Amid the prolonged nationwide lockdown and subsequent state and city-specific restrictions disrupting construction activities, cement demand is expected to de-grow by 22-25 per cent in FY2021, says rating agency ICRA. Demand is likely to recover only from the second half of FY2021, post-monsoon. The rural segment has been relatively less impacted by the pandemic. Despite the expected significant decline in demand, cement prices are likely to remain largely at similar levels or get only marginally corrected given that the industry exhibits pricing discipline, the rating agency noted.