Global cement consumption is expected to record sustained growth in 2015, with further gains forecast for 2016, according to analysis presented in the recently-released Global Cement Report, 11th edition.
The report, which covers key cement market data for over 170 countries, reveals that total world consumption rose by 2.6% in 2014 to 4140Mt, compared to the 7.7% growth achieved in 2013. Global demand growth has been driven by the phenomenon of China, which has increased its share of world consumption to reach 59% in 2014.
Closer analysis shows that steady growth has prevailed in the emerging markets where in 2014 consumption (excluding China) increased by 2.7% 1387Mt. In the mature markets of Europe and North America, overall demand growth returned to positive territory in 2014, rising by 2.8% to reach 290.6Mt.
Leading markets
The top five consuming nations in 2014 were China, India, USA, Brazil and Russia. Ten Asian countries are in the top 20, and the Philippines and Malaysia entered the top 20 for the first time. France and Italy fell out, reflecting the decline of western European consumption.
Demand in China reached a record 2462Mt, translating into an annual increase of 2.6% – the slowest growth rate in decades, suggesting that the country is nearing peak demand for cement.
The best-performing regions across the world over the 2012-14 periods were in the emerging markets of sub-Saharan Africa, led by central Africa with double-digit rate increases in each year.
Growth outlook
Looking ahead, general improvements in global growth trends are expected in 2015 and 2016, with forecast increases of 3.3 and 4.6%, respectively. North and central Asia are set to excel, as will much of Africa. Overall growth in Asia is forecast to be around 3-5%, partly reflecting China’s expected lower growth course. The Middle East and Western Europe are expected to rebound, but obvious downside and political risks prevail.
For more information on the Global Cement Report 11th Edition and access to the companion database, visit: http://www.CemNet.com/GCR11
