UK: Global construction activity is forecast to rise more than 70% by 2050, reaching a value of US$16.6tn. This will be driven by five trends - population growth and urbanisation, infrastructure and housing deficits, climate adaptation, sovereignty and strategic resilience and high-tech infrastructure - according to a new report by Oxford Economics and commissioned for the Global Cement and Concrete Association (GCCA). Oxford Economics estimates that concrete demand from utilities, transport and social building sectors alone will reach 20Bnt/yr by 2050. The GCCA advocates that it is ‘critical’ that the cement and concrete industry is positioned as part of the solution to a more demanding global infrastructure challenge.
Thomas Guillot, Chief Executive of the GCCA, commented “…to achieve the industrial scale transformation that our world needs, we need governments to help stimulate demand for low-carbon materials, enable waste-derived fuels, promote circularity and back the deployment of carbon capture technologies.”
Adrian Hart, author of the report at Oxford Economics, added “Concrete will be central to meeting this challenge, not just in delivering the infrastructure and housing the world needs, but in supporting economic development, improving living standards and building more resilient communities. The challenge is to deliver more infrastructure and greater economic value, while also reducing emissions and improving sustainability.”
