Lower Carbon Cement Market Segmentation by Type of Product (Recycled Aggregates, Fly Ash Based, Slag Based, Limestone Based, and Others); by Application (Commercial, Residential, Industrial, and Others) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3788 | Published Date: Feb 06, 2023
On the basis of geographical analysis, the global lower carbon cement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to acquire the largest share and witness noteworthy growth over the forecast period on the back of the increasing population, leading to a mounting need for economic development in the region. As per the World Bank, in 2020, the population of South Asia was 1.857 billion, up from 1.836 billion and 1.814 billion in 2019 and 2018.
In addition, growing concerns associated with carbon dioxide emissions is also expected to augment the sales of lower carbon cement in the region. Moreover, the market in North America is also projected to gather a significant share during the forecast period owing to stringent regulations associated with carbon emissions, and high disposable income of the region.
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The global lower carbon cement market is further classified on the basis of region as follows:
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.
Our in-depth analysis of the global lower carbon cement market includes the following segments:
By Type of Product
By Application
Growth Drivers
Challenges
October 2021- Holcim introduced a sustainable floor system for the future. The specialty of this system is that it would use 50% less material compared to traditional structures, and hence lower down the CO2 emissions by 80%.
July 2021- Schwenkzement acquired more than 50% of the shares of Akmenes Cementas AB cement plant in Lithuania which now gives rise in total holding of company shares to 97%.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: The major factors driving market growth are rising need to combat climate changes across the globe, and rapid growth of urbanization.
Ans: The market is anticipated to attain a CAGR of 8.5% over the forecast period, i.e., 2022 – 2030.
Ans: Low awareness about the benefits of this cement in underdeveloped regions is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing population, leading to a mounting need for economic development in the region.
Ans: The major players in the market are Hoffman Green Cement Technologies, Celitement GmbH & Co. KG, The Holcim Group, SCHWENK ZEMENT KG, and others.
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 type of product, application, and by region.
Ans: The recycled aggregates segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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