Economy & Market
Global cement consumption on the rise
According to a report released by the Portland Cement Association (PCA), the global cement consumption is expected to grow through 2015 and 2016, with North America leading recent gains. Cement consumption among developed economies increased by about 9.2 million tonne in 2014, followed by another 9 million tonne 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 per cent in 2015, 3.7 per cent in 2016, and remain at near 4 per cent growth during 2017-2018. World cement consumption grew by an estimated 4.6 per cent in 2014 from 4 billion tonne in 2013 to 4.3 billion tonne. A slowdown in Asian economic growth will reduce cement consumption growth rates compared to previous years.