Global Green Cement Market Highlights over 2022 – 2031
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
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Green Cement Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global green cement market includes the following segments:
By Product
- Fly Ash Based
- Slag Based Concrete
- Geo-polymer
- Silica Fume Based
- Others
By Application
- Mass Construction
- Bridges and Roads
- Others
By End-User
- Commercial
- Infrastructural
- Industrial
- Others
Growth Drivers
- Growing Adoption of Sustainable Construction
- Environment Friendly Nature of Green Cement
Challenges
- Increase in the Construction Costs
- Lack of Awareness Regarding Green Cement
Top Featured Companies Dominating the Market
- Holcim Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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.
- Calera Capital
