Cement & Concrete Products Manufacturers NAICS 3273

May 30, 2025 - Consumption Forecast to Fall

• US cement consumption is expected to decline 1.6% this year, according to the American Cement Association’s (ACA) Spring Forecast. Cement shipments are expected to fall to 99.98 million metric tons (Mt) this year, from 101.57 Mt in 2024 and 107.13 Mt in 2023 – representing 0.6% and 5.25% year-over-year declines respectively. Demand for cement depends on construction activity, which has been hampered by high interest rates, subdued housing markets, weak commercial and waning industrial building activity, and economic uncertainty due to growing trade tensions. “’Uncertainty’ is a key consideration for the construction industry’s outlook in the near term,” said ACA Regional Economist Trevor Storck, adding “The cement industry’s baseline assumes continued improvement in trade negotiations, like the progress seen this week with China. This will provide relief to markets and help restore some investor confidence, supporting a rebound in economic activity.”
• US cement production declined last year, according to the US Geological Survey. In 2024, US Portland and blended cement production fell 4% to an estimated 86 million tons, and masonry cement production also fell 4% to an estimated 2.2 million tons. Cement was produced at 99 plants in 34 States and Puerto Rico. Texas, Missouri, California, and Florida were the leading cement-producing states, accounting for approximately 43% of domestic production. Overall, the US cement industry’s growth continued to be constrained by closed or idle plants, underutilized capacity, production disruptions from plant upgrades, and relatively inexpensive imports, per the USGA. In 2024, shipments of cement were an estimated 110 million tons with an estimated value of $17 billion. An estimated 70-75% of sales were to ready-mixed concrete producers, 12% to concrete product manufacturers, 8% to 10% to contractors, and 5% to 10% to other customers.

• The highly-concentrated US concrete industry consolidated even further in 2025 with the acquisition of Summit Materials by packaged-concrete manufacturer Quikrete in February. The $11.5 billion deal (including debt) merged the aggregates, cement, and ready-mix concrete businesses of Summit with Quikrete's concrete and cement-based products business to create a “behemoth producer of construction materials in North America.” Summit Material’s largest shareholder, Colombian concrete-maker Cementos Argos, supported the deal with Quikrete, the companies said. M&A activity in the sector is picking up, driven by increasing demand for building materials and government spending on infrastructure projects.
• Employment by cement and concrete products manufacturers grew 2.1% in March compared to a year ago, while average industry wages rose 6.5% over the same period to $27.75 per hour, according to the latest US Bureau of Labor Statistics data. Employment by the industry is seasonal, typically falling in winter and peaking in the warm summer months along with construction activity. The industry’s rising payroll costs are supported by higher producer prices for cement and concrete products manufacturers. Industry producer prices have been rising steeply since 2021, albeit at a slower pace beginning in the later half of 2024.