The global cement industry faces a number of challenges such as scarcity of raw materials, depleting fossil fuel reserves, ever-increasing demand for cement and concrete, and growing environmental concerns associated to climate change with increased emission of carbon dioxide during cement production.
Green cement addresses these issues efficiently. Manufacturing of green cement relies on technological advances that include novel cement formulations and energy-efficient low carbon production methods. These factors have augmented the growth of the global green cement market.
The increasing awareness about green buildings in the construction sector has also fuelled the demand for green cement.
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The Global Green Cement Market is anticipated to reach USD$ 21.64 billion by 2020, expanding at a CAGR of 14.95% between 2016 and 2020. Production of cement contributes around 10% of overall carbon dioxide emissions. Green cement or low-carbon cement holds the potential to reduce the carbon footprint of construction sites by 40%.
The commercial sector will be the fastest growing market and is expected to witness volume growth at a CAGR of 7.6% from 2016 to 2024 as a result of its increasing application in commercial establishments such as office spaces, shopping malls, theaters, and hospitals. Furthermore, superior properties including greater resistance to extreme weather conditions, compressive strength and short setting time are expected to stimulate industry growth.
North America market was valued at USD 6.78 billion in 2015 and will show significant rise owing to stringent regulations of the Environmental Protection Agency (EPA) and increasing consumer demand for the clean source of energy. Strict rules by regional agencies on account of the rising concerns over climate change will propel product consumption over the forecast period.
The rapid growth of the construction sector across Asia Pacific, especially in countries such as India and China has boosted the demand for cement. Various environmental regulations implemented by governments in these regions have stressed on the usage of green cement, thereby augmenting the growth of the overall green cement market. In the Middle East and Africa, development of new multifamily housing projects will contribute towards the global demand for green cement.
Green Cement Report by Material, and Geography – Global Forecast to 2023 is a professional and comprehensive research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).
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The report firstly introduced the Green Cement basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.
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