BETHLEHEM, West Bank — A week after Israel and the United States announced a deal to export millions of tons of coal and millions of cubic meters of cement to both countries, a new Israeli-US report details a new market in cement that’s growing faster than the Israel-U.S. deal.
The report, prepared by Israeli researchers at the Ben-Gurion University of the Negev and released on Tuesday, found cement demand for both countries has risen nearly 60 percent in just the last two years, with an annual growth rate of about 3 percent.
The two-year average growth rate for cement in Israel was 3.1 percent, and in the U.S., cement demand has grown by about 5 percent annually, the report said.
“This cement boom is the most significant and rapid growth in cement supply since the industrial revolution,” said the report’s lead author, Shai Ben-Zvi, a researcher with the Ben Gurion University of The Negevi.
“It is the largest and fastest growth in demand for cement ever recorded, and the cement boom has only just begun.”
The report analyzed cement production data from Israel and U.A.E., the European Union and China, and estimated that by 2020 the total cement supply in both countries will exceed that of Israel’s demand by a factor of 10.
It’s an indication of the continued global demand for the commodity, the experts said.
And it shows that cement demand is continuing to grow at a rapid pace.
“Cement demand in both Israel and America is on the rise.
Both countries have invested billions in infrastructure to meet demand, and this is creating jobs and creating opportunities,” said Ben-Ben Zvi.
Both Israelis and Americans are keenly aware of cement as an important source of power generation and transportation, but a large part of cement supply comes from China, according to the report.
The U.K. also plans to invest heavily in cement production.
And cement is a major component of cement production in India, Brazil, Egypt, Mexico and Indonesia.
In 2015, China overtook Japan as the world’s top cement producer, with the U!
A.C.E. cement market accounting for almost a third of its total cement output, according the U!.
Cs. cement industry report.