Global Green Cement Market – Segmented by Product Type, End User Industry and Region - Growth, Trends and Forecast (2018 - 2023)
The green cement market is expected to register a CAGR of approximately 15.1% during the forecasted period, 2018-2023. Green cement is cementitious material made from the industrial waste, which can reduce carbon footprint of construction activities by 40% to 50%. The market is driven by many factors, such as growing concerns over GHG emissions combined with easy availability of raw materials.
Growing Concern over GHG Emissions is Driving the Market
The cement industry contributes more than 5% of global carbon dioxide emissions. The majority of the emissions are the resultant of decarbonation of limestone and the energy required to heat materials in a rotating kiln where temperatures exceeding 2,600 degrees Fahrenheit. Thus, in response to this, Portland Cement Association members are focusing on reducing CO2 emissions to 10% by 2020. As a result, the cement industry has been focusing on manufacturing superior product, such as green cement, while improving energy efficiency and minimizing emissions.
“Fly Ash” the Fastest Growing Segment
Based on product type, fly ash is expected to show a good growth rate because of abundance availability from thermal plants combined with the government regulations towards better utilization rather than dumping in open lands is expected to provide opportunities for green cement market. Government of India has launched app for better management of fly ash from thermal plants.
North America and Europe Dominant Regions
North America and Europe are the dominant regions in the market. With the increasing demand for sustainable products and enactment of stringent carbon emission regulations, emphasis on developing zero waste regions is increasing. Additionally, in North America, owing to stringent regulations of the US Environmental Protection Agency (EPA) regarding GHG emissions and accelerating consumer demand for clean energy source.
Furthermore, Asia Pacific is a gradually becoming a potential market due to growing construction industry and activities in the region, especially in developing economies, such as India, and Indonesia.
August 2017: Sunrise Resources Plc is planning to set a new foundation at its CS Pozzolan-Perlite Project in Nevada
January 2016: Kiran Global Chems Ltd, a part of M S Jain Group, launched an environment-friendly green cement, branded Geocement, using patented technology
Major Players: BASF, Chevron Phillips Chemical Company, Citgo, ExxonMobil Corporation, Huntsman Corporation, Cepsa, Shchekinoazot, Reliance Industries Limited, Idemitsu Kosan Co.,Ltd., and PTT Global Chemical Public Company Limited, amongst others.
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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