Green Cement Market Overview
Green cement is a type of cement which is manufactured from industrial waste such as mining and quarrying wastes, burnt clay and others. Green cement is known for reducing the carbon footprint during its production process.
Further, green cement provide thermal insulation and superior fire resistance and it is widely used by residential, commercial and many other sectors. It also has the capability to resist alkali attack during climate change.
Market Size and Forecast
The global green cement market is expected to grow at a CAGR of 10.2% over the forecast period i.e. 2017-2024. Further, green cement market is anticipated to reach USD 35.1 billion globally by 2024. The growth of green cement market is driven by various factors such as growing number of construction activities and rising awareness about the environmental risks. Likely, residential sector by end user is the fastest growing segment and it is anticipated to grow at a CAGR of 7.2% by the end of 2024. Residential sector accounts for 42.3% of the overall revenue of green cement in 2016.
In terms of geography, Europe is expected to dominate the global green cement market over the forecast period. Additionally, Europe region in 2016 accounted for the highest market share of 36% of the overall green cement market. Europe is anticipated to witness significant growth owing to the strict regulations taken by government regarding greenhouse gas emission. The major countries witnessing the augmented demand for green cement are U.K. and France.
After Europe, Asia-Pacific is expected to dominate the green cement market over the forecast period i.e. 2017-2024. Further, the growth in this region is attributed to various factors such as rising infrastructural development, growing number of construction activities and rapid urbanization. North America is also expected to show tremendous growth over the forecast period owing to the rising awareness among the population to adopt energy saving solutions like green cement to reduce greenhouse gas emission. Furthermore, Latin America is also envisioned to expand at a CAGR of 7.9% during the forecast period.
Our in-depth analysis segmented the global green cement system market in the following segments:
By Product Type
By End User
Global green cement market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing infrastructural development and rising number of building and construction activities are believed to be the dynamic factor behind the rapid growth of green cement market across the globe. Further, rising greenhouse gases emission has led to various agencies such as United Nation (UN) and others organizations to recommended more use of green cement. This factor is expected to bolster the demand for green cement over the forecast period.
Moreover, presence of strict government regulation for the safety of environment and maintaining the ecological balance is also envisioned to foster the growth of green cement market by the end 2024. Additionally, rising awareness of the green building concept and increasing demand for sustainable products are one of the major factors propelling the growth of green cement market globally. Furthermore, rising adoption of green cement by different sectors owing to greater resistance of green cement to extreme weather conditions, longer life and short setting time is anticipated to garner the growth of green cement market.
However, increase in the construction costs is expected to hamper the growth of green cement market over the forecast period. Moreover, lack of awareness regarding green cement is also envisioned to dampen the growth of green cement market.
The major key players for green cement market are as follows
Scope and Context
Overview of the Parent Market
The global green cement market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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