SKOKIE, Ill—According to the latest forecast from the Portland Cement Association (PCA), cement consumption growth will continue in 2013 with a 6.2 percent increase, based on the strongest cement consumption gains in seven years in 2012. The majority of the market recovery is predicted to occur in the second half of 2013.
The recession has created pent-up demand, not just for consumer products, but also construction. The PCA expects housing starts to reach nearly one million in 2013. Multifamily construction also continues to grow at a strong pace, and this trend should continue as favorable fundamentals fuel the sector. An additional growth of 29 percent is expected by the PCA in 2013 to 318,000 units of multifamily starts.
The accelerated consumption predicted during the second half of 2013 should carry into the following year, which has lead the PCA to project an increase of 9.2 percent for 2014. The PCA has also upwardly revised its long-range projections for 2015 to 2017. Annual growth during that period is now anticipated to be as high as 11.1 percent. The prediction by the PCA is that cement consumption levels will reach 120 million metric tons by 2017.
More information about this PCA Forecast or the PCA in general can be found here.