Cement Manufacturers Association of the Philippines warned of further layoffs and reduced operations, citing declining demand and competition from imports being “dumped” onto the Philippine market from Vietnam.
“As it stands, the Philippine cement industry has been forced to downscale operations as imports continue to cannibalize the market, and in certain cases lay off workers due to the worsening market situation,” said Cement Manufacturers Association of the Philippines (CEMAP).
According to CEMAP, the production capacity of the cement industry far exceeds expected demand in 2024.
The industry increased capacity by 17 million tons per annum over the last five years, bringing capacity to 53 million tons in 2024.
