Construction materials producer SCG Cement-Building Materials expects cement consumption this year to grow by 1-2% year-on-year to more than 30 million tonnes, mainly attributed to the tourism recovery.
The company, a business unit of Siam Cement Group (SCG), invented "hybrid structural cement" that reduces carbon dioxide emissions during the manufacturing process, part of SCG's efforts to combat global warming.
President Nithi Patarachoke said the construction sector should keep growing this year thanks to projects related to tourism and building repairs.
"After the full reopening of the country, the construction sector has grown, driven by demand from projects in tourist spots, Bangkok and neighbouring provinces," he said.
Mr Nithi said high electricity bills have greatly burdened businesses and households, but also increased demand for the installation of rooftop solar panels, which is another of its business units.
"Our solar power business, which includes solar power solutions and equipment, is expected to grow more than 300% in 2023," he said.
In the first quarter, SCG Cement- Building Materials saw its revenue increase by 3% quarter-on-quarter to 50.8 billion baht.
Profit tallied 13.4 billion baht for the period, a year-on-year increase of nearly 11 billion baht, thanks to higher sales and good marketing strategies.
"The company's improved performance also stemmed from the gradual economic recovery of the country and our cost reduction programme," said Mr Nithi.
SCG Cement-Building Materials reduced costs by using alternative fuels, such as biomass and biogas, to replace conventional fuels like coal.
Alternative fuels make up 38% of all fuels used, up from 34% last year.
The company also increased its solar power usage to 179 megawatts in the first quarter of this year, up from 177MW last year.
SCG Cement-Building Materials will continue to campaign for carbon dioxide emission reduction, he said.
Hybrid structural cement helped the company cut more than 80,000 tonnes of carbon dioxide emissions during its production in the first quarter, equivalent to planting 8 million trees.