Cement prices across Europe in 2025 increased modestly compared to Q1 2024, with more sustained movements in Sweden, Israel, and Ireland mainly linked to higher input and energy costs, continued infrastructure activity, and some supply-side tightness in selected markets.

Cement prices remained elevated across most European markets in Q1 2026 due to high energy and fuel costs, which continue to affect production. The Emissions Trading System (ETS) and the Carbon Border Adjustment Mechanism (CBAM) are also expected to raise costs for both domestic producers and importers. The degree of price movement varied by country, driven more by local demand conditions than shared cost pressures.

The UK saw a moderate decline, driven by demand and supply adjustments and weak construction output in Q4 2025. Demand weakness limited producers’ ability to raise prices. However, this is expected to be temporary, with prices likely to increase as input cost pressures persist.

On the structural side, producers are reducing clinker intensity to limit ETS exposure by substituting clinker with fly ash, slag, and calcined clay. The Netherlands will mandate a maximum 50% clinker factor in public projects from 2027. This may place downward pressure on prices although the availability and pricing of supplementary cementitious materials and other inputs will determine the net impact.

In Q2 2026, cement prices across Europe increased modestly, typically in the range of 0.5% to 1.5%, primarily shaped by cost pressures linked to the Middle East conflict and the implementation of CBAM. Elevated TTF gas prices and higher fuel costs were partially passed through into cement pricing, particularly in energy-import-dependent markets. The largest increase is forecast for Italy, followed by Israel and Sweden. These movements are mainly driven by higher energy costs, carbon pricing, and, in Israel’s case, currency depreciation and imported fuel exposure. For Q3 and Q4 2026, cement price trends across Europe are expected to be broadly stable with a slight upward bias.