Growth returns to cement markets in CIS countries - October 2010

Given the similar rates of development in, and numerous links between, Russia, Ukraine, Kazakhstan, Belarus, Uzbekistan, Azerbaijan, Moldova, Turkmenistan, Georgia and Armenia, these countries can be treated as a single cement market, with a total population of more than 260 million and a total area of 22 million square kilometres.

In both 2006 and 2007, the annual increase in the monetary value of cement consumed in these countries was close to 80%, reflecting a steep rise in cement prices and an ongoing construction boom in these countries. In 2008, the increase in the combined value of the cement markets in the region slowed to 6%, and this was followed by a steep, almost 50%, contraction in the CIS cement market, a result of tumbling prices and falling demand.