A new report by Reports and Data estimates that the Global Green Cement Market will reach USD 44.86 Billion from USD 23.16 Billion in 2020, delivering a CAGR of 8.7% through 2028. A significant rise in the construction activities in emerging economies, shifting focus towards the adoption of alternative fuels from waste or renewable materials, and growth in initiatives to reduce carbon emissions are the factors driving green cement market growth.
Green cement is gaining massive popularity, as it is an environmentally friendly alternative to the traditionally used Portland cement. The green cement also offers various benefits, such as better functionality, lesser carbon dioxide release than the traditional cement, and requires very few natural materials during the production process.
The green cement industry is at a nascent stage as several companies are still carrying out R&D activities to enhance the capabilities and properties of the product. With strict environmental regulations, subsidies for the production of green materials, and government initiatives to improve tax conditions for the product will supplement green cement market share through 2028. Moreover, the emergence of Frerrocrete and Limestone Calcinated Clay Cement technologies to improve the effectiveness of green cement and other technological developments will also boost industry growth over the forecast period.
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Key players operating in the global green cement market are Anhui Conch Cement Company (China), China National Building Material Co., Ltd. (China), CEMEX S.A.B. de C.V. (Mexico), Italcementi (Italy), CeraTech (India), Calera Corp. (U.S.), LafargeHolcim Ltd (Switzerland), Kiran Global Chems Limited (India), Navrattan Blue Crete Industries Pvt. Ltd. (India), HeidelbergCement (Germany), Calera Cement, LafargeHolcim Ltd, Solidia Technologies, Inc., Novacem Limited, CeraTech Concrete, and Thomas Concrete, among others. The market is highly fragmented in nature, with different players involved in production and distribution.
Further key findings from the report suggest
- Based on type, the fly ash-based segment forecast to generate revenue share close to USD 14.39 Billion, delivering a CAGR of 9.6% through 2028. The robust growth can be attributed to the growing product demand in the construction industry and shifting focus on the use of environmentally friendly products.
- Based on application, the residential segment is anticipated to register a notable CAGR of 9.3%, contributing to a revenue share close to USD 20.49 Billion by 2028. The rapid urbanization in emerging economies and a mounting need for environmentally safe buildings are fuelling segmental growth. Moreover, the introduction of eco-friendly materials by several manufacturers will also boost the product adoption.
- In the regional landscape, the Asia Pacific region is expected to witness the fastest growth rate of 9.3% over the analysis period on account of growing construction and infrastructural development activities in emerging economies, primarily in China and India.
- North America is forecast to witness a growth rate of 9.1%, generating a revenue of USD 15.69 Billion in the green cement market share by 2028. The green cement market is highly fragmented. However, the majority of key players are located in North America. The stringent regulations for high carbon emissions prescribed by intergovernmental and regional agencies in the region to address environmental degradation are poised to foster North American green cement market revenue share over the projected timeframe.
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For the purpose of this study, Reports and Data has segmented the market on the basis of type, application, end-user, and region
Type Outlook (Revenue: USD Billion; 2020-2028)
- Fly ash based
- Class F
- Class C
- Slag based
Application Outlook (Revenue: USD Billion; 2020-2028)
End-User Outlook (Revenue: USD Billion; 2020-2028)
- New Construction Activities
- Repair & Maintenance Activities
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
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Regional Bifurcation of the Green Cement Market Includes:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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