World demand to rise 5.3% annually through 2015
Global demand for hydraulic cement is forecast to rise 5.3 percent per year to 4.3 billion metric tons in 2015, valued at $335 billion. Gains will be fueled by rising investments in infrastructure among the developing countries of the world, driven by economic growth and increasing per capita income levels. Additionally, there will be a substantial rebound in cement demand in industrialized markets such as the US and Western Europe. However gains in demand through 2015 will lag the robust advances seen from 2005 to 2010, due in part to a deceleration in growth in the huge Chinese cement market.
Global demand for hydraulic cement is forecast to rise 5.3 percent per year to 4.3 billion metric tons in 2015, valued at $335 billion. Gains will be fueled by rising investments in infrastructure among the developing countries of the world, driven by economic growth and increasing per capita income levels. Additionally, there will be a substantial rebound in cement demand in industrialized markets such as the US and Western Europe. However gains in demand through 2015 will lag the robust advances seen from 2005 to 2010, due in part to a deceleration in growth in the huge Chinese cement market.
Buy Now : World Cement Market
Dominant Chinese market for cement is maturing
China, which accounts for 56 percent of world cement demand, is forecast to see product sales climb 4.9 percent per year through 2015 to 2.35 billion metric tons. This rate of growth will be about the same as the regional average but a deceleration from the 2005-2010 period. The maturing of the Chinese cement market, combined with a slowdown in the pace of construction spending gains, will serve to moderate the double-digit yearly demand growth exhibited from 2000 to 2010.
US to post strongest gains of any major cement market
The US will post the strongest demand gains — averaging 9.4 percent annually an expected robust recovery in residential construction spending. Nonresidential building construction activity in the US will also rise after a period of decline and nonbuilding construction expenditures growth will accelerate, further bolstering overall cement sales.
Blended cement to further increase market share
Blended cement, the leading cement product type in 2010, is expected to further increase its share of the market total over portland cement and will account for more than 70 percent of all product consumption in 2015. Suppliers of blended cement will continue to benefit from its typically lower costs and positive environmental profile compared to straight portland cement. Cement firms are increasing the use of cementitious materials such as fly ash and blast furnace slag in their products, which reduces carbon dioxide emissions from the production of portland cement clinker.
Ready-mix concrete to be fastest growing market
Ready mix concrete will continue to be the fastest-growing market for cement through 2015, when it will account for 27 percent of global demand. Construction contractors will be the second largest market, followed by consumers, concrete products and other markets. While readymix dominates cement demand in developed world markets such as the US and Japan, in many industrializing countries sales to consumers or construction contractors are more common. This is changing rapidly, particularly in urban areas of China and India, where the efficiency benefits of ready-mix concrete are allowing this market to gain a larger portion of cement demand.
Study coverage
Details on these and other findings are presented in the new Freedonia industry study, World Cement, priced at $6300. It presents historical demand data for the years 2000, 2005 and 2010, as well as forecasts for 2015 and 2020 by cement type, market (e.g., ready-mix concrete, construction contractors, consumer, concrete products), world region and for 45 major countries. In addition, the study also considers key market environment factors, assesses global industry structure, evaluates company market share and profiles 42 industry players worldwide such as Anhui Conch Cement, Italcementi, CEMEX, HeidelbergCement and Holcim.
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