Global cement consumption is expected to grow throughout 2015 and 2016, but at a slower rate than recent years according to a report from the Portland Cement Association. Cement consumption among developing economies increased by roughly 9.2 million metric tons in 2014, followed by another 9 million ton increase in 2015.
“Most of the gains in developed world cement consumption are attributed to North America,” said Edward Sullivan, chief economist and group vice president at PCA. “With an expected growth of more than 7.4 million metric tons, the North American region is expected to continue to expand at a faster pace than most other developed countries due to continued national economic growth.”
PCA projects global cement consumption to record sustained growth during 2015-2018, but at a less robust pace than previously expected. World cement consumption is expected to grow 2.2 percent in 2015, 3.7 percent in 2016, close to 4 percent during 2017018. World cement consumption grew an estimated 4.6 percent in 2014 from 4 billion metric tons in 2013 to 4.3 billion metric tons.
A slowdown in Asian economic growth will reduce cement consumption growth rates compared to previous years, the report says. While China will continue to growth with a 7-percent economic growth rate in 2015, the rate is smaller than the double-digit grow rates in experienced in 2010 and 2011.
Europe will experience modest growth in 2015, followed by stronger gains in 2016 and beyond, said the report. This scenario reflects the gradual healing of distressed housing and nonresidential sectors in several Eurozone economies.
