Global cement consumption is expected to grow throughout 2015
and continue throughout the next year, but at the slower rate than in the
past. A report released by the Portland Cement Association (PCA) indicates that
cement consumption among developed economies increased by roughly 9.2
million metric tons in 2014, followed by another 9 million ton increase in
2015. 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,
and remain near 4 percent growth during 2017-2018. World cement consumption
grew an estimated 4.6 percent in 2014 from 4.0 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. Although China will continue to grow,
with a 7 percent economic growth rate in 2015, this is much less than then
the double-digit rates it experienced in 2010 and 2011.
Modest growth will materialize in Europe in 2015 followed by stronger gains
in 2016 and beyond. This scenario reflects the gradual healing of distressed
housing and nonresidential sectors, especially among several Eurozone
economies.