Major players in the green cement industry have focused on
business expansion and product launch strategies to gain the
maximum share in the market. This further results in consolidation
of the green cement market.
WILMINGTON, Del., Aug. 23,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "Green Cement Market by Type (Fly-ash Based,
Slag Based, Recycled Aggregates and Others), End User (Residential,
Commercial and Others): Global Opportunity Analysis and Industry
Forecast, 2024-2032". According to the report, the green cement
market was valued at $36.1
billion in 2023, and is estimated to reach $86.2 billion by 2032, growing at a CAGR of 10.2%
from 2024 to 2032.
Prime determinants of growth
Increasingly stringent environmental regulations aimed at
reducing carbon emissions and promoting sustainable construction
practices are major drivers of the green cement market. Governments
and regulatory bodies worldwide are implementing policies to
encourage the use of eco-friendly building materials, including
green cement, leading to increased adoption and market
expansion.
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Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2032
|
Base Year
|
2023
|
Market Size in
2023
|
$36.1
billion
|
Market Size in
2032
|
$86.2
billion
|
CAGR
|
10.2 %
|
No. of Pages in
Report
|
197
|
Segments
covered
|
Type, End-User, and
Region.
|
Drivers
|
Rapid infrastructure
development
Growth in government
initiatives and incentives
|
Opportunities
|
Technological
Advancements
|
Restraints
|
Volatile price of raw
materials
|
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic had a negative impact on
the green cement market, owing to the temporary closure of
manufacturing firms during the lockdown.
- Not only the production but also the sale of green cement was
hampered due to the closure of manufacturing factories across the
world, especially in the initial period of the pandemic.
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Tables, Figures) :
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The fly-ash based segment dominated the global market share,
in terms of revenue
Based on type, the market is divided into fly-ash based, slag
based, recycled aggregates, and others. The fly-ash based segment
accounted for a higher market share in 2023. Rapid infrastructure
development in emerging markets create new opportunities for
manufacturers. The demand for green cement is particularly high in
regions with significant construction activity, such as LAMEA, and
Asia-Pacific.
The commercial segment dominated the market in 2023
Based on end user, the market is segregated into residential,
commercial, and others.The commercial is the leading segment that
dominated the global market share in 2023. There is a growing
emphasis on sustainability in commercial real estate, with
businesses and developers increasingly prioritizing eco-friendly
construction practices. Green cement, which produces lower carbon
emissions and utilizes sustainable materials, aligns with these
sustainability goals and is therefore widely adopted in commercial
projects.
The Asia-Pacific
region dominated the market share in terms of revenue in
2023
The green cement market is analyzed across North America, Europe, Asia-Pacific, Latin
America, and MEA. In 2023, Asia-Pacific accounted for largest market
share, and it is expected to grow at a significant CAGR throughout
the forecast period. China holds
the maximum share in the green cement industry in the Asia-Pacific region. Governments in
Asia-Pacific region are providing
various incentives to promote sustainable construction practices,
including tax breaks, subsidies, and grants for using green
building materials. These incentives make green cement more
attractive for commercial developers looking to reduce construction
costs and benefit from financial support.
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Leading Market Players: -
- LafargeHolcim
- Heidelberg Cement AG
- Anhui Conch Cement
- CEMEX S.A.B. de C.V.
- Taiheiyo Cement Corporation
- China National Building Material
- Votorantim cimentos S.A.
- UltraTech Cement Ltd.
- Taiwan Cement Corporation
- ACC Limited
The report provides a detailed analysis of these key players in
the green cement market. These players have adopted different
strategies such as new product launches, expansion, and
acquisitions to increase their market share and maintain dominant
shares in different regions. The report is valuable in highlighting
business performance, operating segments, product portfolio, and
strategic moves of market players to showcase the competitive
scenario.
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