The market for green cement is expected to grow at a CAGR of around 15.8% from 2020 to 2027 and expected to reach the market value of around US$ 60.4Bn by 2027.
Green cement is produced with the help of a “carbon-negative manufacturing process.” Basically, it is produced as the final product of a technologically advanced process, like emissions during unit operations (like clinker production) are minimized and are referred to as green cement. Green cement has desired characteristics such as reduced porosity and enhanced mechanical strength. It is capable of sustainable development and it’s an application of industrial wastes in order to reduce the consumption of natural resources and energy and pollution of the environment. Green cement is an eco-friendly material that resolves serious environmental issues and simultaneously minimizes the carbon footprint of cement production.
The rising prevalence of stringent environment regulations and the growing construction industry in the Asia Pacific region is supporting regional market growth. The increasing population is boosting the demand for houses across the globe which is bolstering the market growth. The rising awareness about sustainable infrastructural development in order to combat the rising environmental problems is further propelling the market value. Furthermore, initiatives by the companies like they have utilized numerous raw materials to obtain cost-effective green cement mixture as well as advancements by manufacturers are projected to create potential opportunities over the estimated period.
On the other side, the high price associated with the green cement is anticipated to limit the growth to an extent throughout the forecast timeframe from 2020 to 2027.
Residential segment accounted for the maximum revenue share in the global market
In 2019, the residential segment is leading the green cement market with a major revenue share (%) and is projected to exhibit potential growth throughout the forecast period. The expanding nuclear family trend across the globe coupled with the increased number of residential construction and ultimately bolstering the demand for green cement. The rapid urbanization in emerging economies across the globe is supporting the residential segment growth. Additionally, the rising focus towards the environment-friendly residential infrastructure with the help of respective eco-friendly materials is further propelling the segmental market value.
Asia Pacific region is estimated to register fastest growth throughout the forecast period
The Asia Pacific region is projected to experience the fastest growth with a major CAGR (%) in the green cement market. The rapid urbanization, increasing disposable income, increasing population, rising awareness towards sustainable development, increasing demand for eco-friendly construction materials, are some of the factors bolstering the construction sector of emerging economies of the region which is simultaneously supporting the demand for green cement. The ongoing efforts of major manufacturers in the region in order to take advantage of available opportunities are further accelerating the regional market value.
Key Market Players
The players profiled in the report include ACC Limited, Anhui Conch Cement Company, CEMEX S.A.B. de C.V., China National Building Material, CNBM, Heidelberg Cement AG, LafargeHolcim, Navrattan Blue Crete Industries Pvt. Ltd., Siam Cement Public Company (SCG), Taiheiyo Cement Corporation, Taiwan Cement Corporation, UltraTech Cement Ltd., Votorantim cimentos S.A., and Others. The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new product development for the expansion of market share (%). For instance, Hoffmann Green Cement Technologies, a 2014 founded company designs, produces and distributes innovative low-carbon cements with a substantially lower carbon footprint compared to traditional cement. In addition, LafargeHolcim has announced the EcoLabel, and advancement in the green cement market. Company has one-third of its net sales already in green building products and is expanding with this new launch.
Market By Product
Market By Application
Market By Geography
Middle East & Africa
The market for green cement is expected to reach a market value of around US$ 60.4 Bn by 2027.
The green cement market is expected to grow at a CAGR of around 15.8% from 2020 to 2027.
The residential is the leading segment by application in the green cement market
The rising prevalence of stringent environment regulations, growing construction industry in Asia Pacific region, increasing population is boosting the demand of houses across the globe, rising awareness about the sustainable infrastructural development in order to combat the rising environmental problems are some of the factors driving the market growth.
ACC Limited, Anhui Conch Cement Company, CEMEX S.A.B. de C.V., China National Building Material, CNBM, Heidelberg Cement AG, LafargeHolcim, Navrattan Blue Crete Industries Pvt. Ltd., Siam Cement Public Company (SCG), Taiheiyo Cement Corporation, Taiwan Cement Corporation, UltraTech Cement Ltd., and Votorantim cimentos S.A. are some of the prominent players in the green cement market.
Asia Pacific is expected to be the fastest growing market over the forecast period
The increasing demand of environment friendly materials in the construction sector is the recent trend in the green cement market.