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INTERCEM Insights
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The annual European meeting
Athens Marriott Hotel, Athens, Greece | 5–6 October 2026
AshTrans 2026 welcomed 130 registered attendees to the Athens Marriott Hotel on 5–6 October, bringing together professionals from across the cement, SCM, energy, trading and logistics sectors for two days of market updates, technical discussion and business networking. Hosted in partnership with TITAN, the conference focused on the changing supply and use of supplementary cementitious materials (SCMs) across Europe and international markets.
Across the two-day programme, speakers examined SCM supply, European regulation, CBAM, cement industry decarbonisation, CCUS costs, dry bulk shipping and the growing use of alternative cementitious materials. Discussions also covered the Middle East SCM market, securing future cementitious supply and the commercial and regulatory pressures affecting cement and SCM markets.
Two panel discussions brought together industry representatives to examine the full range of SCM opportunities and the future of SCMs and low-carbon cement, while networking sessions, lunches, drinks and the conference dinner provided further opportunities for attendees to meet and develop business relationships.
Standards, circular materials and the reuse of stockpiled ash
Europe’s construction materials framework continues to develop as greater emphasis is placed on the circular use of raw materials and more sustainable construction products. The session examined the role of the Construction Products Regulation and the requirements affecting materials entering construction applications.
Discussion also covered the ongoing development of harmonised technical specifications, including their potential application to aggregates, binders and other materials. Examples of stockpiled ash reuse highlighted how recovered materials are already being used in construction, including unbound and drainage applications, while practical industry experience will remain important as standards develop.
Freight, cement demand and the growing role of SCMs
Freight rates have largely normalised following the 2022 spike, but uncertainty remains central to the cement market outlook for 2027. Energy prices, construction costs and regional price differences continue to make scenario planning important rather than relying on a single forecast.
In Europe, longer-term changes in cement consumption and carbon costs are increasing the focus on supplementary cementitious materials (SCMs). Imports of slag and other materials could help producers reduce clinker use and manage cost exposure, with future sourcing strategies dependent on supply, pricing and regulation.
Arthus made his first INTERCEM presentation in Athens, joining On Field Investment Research’s contribution to the conference programme.
Changing supply dynamics and the move towards lower-carbon materials
The cementitious materials landscape is shifting as decarbonisation targets meet changing supply conditions. China’s slowing cement market alongside continued steel production is contributing to greater slag availability, while fly ash movements remain constrained by infrastructure and logistics.
Securing future supply will require a combination of approaches. Improving plant efficiency, increasing the use of supplementary cementitious materials (SCMs) to reduce clinker and developing CCUS all have a role to play. With calcined clay and other emerging materials receiving greater attention, the challenge is developing reliable supply at the scale required by the cement industry.
Local SCM production, cement capacity and rising logistics and energy costs
Cement capacity across the GCC faces a structural constraint from fuel allocation rather than demand. Combined with higher energy costs and challenging logistics, this is increasing the importance of locally produced supplementary cementitious materials (SCMs) as a way to expand cementitious capacity while reducing reliance on clinker.
The session highlighted calcined clay as a significant opportunity for the region due to the availability of suitable local geology and its potential to be produced at scale. Greater use of locally sourced SCMs could help address supply constraints, reduce logistics exposure and lower the carbon intensity of cement production.
Supply, processing and the practical challenge of reducing clinker
Bringing together representatives from different areas of TITAN Group alongside the wider SCM industry, the panel reinforced one central point: there is no single material or process that will meet every market’s needs. Fly ash, slag and other supplementary cementitious materials each present different challenges around supply, processing, quality and cement performance.
India’s fly ash market provided a clear example of both the opportunity and complexity. Discussion covered available supply and export potential alongside the need for consistent quality, classification, certification and port infrastructure before materials can reach customers at scale. Lower-clinker cement therefore depends as much on supply-chain capability and industry collaboration as it does on the materials themselves.
Managing environmental risk while maintaining industrial competitiveness
TITAN Group framed environmental pressures through a risk-management lens, examining transition risks including carbon pricing and regulation alongside physical risks such as wildfires, droughts and floods. Biodiversity, water and resource use were also highlighted as priorities as producers assess their exposure across operations and supply chains.
Measuring these risks can help businesses prioritise action, but decarbonisation also depends on effective regulation, access to funding and customer demand for lower-carbon products. The discussion highlighted the importance of a level playing field across industrial markets as cement producers balance environmental targets with competitiveness and long-term investment.