Green Cement Market Will Rise from USD 37.38 billion in 2023 to USD 73.10 Billion by 2030, Expanding at a rate of 10.76% from 2023 to 2030

May 01, 2023

Green Cement Market Research Report Information By Product Type (Fly Ash based, Slag based, Geopolymer, Others), By Application (Residential, Non-Residential), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

New York (US), June 06, 2023 (GLOBE NEWSWIRE) -- Green Cement Market Overview

According to a Comprehensive Report by Market Research Future (MRFR), "Green Cement Market Information by Product Type, Application, and Region - Forecast till 2030", By 2030, the market for green cement will go from USD 37.38 billion in 2023 to USD 73.10 Billion, developing at a notable rate of 10.76% from 2023 to 2030.

Market Definition

Green cement is a cleaner alternative to traditional cement which is being produced by using industrial by-products like fly ash, blast furnace slag, and recycled industrial waste. A significant reduction in carbon emissions is the major advantage that is being offered by green cement and it is augmenting its worldwide demand. It is also used in the construction of structural columns, buildings, bridges, and dams that form a part of sustainable architectural programs among the various nations.

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Market Competitive Landscape:

The renowned firms in the ceramic tiles industry are

Mohawk Industries (US)

STN Ceramica (Spain)

Siam Cement Group (Thailand)

Grupo Fragnani (Brazil)

Grupo Lamosa (Mexico)

Pamesa Ceramica (Spain)

RAK Ceramics (UAE)

Ceramica Carmelo Fior (Brazil)

Kajaria Ceramics (India)

Grupo Cedasa (Brazil)

Among others.

Report Scope:

Report Attribute

Details

Market Size 2030

USD 73.10 Billion

Compound Annual Growth Rate (CAGR)

10.76% (2023-2030)

Base Year

2022

Market Forecast Period

2023-2030

Historical Data

2018 & 2022

Forecast Units

Value (USD billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Application, and Region

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Dynamics

Low requirement for natural resources use of less water to carry out the process of construction

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With several large manufacturers operating on a global and regional level, the green cement market is quite fragmented globally. Key businesses are focusing on product development and strategic partnerships in order to expand their unique product portfolios and gain a firm presence in the global market.

March 2023

The Macuspana and Tabasco cement plants of Holcim Mexico have started producing its Fuerte Más reduced-CO2 cement at a combined rate of 60,000t/yr. Compared to regular Portland cement, the cement emits 50% less CO2 and performs 10% better physically.

Market USP Covered:

Market Drivers:

The green cement market benefits from the surging usage of special green cementing polymers in this sector. The polymer produced using specialized green cement is used in wires and linkages, gadgets, conductive bundling, film and sheet, filaments, moldings, and lines. Moreover, green cement is being used to give polymers unrivaled properties like UV security and conductive features. Due to its outstanding pigmenting capacity, green cement also has a wide range of uses in the production of printing inks. The expected period's predicted growth in interest in printing inks in the packaging industry is what is driving the demand for green cement.

As the environmental harm caused by carbon emissions is becoming more generally acknowledged, a shift towards eco-friendly materials has occurred. Green cement is so frequently utilized in residential, commercial, and industrial structures. Furthermore, the usage of green cement and the construction of eco-friendly structures have been encouraged by stringent laws and regulations that have been passed by governments of both developed and developing nations.

The expansion of green cement in the residential market is a result of the increasing number of building rules and policies that demand energy-efficient structures. The Affordable Housing Initiative (AHI), the New Building Canada Plan (NBCP), and Made in Canada are just a few of the government initiatives in Canada that are expected to significantly promote the sector's growth and encourage the use of green cement in residential construction.

In February 2022, Manchester City Council (MCC) authorised a nine-year plan to construct four towers. The residential buildings, which would have a height of 39 to 60 stories, will be built on two Trinity Islands parcels of land along the River Irwell. On property that is currently used as a parking lot and would house 1,950 apartments, it would be situated between Regent Road, Liverpool Road, and Water Street.

Market Restraints:

The market expansion during the review period can be constrained by the low knowledge level regarding the advantages of green cement and the high investment needed for its manufacture.

COVID 19 Analysis

In 2020, COVID-19 had an unfavorable impact on the market. To stop the virus's spread, construction work and other operations were suspended, which had a detrimental impact on the economy. The market, however, steadily expanded in 2021 as a result of increased development and construction activities. During the forecast period, the market is anticipated to follow a similar projection.

Additionally, the industry was significantly boosted by a number of factors, such as supportive government regulations for green construction and growing worries about greenhouse gas (GHG) emissions from cement manufacturing. The industry is anticipated to grow as a result of the abundant supply of raw materials like fly ash.

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Market Segmentation

By Product Type

Major product types covered in the report are Fly Ash-based, Slag-based, Geopolymer-based, and other segments. The market can be dominated by products based on fly ash. As a by-product of burning coal, fly ash is frequently used to make concrete and cement in place of some cementitious ingredients. This can lessen the need for cement and prevent waste from going to landfills.

By Application

The key applications of green cement are non-residential and residential. With the biggest market share, the non-residential application. In recent years, the non-residential building industry has been a key factor in driving demand for green cement, particularly for massive infrastructure projects and industrial complexes. But because more homeowners and builders want to employ environmentally friendly building materials and methods, the residential construction industry is also a significant business area.

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Regional Insights

The market in North America will account for the largest revenue share in the upcoming years on account of the development of National Emission Standards for Hazardous Air Pollutants (NESHAP) for the Portland cement manufacturing industry. These Portland cement plant performance standards are also governed by the Environmental Protection Agency (EPA). The state's cement plants are obligated to disclose their greenhouse gas emissions in line with all of the requirements mentioned in the rules, under the region's current legal framework. Manufacturers in the region are investing progressively more in the creation of green cement as a means of adhering to regulations and lowering the carbon footprint of cement production.

The Asia Pacific market will see consistent growth throughout the course of the projected timeline. Rapid urbanization and population growth in the region are expected to boost market expansion, as will a rise in construction activity in developing countries. A number of public projects, including seaports, transportation, and power, have seen recent increases in investment, including those in Malaysia, the Philippines, Thailand, and other nations.

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