Daily Update — November 20, 2025
Cement Decarbonization in India; Africa’s Economic Potential; and EV Battery Supply Chains
Today is Thursday, November 20, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
India’s cement sector embraces decarbonization amid robust outlook, policy push
India's cement industry has made significant progress adopting renewable energy over the past two decades. Leading Indian companies had installed a total capacity of 1,800 MW as of 2024 and aim to add another 5 GW by 2030, the Global Cement and Concrete Association (GCCA) India told Platts Nov. 17. GCCA India promotes sustainability in the cement and concrete sector.
"[The sector] has transitioned to dry processes, adopted renewable energy, implemented waste heat recovery systems and increased the production of blended cement," the association said. "Currently, the average use of alternative fuels in the sector is approximately 6%, although some plants have successfully achieved over 20% usage."
Economy
Unlocking Africa’s economic potential for faster long-term growth
Most African economies are expected to grow slowly but steadily in 2025 and 2026, averaging close to the 3.8% observed since the end of the COVID-19 pandemic. The region will benefit from more benign inflation dynamics, lower food and energy prices, and a weaker US dollar, reducing the cost of imports. Declining global interest rates will alleviate near-term financing constraints. Most African economies are sheltered from ongoing tariff-related tensions, as the US accounts for only 5% of total exports. Beyond the next few years, faster economic growth is needed to improve living standards for a rapidly growing population. Africa has the opportunity to unlock its vast critical mineral resources to accelerate growth and narrow the large income gap between the region and the rest of the world.
S&P Global projects that GDP growth rates in most African economies over the next couple of years will be similar to those averaged in the post-COVID-19 period between 2021 and 2024. We expect household spending, which accounts for over 60% of Africa’s GDP, to remain a key growth driver for most African economies.
This article is part of the Look Forward: Unlocking Africa collection.
Global Trade
EV battery supply chain under pressure: The price of a beautiful bill
In July, US President Donald Trump signed a new federal budget, also referred to as the One Big Beautiful Bill Act, into law. Key priorities include cutting government spending to address the increasing national debt and lowering energy costs by boosting domestic oil production.
While the bill purports to support domestic electric vehicle production and the broader EV battery supply chain, it introduces uncertainty around how these goals will be achieved. This ambiguity is especially risky in a capital-intensive sector where the US is still working to catch up with China, reduce reliance on foreign inputs and generate new jobs. As of Sept. 30, the bill eliminated the $7,500 tax credit for new EV purchases and the $4,000 credit for used EVs. Both incentives, created under the Inflation Reduction Act in August 2022, had been integral to consumer adoption of EVs.
In case you missed it
- In October, nine US real estate investment trusts increased their dividends, bringing the total number of US REITs that have raised dividends so far in 2025 to 65.
- European sulfur and sulfuric acid producers are facing an affordability crisis as sulfur feedstock costs surge, prompting some facilities to consider closures and a shift in regional trade patterns.
- Ukraine's grain sector is facing increasing pressure due to war-related disruptions and adverse weather conditions, with power shortages, logistical challenges in wheat production and significant harvesting delays straining corn supply chains nationwide.
Upcoming events
- Navigating the Residential Mortgage Market in Today's Evolving Environment | November 24 (Webinar)
- 2026 Outlook: What’s on the menu for Agriculture Sustainability? | November 26 (Webinar)
- Beyond Global Averages: Leveraging Country-Specific Emission Factors for Precision Carbon Footprinting | November 26 (Webinar)