Cement consumption in the US is forecast to rise 8% year-on-year to 93 million tonnes in 2015 as growing job markets, greater consumer confidence, and higher construction spending take effect, says the Portland Cement Association (PCA). The PCA believes low oil prices will provide an added financial stimulus to consumers and contractors, but warns that immediate cutbacks in the oil field are expected to offset any long-term gains in construction activity. The Association expects housing starts to rise
Cement consumption in the US is forecast to rise 8% year-on-year to 93 million tonnes in 2015 as growing job markets, greater consumer confidence, and higher construction spending take effect, says the Portland Cement Association (PCA).
The PCA believes low oil prices will provide an added financial stimulus to consumers and contractors, but warns that immediate cutbacks in the oil field are expected to offset any long-term gains in construction activity.
The Association expects housing starts to rise in 2015 to 1.2 million units as 3 million new jobs are created, fuelling consumer spending and demand for residential construction, which is expected to account for nearly 60% of all cement consumption in the US this year.
The PCA forecasts cement use to grow another 7.9% in 2016 to 100million tonnes. The two-year US forecast follows last year’s growth of 8.2% to 86million tonnes, driven largely by non-residential construction and public works, which combined accounted for 87% of US cement consumption.
