The Portland Cement Association’s (PCA) Chief Economist and Group Vice President, Edward J. Sullivan, has predicted that cement consumption will grow by 7.5% y/y and that growth will continue with a slight increase again in 2016. Speaking at the 2015 PCA Spring Meeting, Sullivan said: “The forecast indicates that the healing in the US economy has taken place.”
“Industry projections continue to be in line with generally improving economic construction fundamentals,” he added.
Sustained strength in job creation, coupled with a gradual shift in the mix of jobs toward higher skills and more significant wage pressures suggest added strength to consumer spending. Consumer balance sheets have endured a healing period, and with improvement in the labour markets will be more able to spend than they have been in quite some time.
Sullivan forecasts that cement and clinker imports would increase to 36.6% in 2017, up 24 percentage points from the previous year. The rapid growth is projected to continue at an even higher rate in 2018.
Edited from various sources by Katherine Guenioui