World demand for cement is projected to grow 4.6 percent per year to 5.2bn tonnes in 2019, says a report.
Gains will continue to be stimulated by healthy increases in construction activity in developing countries throughout the Asia/Pacific and Africa/Mideast regions according to the Freedonia report, World Cement Market.
“The massive Chinese market will continue to be the largest driver of growth, accounting for over half of the increase in global cement demand through 2019. North America will also register strong gains as the US construction industry continues to recover from recessionary conditions that began in 2008. In value terms, global demand for cement will advance 7.0 percent per year to $420 billion in 2019.
“The Africa/Mideast region will post the fastest gains through 2019, growing 5.6 percent per year. The four largest cement consumers in the region — Turkey, Saudi Arabia, Iran, and Egypt — will all outperform the global average.
“Healthy gains in cement demand are also expected in many developing countries throughout the region as population growth and urbanization contribute to greater activity in all sectors of the construction industry.
“Developing countries in the Asia/Pacific region will see similarly strong growth, but a weak outlook in wealthy countries such as Japan and South Korea will constrain the pace of gains. Demand growth for cement in Central and South America will be in line with the global average, reflecting solid economic advances.