Portland cement market in Greece

Earlier Report Observations

From 2018 to 2023, the domestic market volume for Portland cement in Greece showed consistent growth, rising from 2.5 million tonnes to 3.7 million tonnes. This expansion was interrupted in 2024 when consumption fell back to 3.5 million tonnes. In value terms, the market exhibited more volatility, with a dip to $241 million in 2019 followed by a recovery and a sharp increase to $367 million in 2022.

The period of market volume growth from 2021 coincided with Greece's established role as a notable exporter of Portland cement, particularly to the United States, indicating robust domestic production capacity that could support local supply. The steeper rise in market value, especially in 2022, points to factors beyond pure volume, such as price movements, influencing the total market size.

Production portland cement in Greece

In value, 2017-2020, M $ US

In Greece, the value of portland cement production in 2020 was $400.3 million US, showing little change from 2019. Over the period from 2017 to 2020, production decreased by 4.6%, which translates to an annualized decline of 1.6%. The lowest value was recorded in 2019 at $398.7 million US, while the peak occurred in 2018 at $446.9 million US. The most significant drop was in 2019, with a 10.8% decrease, whereas the largest increase was in 2018, rising by 6.5%.

Annual dynamics of production in Greece in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Portland cement production in Greece continued to decline for the second year in a row. In 2020, output reached 5 505 thousand tonnes, marking a slight reduction of 0.6% compared to the previous year. From 2017 to 2020, production fell by 11.4%, averaging an annualized decrease of 4.0%. The highest production level was in 2018 at 6 398 thousand tonnes. The most substantial decline occurred in 2019, dropping by 13.4%, while the largest increase was in 2018, with a 2.9% rise.

Annual dynamics of production in Greece in kind, 2017-2020, K t

Exports portland cement from Greece

Exports in kind, K t

Greece's exports of portland cement declined for the second consecutive year. In 2020, exports totaled 3 056 thousand tonnes, reflecting a 3.9% decrease from 2019. Between 2017 and 2020, exports dropped by 22.4%, equating to an annualized rate of decline of 8.1%. The peak export volume was recorded in 2018 at 4 035 thousand tonnes. The most significant decrease was in 2019, with a 21.2% fall, while the largest increase was in 2018, rising by 2.4%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, K t

From 2017 to 2020, the United States, Israel, and Canada were the top destinations for Greece's portland cement exports in volume terms. The United States accounted for 54.3% of exports, Israel for 17.4%, and Canada for 6.6%. Together, these three countries represented 78.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, M $ US

Portland cement exports from Greece fell for the second year in a row. In 2020, export value reached $153.7 million US, showing a modest contraction of 10.0% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 16.3%, averaging an annualized decline of 5.8%. The highest value was recorded in 2018 at $197.8 million US. The most significant drop occurred in 2019, with a 13.6% decrease, while the largest increase was in 2018, rising by 7.7%.

Annual dynamics of product's exports from Greece in value, 2017-2020, M $ US

Throughout 2017 to 2020, the United States, Israel, and the United Kingdom remained the leading markets for Greece's portland cement exports in value terms. Collectively, these three countries accounted for 77.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports portland cement to Greece

Imports in kind, K t

Following a two-year increase, Greece's volume of portland cement imports declined. In 2020, imports totaled 130 thousand tonnes, reflecting a moderate drop of 3.7% from the previous year. Between 2017 and 2020, imports grew by 92.5%, averaging an annualized increase of 24.4%. The peak import volume was in 2019 at 135 thousand tonnes. The most substantial rise occurred in 2018, with a 65.4% increase.

Annual dynamics of product's imports to Greece in kind, 2017-2020, K t

From 2017 to 2020, Turkey dominated Greece's portland cement imports in volume terms, accounting for 88.9% of total flows. The remaining share was distributed among various smaller destinations.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, M $ US

Import values showed noticeable fluctuations during the period. In 2020, Greece imported $13.0 million US of portland cement, corresponding to a slight decrease of 1.9% from 2019. The lowest value was in 2017, while the peak was in 2019 at $13.3 million US, resulting in a 2.1-fold difference between these years. The largest increase was recorded in 2018, rising by 92.6%.

Annual dynamics of product's imports to Greece in value, 2017-2020, M $ US

Throughout 2017 to 2020, Turkey clearly dominated Greece's portland cement imports in value terms, taking 89.0% of total flows. Other countries each held significantly smaller shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020