Cement Use Growth 8% in 2015 Without the Help of Low Oil Prices

According to the Portland Cement Association (PCA), cement consumption in the United States this year is projected to increase an annual 8% to 93 million metric tons and then increase another 7.9% in 2016. The low price for oil will result in a financial stimulus for consumers and contractors, however, immediate cutbacks in the oil industry are thought to neutralize any long-term gains in construction. The PCA forecasts that 3 million new jobs will be created and housing projects will increase this year to 1.2 million units. These projects are expected to use 60% of all cement consumption this year in the United States.

This is continued good news for the industry, which is beginning to rebound following the last downturn.



Categories: General Business Posts, Uncategorized

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