July 23, 2015 by STAFF REPORT
Cement consumption among developed economies have increased by more than 9 million tonnes in 2014 and 2015, according to a recent report by the Portland Cement Association (PCA).
PCA predicts cement consumption will continue to grow throughout this year and into 2016, but at a slower rate than in the past. World cement consumption is expected to grow 2.2 per cent this year, 3.7 per cent next year, and remain near four percent in 2017 and 2018.
“Most of the gains in developed world cement consumption are attributed to North America,” said Edward Sullivan, PCA’s chief economist and group vice president. “With an expected growth of more than 7.4 million tonnes, 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.”
A slowdown in the Asian economy will reduce consumption rates compared to previous years. China will continue to grow with a seven per cent economic growth rate in 2015, but the rate is much slower than the double-digit rates in 2010 and 2011.
Europe will experience modest growth this year, followed by stronger gains in 2016 and onwards, PCA predicts.This reflects the gradual healing of distressed housing and non-residential sectors.