White cement consumption to top 22 million tons on steady economic growth

GREENWICH, Conn. - Jan. 8, 2020 - PRLog -- Between 2019 and 2024, global white cement demand is projected to increase modestly to over 22 million tons, according to CW Research's 2020 Global White Cement Market and Trade Report. The global economy is expected to recover and continue to grow, providing the backdrop for the encouraging trend, since, as a premium commodity, consumption of white cement benefits from GDP growth and increasing consumer spending.

"In spite of the dark clouds that have been pervading menacingly over the global economic sentiment, the global white cement market managed to weather the storm and come out relatively unscathed, in comparison to the much larger and more followed global gray cement market," notes Prashant Singh, CW Group's Associate Director.

Asia ex-China gains consumption share

At a global level, during the period of 2014 to 2019, the regions that drove the white cement market were North America and Western Europe. Additionally, Asia ex-China has become an important growth center over the past five years. Regions including the Middle East and E. Europe & CIS (primarily Turkey) are facing numerous economic challenges and experienced either decline or stagnation in demand in 2019.

China remains the largest white cement market from a regional perspective, accounting for roughly a third of global demand. However, its share of world consumption is expected to decrease as other regions including Asia ex-China, E. Europe & CIS, and Africa see faster rates of demand growth, outpacing China over the forecast period from 2019 to 2024.

China leads world production

In addition to leading global consumption of white cement, in 2019, China accounts for an estimated 34 percent of the production market, followed by the Middle East, albeit at a very distant second place. Western Europe comes next, followed by Asia ex-China, both holding double-digit shares of the world's white cement output.

"China and the Middle East remain the leaders in production. However, in terms of percentage, North America is expected to more than double its existing capacity by 2024, with the commissioning of US Cement's 0.5-million-ton plant in Brady, Texas," assesses Carolina Pereira, Business Analyst at CW Group.

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More information about the report can be found here: https://www.cwgrp.com/research/research-products/product/293-global-white-cement-market-and-trade-report-2020-update

For more information, placing an order, or interview inquiries, please contact Mihnea Manea, Media and Market Services Executive, CW Group, by phone at +40 723 281 704, or e-mail at mm@cwgrp.com.

About CW Group

The Greenwich (Conn.), USA headquartered CW Group is a leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. www.cwgrp.com