According to the latest report by IMARC Group, titled “Green Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global green cement market size has witnessed steady growth over the past few years. Cement is an essential raw material that is widely used in the construction industry and represents one of the most traded commodities across the globe. However, its manufacturing is a leading source of greenhouse gas emissions with every ton of ordinary Portland cement (OPC) resulting in the production of a similar amount of carbon dioxide (CO2). With growing concerns about climate change and environmental pollution, along with challenges such as depleting levels of raw materials and rising fuel prices, numerous players in the cement industry are developing sustainable, green cement varieties. To minimize the negative ecological impact of the production process, they either employ novel carbon negative processes or utilize industrial waste materials like blast furnace slag, micro silica or fly ash.
Global Green Cement Market Trends:
One of the significant factors that are driving the demand for green cement is the growing demand for sustainable building materials worldwide. With the increasing focus on ecological issues, governments of various nations are levying green taxes and introducing stringent environmental regulations to encourage the utilization of green cement in the construction industry. Moreover, some classes of green cement offer superior features as compared to OPC, such as better workability, excellent thermal and fire resistance and improved flexural strength. Their production also provides innovative solutions for waste management and the use of unconventional materials. For instance, market players are employing recycled materials, locally available minerals, as well as domestic, agricultural and industrial wastes for producing green cement. They are also investing in the development of advanced technologies that are more energy-efficient, and improved product variants such as ultra-high strength concrete with enhanced performance. Looking forward, the market value is projected to expand at a CAGR of 9% during 2019-2024.
- Based on the product type, slag-based cement represents the most preferred product. Other major types include fly ash-based, limestone-based and silica fume-based green cement.
- On the basis of the end use industry, the market has been segmented into the residential, non-residential and infrastructure sectors. At present, the residential sector dominates the market, accounting for the majority of the global market share.
- Region-wise, North America enjoys the leading position in the market. Other major regions are Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being CarbonCure Technologies Inc., CEMEX S.A.B. de C.V., CRH plc, LafargeHolcim Ltd, Calera Corporation, HeidelbergCement AG, Siam Cement Public Company (SCG), Kiran Global Chem Limited, CeraTech, Taiheiyo Cement Corporation, Anhui Conch Cement Company Limited, Votorantim Cimentos S.A., UltraTech Cement Ltd. and ACC Ltd.
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