PCA forecasts growth trend to continue, imports to increase rapidly

PCA forecasts growth trend to continue, imports to increase rapidly
Published: 14 April 2015

Tagged Under: PCA imports USA Consumption 

US cement consumption will continue its growth trend in 2015, with cement and clinker imports forecast to grow rapidly in 2017 and beyond, according to the Portland Cement Association (PCA).

During the 2015 PCA Spring Meeting, PCA chief economist and Group VP Edward J Sullivan projected that total cement consumption would increase by 7.5 per cent from last year, and continue to grow in 2016 by 7.9 per cent.

"The forecast indicates that the healing in the US economy has taken place," said Mr Sullivan. "Industry projections continue to be in line with generally improving economic construction fundamentals."

Sustained strength in job creation, coupled with a gradual shift in the mix of jobs toward higher skill sand more significant wage pressures suggest added strength to consumer spending, PCA adds. Consumer balance sheets have endured a healing period, and with improvement in the labor 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 per cent in 2017, up 24 percentage points from the previous year. The rapid growth is projected to continue at an even higher rate in 2018.