According to the latest report by IMARC Group, titled “Green Cement Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global green cement market size reached US$ 31.1 Billion in 2022. Green cement, also known as sustainable or eco-friendly cement, is a revolutionary building material that mitigates the environmental impact of traditional cement production. Compared to conventional cement, which heavily relies on energy-intensive processes and contributes significantly to carbon dioxide emissions, green cement is produced using innovative technologies that reduce greenhouse gas emissions and utilize eco-friendly raw materials. It can incorporate industrial by-products, such as slag, fly ash, and silica fume, as partial substitutes for clinker, a primary component in conventional cement production. By doing so, green cement reduces the consumption of non-renewable resources and lowers carbon emissions during manufacturing. The production of green cement aligns with global sustainability goals, making it an increasingly attractive choice for construction projects seeking to adopt eco-conscious practices and reduce their carbon footprint.
Global Green Cement Market Trends:
The global green cement market is experiencing substantial growth, primarily driven by the growing awareness among governments, businesses, and consumers regarding the urgent need to tackle climate change and palliate greenhouse gas (GHG) emissions. Besides this, stringent environmental regulations and emission targets imposed by various countries have propelled the adoption of green cement in construction projects worldwide, creating a favorable market outlook. Moreover, the construction industry's shift towards sustainable practices and green building certifications, such as leadership in energy and environmental design (LEED) and building research establishment environmental assessment methodology (BREEAM), has fueled the demand for eco-friendly construction materials such as green cement. In addition to this, the increasing support from investors, environmental organizations, and sustainability-driven initiatives, such as financial incentives, grants, and subsidies, offered to projects that utilize green cement further encourage its adoption in the construction sector. Concurrently, the rising consumer awareness and preferences for environmentally responsible products have influenced the demand for green cement as end-users seek to make environmentally conscious choices in their living spaces. Furthermore, the integration of advanced technologies in cement production, such as carbon capture and utilization (CCU) and carbon capture and storage (CCS), reducing the carbon footprint of green cement is aiding in market expansion. Looking forward, the market value is projected to reach US$ 63.3 Billion by 2028, expanding at a CAGR of 12.3% during 2023-2028.
- On the basis of the product type, the market has been segregated into fly ash-based, slag-based, limestone-based, silica fume-based, and others.
- Based on the end-use industry, the market is categorized into residential, non-residential, and infrastructure.
- On a regional basis, the market has been segmented into North America, Europe, Asia-Pacific, 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, Fortera 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., ACC Ltd., etc.
|Base Year of the Analysis
||Product Type, End-Use Industry, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||CarbonCure Technologies Inc., CEMEX S.A.B. de C.V., CRH plc, LafargeHolcim Ltd, Fortera 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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