Cement Industry
As expected, the COVID-19 pandemic has put a toll on the construction industry across the globe. The outbreak continued to affect numerous construction projects across many countries, causing the industry to experience a decline in the demand for its products. This will eventually lead to overcapacity in many regions.
Cement industry, on the other hand, will likely survive the crisis, given that cement is the second most utilized product in the world next to potable water. In fact, most governments have deemed these businesses as essential amid the COVID-19 scare and prompted them to continue their operations despite the low demand globally.
Although it is still too early to depict the implications of COVID-19 to the sector as the outbreak’s long-term impact on the economy is still uncertain, the cement industry has been faring fairly well during these tough times.
Health and safety compliance to the new workplace rules proves to be no challenge as cement plants already feature tightly controlled work environment, fewer on-site personnel, and most of the work activities are done outdoors.
It is be easy for them to recover post-pandemic as economic growth, urbanization, and population growth will be contribute to increased cement consumption.
However, the industry has faced several challenges even before the pandemic struck.
One of which is the call to further reduce their carbon footprint and achieve carbon neutrality to lessen their greenhouse gas emissions to under 7%. In order for them to move forward, companies should look into strengthening their competitiveness and sustainability.
For their long-term viability, firms must begin their carbon emissions, especially since governments, investors, and the public are starting to voice out their environmental concerns.
Cement industry and its affiliated companies who will prioritize sustainability even during this period of uncertainty will likely emerge victorious and will be operating in the longer run.
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