Green Cement Market size is forecast to reach $43.52 billion by 2025, after growing at a CAGR of 8.50% during 2020-2025. Cements used in construction are usually inorganic, often lime or calcium silicate based. Green cement belongs to the category of cement that has the functional properties of the standard cement but do not cause any harmful effect on the environment. The product is manufactured using waste materials such as recycled concrete, slag, power plant wastes and quarrying and mining wastes. The eco-friendly nature of green cement is influencing various end users to adopt, thereby, increasing the green cement market growth during the forecast period.
By Product Type – Segment Analysis
Fly-ash based segment held a significant share in green cement market in 2019. Fly ash is finely divided residue resulting from the combustion of powdered coal and transported by flue and noxious gases and collected by electrostatic precipitation. Fly ash is most used pozzolanic material all over the world. According to World Bank, the volume of fly ash produced is about 75 million tons per year. Fly ash improves both fresh concrete and hardened concrete properties of hydraulic cement concrete.
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By End-user Industry – Segment Analysis
Residential segment held a significant share in green cement market in 2019 growing at a CAGR of 8.90% during the forecast period. Rising number of building codes and policies mandating energy-efficient structures have led to the growth of green cement in the residential sector. With increasing demand for sustainable products and enactment of stringent carbon emission regulations, emphasis on developing zero waste regions is increasing. Consumption of the product in industrial constructions is expected to increase owing to its properties like to stabilize, solidify and encapsulate radioactive & metallic wastes.
Geography- Segment Analysis
North America dominated the green cement market with a share of more than 43.7%, followed by APAC and Europe. The demand for new homes in the United States has been increasing consistently, since the past few years, owing to the growing population and rising consumer incomes in the country. With growing trend of multi-family building, and rise in migration to cities, the US Census Bureau has been providing more permits for the construction of new residential buildings.
Reduction in the average household sizes has also been a driving factor for the growth of new home constructions in the United States, with single-family housings growing at a rapid rate. Moreover, the aforementioned factors, along with growing focus on green buildings, are providing opportunities for the green cement used in the construction sector at a high rate, during the forecast period.
Drivers – Green Cement Market
Rising attention towards carbon gas emissions
Green cement is gaining high demand to replace porcelain cement owing to the environmental friendly properties associated with it. Rising attention towards carbon gas emission and its impact on the environment is expected to augment the green cement market during the forecast period. In addition, rising adoption of green building concept, which is certified as a Leader in Energy and Environmental Design (LEED) and easy availability of raw materials, is one of the key factors expected to boost industry demand.
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Challenges – Green Cement Market
Structures which are constructed using green concrete have less life than the structures constructed by the conventional concrete. As they have less life span they cannot be used for important structures like bridges, dams etc. For the use in dams and bridges special air-entraining agents are mixed in the concrete which increases the overall cost of the structures. Moreover, split tensile strength of green cement is less due to which more reinforcements are needed, which increases the construction cost of the structure.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the green cement market. Major players in the green cement market are HeidelbergCement AG, LafargeHolcim Ltd., Taiheiyo Cement Corporation, Taiwan Cement Corporation, Ecocem Ireland Ltd., ACC Limited, UltraTech Cement Ltd, Calera Corporation, Ceratech, Inc, Solidia Technologies, Inc. and Cenin Cement among others.
Green cement is an eco-friendly substitute for traditional cement which can reduce carbon di oxide emissions at construction sites by 40%.
Increasing construction activities across globe on account of rising urbanization and population is anticipated to boost green cement market.
Green cement market is expected to witness rapid technological development in near future on account of the emergence of Limestone Calcinated Clay Cement (LC3) and Frerrocrete technologies to advance the effectiveness of green cement.
A. Specialized Cement Market
B. Cement & Cement Additives Market
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