Global Lower Carbon Cement Market Highlights 2022 – 2030
The global lower carbon cement market is estimated to garner a sizeable revenue and grow at a CAGR of 8.5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be primarily attributed to the need to combat climate changes, giving rise to the usage of sustainable products that cause less harm to the environment. Along with these, rapidly growing urbanization and increasing construction activities across the globe are projected to offer abundant growth opportunities to the market in the near future. According to the United Nations Conference on Trade and Development (UNCTAD), by 2019, the share of urban population in the world increased to 55.7, up from 51.1 percent in 2009. The rate was highest in developed regions, accounting for 80.5 percent of the population. Furthermore, government efforts to reduce carbon dioxide emissions across the globe, and rising development of net zero buildings are also expected to significantly drive market growth in the upcoming years.
Get more information on this report: Download Sample PDF
The market is segmented by type of product into recycled aggregates, fly ash based, slag based, limestone based, and others, out of which, the recycled aggregates segment is anticipated to hold the largest share in the global lower carbon cement market. This can be accounted to the rapidly growing urbanization which is elevating the use of recycled aggregate concrete for construction projects, landscaping and home improvements. Apart from this, this type of cement is highly reliable, safe to use, and conserves landfill space, which is also expected to boost the growth of the market segment in the years to come. Additionally, on the basis of application, the residential segment is predicted to acquire the largest share during the forecast period owing to the high economic growth in developed and developing regions, which is raising the need for infrastructural development.
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 Lower Carbon Cement Market Regional Synopsis
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.
Get more information on this report: Download Sample PDF
The global lower carbon 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 lower carbon cement market includes the following segments:
By Type of Product
- Recycled Aggregates
- Fly Ash Based
- Slag Based
- Limestone Based
- Others
By Application
- Commercial
- Residential
- Industrial
- Others
Growth Drivers
- Rising Need to Combat Climate Changes Across the Globe
- Rapid Growth of Urbanization
Challenges
- Low Awareness about the Benefits of this Cement in Underdeveloped Regions
Top Featured Companies Dominating the Market
- Hoffmann Green Cement Technologies
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Celitement GmbH & Co. KG
- The Holcim Group
- SCHWENK ZEMENT KG
- HEIDELBERGCEMENT AG
- Navrattan Group
- Taiheiyo Cement Corporation
- CEMEX S.A.B. de C.V.
- Votorantim Cimentos
- Orient Cement Limited
