Growing interest towards sustainable construction and increasing concerns regarding greenhouse gas emissions from cement production are key factors driving market growth
The global green cement market size is expected to reach USD 43.79 Billion in 2028 and register a revenue CAGR of 9.0% during the forecast period, according to a latest report by Reports and Data. Steady shift towards sustainable construction along with governmental investment in eco-friendly sustainable infrastructure is expected to drive market revenue growth during the forecast period. The Belt and Road Initiative (BRI) of China is supporting development of more environmentally sustainable infrastructure in order to minimize carbon emissions. Moreover, the government in the country is also planning to invest around USD 13 trillion on buildings by 2030 in order to boost the construction of zero carbon buildings. The zero carbon buildings are expected to enable countries like China to keep pace with current construction rates while simultaneously lowering Greenhouse Gas (GHG) emissions. These factors are boosting demand for green cement and driving revenue growth of the market. Rising concerns regarding GHG emissions during the production of Ordinary Portland Cement (OPC) is a major factor boosting usage of green cement as it minimizes emissions by more than 60% for each ton of OPC. Low availability of raw materials, rising environmental concerns, and depletion of fossil fuel resources, coupled with increasing demand for cement owing to rapid increase in construction activities is shifting preference towards using sustainable construction materials. Green cement requires less energy for production and carbon emissions are relatively lower.
Some Key Highlights From the Report
- In July 2020, LafargeHolcim, which is a Switzerland-headquartered building materials company, announced the launch of its “green concrete” in the U.S. The company is also planning to introduce its product ECOPact to Canada, Latin America, and the U.K. ECOPact is also expected to emit 30% to 100% less carbon as compared to standard (CEM I) concrete. The product will integrate demotion and upcycled construction materials.
- Fly ash segment is expected to account for largest revenue share in the global green cement market over the forecast period. Increasing investment of government and their favorable policies for construction of sustainable infrastructures is resulting in the rising utilization of fly ash for production of green cement owing to its increasing demand.
- New construction activities segment is expected to register a significantly large revenue growth over the forecast period. Increasing in financing of environmentally sustainable infrastructures and promotion of green construction owing to the need for minimizing carbon emissions for new construction activities is boosting the demand for green cement.
- Residential segment revenue is expected to expand significantly over the forecast period. Presence of stringent regulations regarding greenhouse gas emissions during cement production is driving the use of green cement for the construction of residential buildings.
- The market in Asia Pacific is expected to register steady revenue CAGR over the forecast period. Major companies in the region such as Anhui Conch Cement Co., Ltd., JSW Cement, Navrattan Blue Crete Industries Pvt., Ltd., and China National Building Material , Ltd. (CNBM), are increasingly investing in the Research and Development (R&D) activities in order to produce stronger, durable, cost effective, and sustainable construction material.
- Major players in the market report include Anhui Conch Cement Co., Ltd., Cemex, China National Building Material , Ltd. (CNBM), Italcementi, HeidelbergCement, Navrattan Blue Crete Industries Pvt., Ltd, Siam Cement Group Public Company, Holcim Group, UltraTech Cement Limited, and Taiheiyo Cement Corporation.
For the purpose of this report, Reports and Data has segmented the global green cement market based on type, end use, application, and region:
- Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Fly ash Market
- Recycled Aggregate Market
- Slag Market
- End Use Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- New Constructions Activities
- Repair & Maintenance Activities
- Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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