Green Cement Market Size-(2023-2028)
The Green Cement Market size was US$ 31.1 billion in 2022 and is expected to be US$ 64.6 billion by 2028, exhibiting a growth rate (CAGR) of 11.9% during 2023-2028.
Cement is a powerful agent that is widely used in construction, but it has a high carbon footprint. Green cement is a more environmentally friendly alternative that is created using industrial by-products like blast furnace slag, fly ash, and recycled waste. Green cement is becoming increasingly popular because it significantly reduces carbon emissions. It is commonly used in sustainable architecture programs for constructing buildings, bridges, dams, and structural columns. The production process for green cement is carbon-negative and utilizes the primary waste products from the industry to create raw materials. The manufacturing process uses fly ash and blast furnace slag as the primary components. Green concrete is made from fly ash, recycled concrete aggregates, and aluminum can fibers. Green cement offers better functionality than standard cement, uses fewer natural resources in production, and emits less carbon dioxide, making it a popular choice. Government programs and grants for the manufacturing of green products are anticipated to encourage green cement market expansion.
The demand for the green cement market is on the rise because of the need to reduce carbon emissions and their negative impact on the environment. Green cement has better functionality, uses fewer natural resources, and emits less carbon dioxide than regular cement, making it more attractive to consumers. This green cement market trend is expected to continue in the coming years, as governments offer tax incentives and grants to encourage the production of eco-friendly products. The underground specialty cement industry is also seeing growth due to the increasing use of specialty green cementing polymer synthesis. Specialty green cement is being used to create polymers with unique properties, such as UV protection and conductivity. Green cement's pigmenting ability has also made it popular in the construction of printing inks. There is a growing trend towards using eco-friendly materials in construction due to the increasing awareness of environmental damage from carbon emissions. Governments of both developed and developing countries have also enacted strict laws and regulations promoting the use of green cement and the construction of eco-friendly structures.
The Green Cement Market growth might be affected negatively because it costs a lot to produce. Both producers and customers are unsure about investing in it because it's a new product and comes with some risks. Making green cement is more expensive than regular cement. Also, not many people in the construction industry and customers know about it, so the demand is low. However, some companies are working on research projects to develop better and more effective green cement that can reduce the environmental impact of cement production. Government incentives can encourage businesses and investors to adopt green cement manufacturing methods.
As people become more aware of the environment, there is a growing demand for construction materials that are eco-friendly and sustainable. Green cement is a type of cement that helps reduce carbon emissions and uses environmentally friendly materials. Many governments around the world are putting strict rules in place to reduce carbon emissions in construction. Green cement fits well with these regulations and is becoming more popular in the construction industry. Scientists and researchers are continuously working on improving the green cement market by finding better ways to make and use it. This makes green cement perform better and more cost-effective, making it more appealing to the construction sector. As both developed and developing countries focus on building more infrastructure, there are significant opportunities for green cement to be used. Governments and project developers are seeking construction materials that are sustainable and have less impact on the environment during infrastructure projects. This creates more opportunities for the green cement market to grow.
The COVID-19 pandemic caused major disruptions worldwide, affecting many industries, including the green cement market. The building and construction sector had to stop their work due to the pandemic, leading to a drop in demand for green cement. People's incomes were also affected by lockdowns, making it harder for them to invest in construction projects.
However, as the COVID-19 situation improved and restrictions eased, industrial and construction activities resumed, and so the demand for green cement market increased again. The market for green cement started to recover as things returned to normal.
October 2022: JSW Cement said it will spend more than INR 3,200 crore (USD 390 million) to build a new eco-friendly cement manufacturing plant in Madhya Pradesh and a grinding unit in Uttar Pradesh. Together, these facilities will be able to produce 5 metric tonnes of cement per year.
July 2022: Hallett Group launched a green cement project worth USD 125 million in Australia. This project will immediately reduce carbon dioxide (CO2) emissions by 300,000 tonnes per year, and in the future, it is expected to reduce emissions by around one million tonnes per year. The project will be located in Port Adelaide, Port Augusta, Port Pirie, and Whyalla.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
11.9% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional and Country Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
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Market Leaders Profiled |
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Market Segmentation:
The green cement market is expected to be dominated by fly ash type based on the product type, and this growth trend is expected to continue throughout the forecasted period. This is due to the pozzolanic properties of fly ash, favorable government policies, and investment in sustainable infrastructure development. Additionally, there is a growing demand for alternative fuels, which is driving green cement market demand for fly ash as it aids in the recycling of waste and renewable resources while preventing the excess release of carbon dioxide by the OPC. The construction industry in developing countries is also benefiting from the easy availability of raw materials such as fly ash, which is cost-effective and further boosting its usage.
Residential
Non-Residential
The residential segment dominates the green cement market. The global white cement market is heavily relied upon by the residential sector. The market is expected to grow due to the increase in disposable income of the middle class, which has led to the construction of new residential buildings. The demand for the green cement market in the residential sector has also been growing due to the rise in building codes and policies mandating energy-efficient structures. In Canada, various government projects, such as the Affordable Housing Initiative, New Building Canada Plan, and Made in Canada, are set to support the expansion of the residential sector, which will increase the use of green cement. The end users of green cement in the residential sector have been the most prosperous due to its wide usage in construction. The green cement market in the residential sector is expected to grow also due to the rising number of applications. Governments in both established and developing countries are improving the condition of roads, motorways, and flyovers with the use of green cement. The industrial sector is also experiencing a fair amount of demand for green cement because it can improve workability, reduce the permeability of water and chemicals, and protect infrastructure from acid attacks.
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
During the forecast period, the North American region is expected to experience the greatest growth in the global green cement market. This is due to the implementation of the National Emission Standards for Hazardous Air Pollutants for the Portland cement manufacturing industry. The Environmental Protection Agency (EPA) regulates the standards of performance for Portland cement plants across the region. Cement plants in the state are required to report their greenhouse gas emissions and comply with all regulations. To meet these regulations, manufacturers in North America are heavily investing in the production of green cement, which helps to reduce the carbon footprint of cement production. On the other hand, Asia Pacific is expected to show significant growth in the green cement market.
Frequently Asked Questions
The green cement market size reached US$ 31.1 Billion in 2022 and is expected to reach US$ 63.3 Billion by 2028.
LafargeHolcim Ltd., HeidelbergCement AG, CEMEX S.A.B. de C.V., CRH plc, Taiheiyo Cement Corporation, China National Building Material Company Limited, etc.
North America dominates the green cement market.
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