Over time, cement market growth depends on GDP, demographics, technology, policies, and shifting demographic patterns. During the past 30 years all these factors have changed in ways both positive and negative for US cement consumption. This analysis includes an outlook for the next five years; just enough time for any of these factors to exert a strong impact on how fast demand grows.
One of these inputs is population change. After years of growth of almost 2%, the US is now approaching zero growth. If not for immigration, the country would already be at zero growth. SC Market Analytics’ (SCMA) estimate for future population growth is under 0.5% through to 2024. Part of this is due to the continued decline in domestic births per family and part is due to lower immigration. When used in isolation, it means a slowdown in cement consumption. But this article will look at the other factors behind cement demand growth to see if they counter this drag from slow population growth.
Read the article online at: https://www.worldcement.com/special-reports/22042019/falling-short-of-supply/