Global demand for hydraulic cement is forecast to rise 5.3% a year to 4.3billion tonnes, valued at US$335 (€250billion), by 2015, according to industry research firm The
Gains will be fuelled by rising investments in infrastructure among the developing countries of the world, driven by economic growth and increasing per capita income levels. Additionally, US-based Freedonia claim that a rebound in cement demand in industrialized markets such as the US and Western Europe will further spur cement sales.
However, gains in demand until 2015 are said to not be as substantial as those between 2005 and 2010, mainly due to a deceleration in China's cement consumption.
Freedonia said China accounted for 56% of world cement demand in 2010. The country's demand for cement is forecast to climb 4.9% per year until 2015 to 2.35billion tonnes.
The US will post the strongest individual country demand gains, according to Freedonia, of 9.4% annually until 2015. Increases will be stimulated by a robust recovery in residential construction spending, which will post growth of more than 13% annually until 2015. Non-residential building construction activity in the US is also predicted to rise after a period of decline, and non-building construction growth will accelerate, further bolstering overall cement sales.
Blended cement, the leading cement product type in 2010, is expected to continue to account for over 70% of all product consumption in 2015, benefiting from its typically lower costs and better environmental profile than straight portland cement.
Meanwhile, cement firms are said by Freedonia to be 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. The type of cement used varies dramatically from country to country. For example, in China, more than 90% of demand is attributable to blended cement; whereas in the US, blended cement comprises less than 5% of demand.
Details of The Freedonia Group's research are featured in the latest edition of World Cement magazine.
