Oct. 10, 2022 – Portland Cement Association Chief Economist Ed Sullivan noted in Denver at the ConcreteWorks show that housing market weakness will bring 2023 cement consumption down 3.5% from 2022 levels (trending +2.9% vs. 2021), followed by gains in the 1-3.5% range over the next three years. The Infrastructure Investment and Jobs Act will definitely help producers but not offset volume losses in residential and commercial building markets. No one in the crowd of 400-plus seemed phased by the projections. His long-term outlook called for increases in four of the next five years.
2021, 4.1%
2022, 0.3%
2023, -3.5%
2024, 4.3%
2025, 3.6%
2026, 3.8%