The growth of the market is driven by the growing construction activities in Asia – Pacific and stringent environmental regulations.
Market Size – USD 21.42 Billion in 2018, Market Growth – CAGR of 8.7%, Market Trends – Growing construction in Asia-Pacific and stringent environmental regulations are boosting the demand for the market.
NEW YORK, April 29, 2019 (GLOBE NEWSWIRE) — The Green Cement Market is forecasted to grow from USD 21.42 Billion in 2018 to USD 43.59 Billion by 2026, at a CAGR of 8.7%, during the forecast period. The market is primarily driven by the growing construction activities in emerging economies, increased use of alternative fuels from renewable & waste materials and increased efforts to reduce carbon emissions.
The green cement market is highly fragmented in nature with different players involved in production and distribution. Green cement is an environmentally friendly replacement for the Portland cement.
Green cement is in its introduction stage as several companies are still carrying out research and development activities to improve the properties and capabilities of the product. Due to strict environmental regulations, government initiatives to improve tax conditions and subsidies for the production of green materials, demand is expected to rise further over the forecast period.
Due to the emergence of Limestone Calcinated Clay Cement (LC3) and Frerrocrete technologies to improve the effectiveness of green cement, the green cement market is expected to witness rapid technological developments over the forecast period.
As alternative fuels derived from waste materials such as solid recovered fuels, foundry sand, animal meals, used oil, filter cakes, sewage sludge, and fly ashes are increasing, demand for green cement is also increasing. The main factor that boosts this market’s growth is the growing need to reduce carbon emissions and use clean and green fuel. The global green cement market is also supported by governments around the globe in promoting sustainable building and green architecture, which is certified as a leader in energy and environmental design (LEED).
Further key findings from the report suggest
The Green Cement Market is forecasted to grow from USD 21.42 Billion in 2018 to USD 43.59 Billion by 2026, at a CAGR of 8.7%, during the forecast period. The market is primarily driven by the growing construction activities in emerging economies, increased use of alternative fuels from renewable & waste materials and increased efforts to reduce carbon emissions.
- The market for fly ash based segment is expected to grow the largest at USD 14.39 Billion in 2026, at a CAGR of 9.6% during the forecast period. The fly ash market has grown as a result of growth in the construction industry, increasing focus on infrastructure and road paving, legal problems related to dumping fly ash, fly ash promotion by governments of different countries, and increasing focus on the use of environmentally friendly products.
- The market for residential segment is expected to grow the largest at USD 20.49 Billion in 2026, at a CAGR of 9.3% during the forecast period. Growing urbanization in emerging economies like India and China is expected to drive growth in this segment over the forecast period with a growing need for environmentally safe buildings. Furthermore, green roof growth due to eco-friendly materials from different manufacturers is also expected to fuel market growth over the forecast period.
- The market for North America is expected to reach USD 15.69 Billion in 2026, at a CAGR of 9.1% during the forecast period. Indeed, the global market is highly concentrated and North America is home to a majority of key players. To further enhance regional demand, increased stringency of regulatory frameworks is anticipated. However, due to the presence of a mature construction industry, the rate of penetration in North America is low. High carbon emissions have resulted in the development of strict regulations prescribed by intergovernmental and regional agencies to address environmental degradation.
- The major players in the market are Anhui Conch Cement Company (China), CEMEX S.A.B. de C.V. (Mexico), China National Building Material Co., Ltd. (China), Italcementi (Italy), LafargeHolcim Ltd (Switzerland), CeraTech (India), Calera Corp. (USA), Kiran Global Chems Limited (India), HeidelbergCement (Germany), Navrattan Blue Crete Industries Pvt. Ltd. (India) and others.
Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, application, end-user and regional analysis.
Taken from: YAHOO Finances