Global demand on cement to grow 1.5%

Global demand on cement to grow 1.5%

Mubasher: The World Cement Association (WCA) expects global demand to grow by 1.5% next year.

The demand forecast is an improvement from the 0.5% dip in cement volumes this year, and 1% increase in 2017, the WCA said in a report on Wednesday, as cited by Reuters.

Economic risks and trade tensions are weighing on the construction industry in many countries, however China, which consumes more than half of the world's cement, is expected to see a rise in demand by 0.5% after two years of decline.

In the rest of the world, the WCA expects cement demand will increase by 2.8% in 2018, down from 3.3% last year.