Green Cement Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1310
Green Cement Market size is mainly driven by increase in constructional activities and promoting strict government rules and regulation regarding eco-friendly products.
The product is an alternative to conventional cement can be processed by means of industrial waste including recycled concrete, burnt clay, quarrying wastes and power plant wastes, and slag. It is mainly used in industrial, infrastructure, residential and non-residential owing to higher thermal and fire resistance properties, excellent resistance to alkali attack throughout climate and weather changes.
Globally, the cement industry is facing challenges relating to energy resources, CO2 emissions and use of alternative materials. Clay, sand and pulverized limestone are some of the key ingredients used in the production of traditional cement which involves heat treatment process. Green cement does not require ample heat during its production, thus decreases carbon footprint by 40-50% as compared to conventional cement, which accounts over 5% of global carbon dioxide emissions.
Global cement market on basis of application is segmented into non-residential, residential, and infrastructure sectors. Rising demand of commercial constructions including shopping malls, office spaces, theaters, and hospitals will drive green cement market growth in forecasted time frame. Major applications of this eco-friendly cement are to use as a repair material for the construction sector and as a binder in waste management.
Residential sector will lead the global green cement market due to rising population density in urban regions. Demand for residential projects increased substantially which, in turn, has propelled the product market growth. Furthermore, the upward trend in infrastructural development will likely to add to the demand for green cement market in forecasted timeframe.
North America green cement market is going to witness significant rise due to stringent rules and guidelines by the Environmental Protection Agency (EPA) to support environment-friendly raw materials along with growing consumer demand for a clean source of energy will drive green cement market growth. With rising concerns over climate change, environmental activists and regional agencies continue to put pressure on the major companies to adopt an eco-friendly approach in the production of cement.
Asia-Pacific green cement market is expected to witness a substantial growth owing to increasing construction sector in the developing economies of India and China. In recent years, Indian cement industry continues to use more recycled products as fuels and raw materials. China continues to strengthen its dominance by accelerating investment in renewable energy and supporting technologies.
Europe fostering investments in infrastructure development and using recycled products as a raw material for cement production, therefore, green cement market will also benefit from a stable legal framework in forecasted time frame. Increasing population coupled with the current trend for urbanization will drive regional green cement market. Rising demand for sustainable cities that provide access to affordable and energy-efficient housing will add to the product market growth in the region.
Australia cement industry produces over 10m tons of cementitious materials and in process release around 7.2m tons of greenhouse gas emissions .Increasing population and mounting pressure on housing stock will surge the application of concrete in forecasted time frame. Australian cement manufacturing companies are investing heavily in green cement market owing to rise in environmental concern associated with traditional cement.
Middle East & Africa region is anticipated to be profitable for green cement market manufacturing companies in the forecasted timeframe owing to the rise in building construction activities coupled with surge in demand for sustainable product.
Globally, cement industries shifted their focus to overcome challenges related to CO2 emissions using best alternative measures. The major participants of green cement market are CEMEX, Italcementi, Calera, LafargeHolcim, Heidelberg Cement, Manufacturers and China National Building Material Company. These companies are also capitalizing heavily on research and development for better and low-cost product development. Government regulations and norms to control pollution and necessity for promoting green construction, are differentiating and integrating the companies’ role across the value chain.
In July 2016, CEMEX Philippines declared to finance USD 300.0 million in a new cement capacity and will develop company’s business portfolio in the Philippines. In May 2016, Chile completed phase I "Green Town Program" structural construction and the step is a breakthrough accomplishment for CNBM in promoting the “Green Town” strategy. Rising demand for the green town and building projects will significantly add to the green cement market growth in forecasted time frame.
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