Global cement demand to pass US$ 21 billion by 2017
By Helen Wright26 March 2014
Average growth of +9.3% a year has been forecast for global consumption of cement and concrete additives, with demand set to hit US$ 21.2 billion in 2017, according to research company Freedonia.
The Asia Pacific region is expected to remain the largest consumer of cement and concrete additives in Freedonia’s data set, with demand expected to increase +9.2% a year reaching US$ 10.6 billion by 2017.
But the strongest growth between 2012 and 2017 is forecast for Africa and the Middle East, where increases of +10.6% a year are expected, reaching a value of US$ 1.37 billion by 2017.
In Central and South America, annual demand is expected to increase +10.3%, reaching US$ 633 million by 2017, while demand in North America is forecast to jump +10% a year, reaching US$ 4.12 billion by 2017.
Consumption in Eastern Europe is forecast to see +9.2% growth between 2012 and 2017, reaching a value of US$ 1.38 billion, and Western Europe is expected to see +7.8% annual growth reaching US$ 3.15 billion.
Freedonia said growth in cement use in the US, Italy, Spain, and several other developed markets would rebound as construction markets recovered from recent disastrous periods, fuelling above-average gains for additives.
In contrast, it said the construction markets of many developing countries were not affected (or much less so) by the recent economic downturn.
In these areas, it said gains were expected to be prompted by increased additive use, and a move to higher-value additives to produce concrete meeting increasingly stringent performance expectations.
Freedonia said China accounted for nearly three-fifths of the world’s cement demand and more than one-quarter of additive demand in 2012. It said sustained growth in demand for additives was expected, even as growth in construction activity and cement demand decelerates.