Study says global demand for cement to reach 5.2 billon metric tons in 2019
World Cement, a study conducted by The Freedonia Group, projects world demand for cement to rise 4.5 percent per year to 5.2 billion metrics tons in 2019. In value terms, this means global demand for cement will advance 7 percent per year to $420 billion in 2019. Gains will be driven by healthy increases in construction activities in developing countries throughout the Asia/Pacific and Africa/Mideast regions, says the study.
China will continue to be the largest driver of growth for cement, and North America will also have strong gains as the U.S. construction industry continues to recover from recessions. Additionally, blended cement will continue to be the most popular cement type at the global level, accounting for 75 percent of total demand in 2019, reports the study.
The report indicates that India is expected to post the fastest growth in cement demand of any major national market. Other countries expected to post strong growth include Vietnam, Indonesia and Pakistan.
According to the study, demand for cement in North America will have strong advances owing to the recovering U.S. market. However, while U.S. demand for cement has already benefited from a post-recession rebound, consumption in 2014 remained well below 2004 levels. Demand for cement in Western and Eastern Europe will also benefit from recovery, and countries such as Spain, Italy and Ukraine will achieve significantly improved performances, reports the study.
World Cement is available for $6,500 from The Freedonia Group.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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