In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
March, 2021: Taiheiyo Cement Corporation to set up a new production line at Taiheiyo Cement Philippines starting from April, 2021.
March, 2020: Calera Capital announced the acquisition of Thayer Power & Communication, to upgrade services for the utility and telecommunications industries.
The global green cement market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing adoption of green construction practices, combined with massive increase in construction activities to support the growing population. According to the data by the International Energy Agency, buildings construction is responsible for over 33% of global final energy consumption, and 40% of the carbon dioxide emissions. The green construction initiatives are being extensively adopted owing to the rising environment awareness regarding pollution caused by various construction activities, including production of cement. Energy consumption accounts for around 20 to 40% of production costs of cement, as more than 2oo kg of coal is used to manufacture 1 ton of cement. On the other hand, green cement is produced by recycling waste material, such as, fly ash, or silica fumes, which makes the concrete environment friendly. Such factors are estimated to boost the market growth. Furthermore, green concrete offers greater strength and resistance against weather conditions and other damages, which is also expected to propel its demand over the forecast period.
The market is segmented by application into mass construction, bridges and roads, and others, out of which, the mass construction segment is anticipated to hold the notable share in the global green cement market over the forecast period on account of high strength delivered by green cement, which is required for mass construction projects, such as, dams, retaining walls, and drains. Moreover, a large quantity of cement is required for such massive projects, and use of traditional cement can negatively impact the environment. This is why, the use of green cement is popular for larger construction. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global green cement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness notable growth over the forecast period on the back of increasing construction activities to accommodate the growing population, along with rising government initiatives to curb the pollution levels.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing environment concerns amongst the population as well as the government authorities. The adoption of green construction practices in the developed countries, backed by presence of major market players are estimated to boost the market growth. According to the data by the U.S. Green Building Council, buildings are responsible for around 40% of the CO2 emissions in the United States.
The global green cement market is further classified on the basis of region as follows:
Our in-depth analysis of the global green cement market includes the following segments:
Ans: The growing adoption of sustainable construction practices is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 – 2031.
Ans: Lack of awareness regarding green cement is estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period growing construction industry, and adoption of sustainable construction practices.
Ans: The major players in the market are Navrattan Group, Ecocem Ireland Ltd., Kiran Global Chem Limited, Heidelbergcement AG, Votorantim Cimentos, Minerals Technologies Inc., Taiheiyo Cement Corporation, CEMEX S.A.B. de C.V., and Calera Capital.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, application, end-user, and by region.
Ans: The infrastructural segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.