction technologies.Innovation in the production process and the adoption of low CO₂ emission solutions will be crucial to ensure the competitiveness of the sector in the coming years. While green transition policies offer opportunities for growth, they also impose a profound transformation of the industry, pushing companies to diversify energy sources and integrate the concept of circular economy into production processes. The Italian cement market, therefore, faces a crucial challenge: to remain competitive in the European and global context by focusing on sustainability, innovation and more efficient management of production resources.