2024, the cement industry in the United States showed a trend of declining production and increasing import dependence, and the Trump administration's tariff policy brought uncertainty to the industry.
In 2024, there were 99 cement plants in the United States, with an annual cement output of 86 million tons, down 4.44% from the previous year. Among them, the output of Portland cement is 84 million tons and the output of masonry cement is 2.2 million tons. Texas, Missouri, California and Florida are the top producers, accounting for 43% of cement production in the United States. Factory closure, shutdown and transformation, as well as the impact of imported low-priced cement, are the main factors leading to the decline in production. Domestic consumption is generally stable, but seasonal differentiation is obvious. In the first three quarters, demand shrank due to the reduction of housing construction projects. In the fourth quarter, interest rate cuts and the government's increased infrastructure efforts reversed, and consumption was basically flat throughout the year.
Since 2022, cement plants have been closed in California, Maine, New York and other places due to the tightening of environmental protection policies, and this trend continues, limiting domestic cement production in the United States. In 2024, the United States imported 24 million tons of cement, and the total domestic consumption reached 110 million tons. Of the imported cement, 32% came from Turkey, 22% from Canada and 46% from other countries such as Vietnam and Greece. In terms of
price, the price of cement in the United States will rise from $150/ton to $160/ton in 2024. If the government imposes tariffs, it will further increase the price of domestic cement and restrain consumption.
The Trump administration has threatened to impose tariffs on imports from Canada, China, Mexico, and the European Union, with tariffs on Canada and Mexico announced on February 1, 2025, followed by a one-month suspension for negotiations; tariffs on China have been implemented; and tariffs on the European Union have been proposed but not yet acted upon.
If a 25% tariff is imposed on imported cement from Canada and Mexico, it will have a significant impact. In a statement, the Portland Cement Association (PCA) agreed with the original intention of the tariff policy, but warned that it could damage energy and national security, delay infrastructure projects and increase costs. It points out that imports from Canada and Mexico account for nearly 7% of cement consumption in the United States, and emphasizes that Canadian cement accounts for 36% of consumption in northern States such as New York and Washington. The Mexican Cement Industry Association (CANACEM) warned of a "competitiveness crisis" in the United States. Taxes on cement imports from
Canada and Mexico may lead to a shortage of supply in the United States in the short term, which will push up consumer prices, and the impact on import-dependent regions in the border areas will be more significant. If the production lines of these countries can not find other markets because of tariffs, they may be forced to idle. Cement producers in
the United States are expected to benefit from the tariff policy due to increased demand and higher prices, but sudden changes in the import market may also trigger adverse market effects such as shortages. Many U.S. cement companies are multinational groups, and given the strong performance of the U.S. market compared with other regions, some companies have become more "American" by listing in the United States or focusing on North American mergers and acquisitions.
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