Overview of the Market for Non-Refractory Ceramic Building Bricks in Cyprus
Market Overview
The Cypriot non-refractory ceramic building bricks market declined modestly to $
in 2019, shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market failed to regain the momentum.
In value terms, non-refractory ceramic building bricks production declined rapidly to $ in 2019 estimated in export prices. In general, production, however, recorded a deep slump. The growth pace was the most rapid in 2008 with an increase of % against the previous year. As a result, production reached the peak level of $. From 2009 to 2019, production growth remained at a lower figure.
in 2019, shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2008 with an increase of % year-to-year. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market failed to regain the momentum.In value terms, non-refractory ceramic building bricks production declined rapidly to $
in 2019 estimated in export prices. In general, production, however, recorded a deep slump. The growth pace was the most rapid in 2008 with an increase of % against the previous year. As a result, production reached the peak level of $. From 2009 to 2019, production growth remained at a lower figure.Consumption
In 2019, consumption of non-refractory ceramic building bricks increased by % to units, rising for the second year in a row after three years of decline. In general, consumption, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of % against the previous year. Non-refractory ceramic building bricks consumption peaked at units in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.
The revenue of the non-refractory ceramic building bricks market in Cyprus reduced slightly to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a lower figure.
% to units, rising for the second year in a row after three years of decline. In general, consumption, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of % against the previous year. Non-refractory ceramic building bricks consumption peaked at units in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.The revenue of the non-refractory ceramic building bricks market in Cyprus reduced slightly to $
in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a lower figure.Market Forecast
Depressed by shrinking demand for non-refractory ceramic building bricks in Cyprus, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Market Structure
Over the period under review, imports of non-refractory ceramic building bricks in Cyprus were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for non-refractory ceramic building bricks.
Trade Balance
Cyprus remains a net importer of non-refractory ceramic building bricks; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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