Green Cement Market Analysis, Share, Growth & Forecast [2031]

Report Description

The global green cement market size is expected to expand at a CAGR of 7.1% during the forecast period, 2021–2028. The growth of the market is attributed to governments’ measures favoring green construction and great awareness about greenhouse gases (GHG) emissions from cement production.

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Green cement is a type of material manufactured from waste resources such as reclaimed concrete, slag, mining wastes and quarrying, and power plant wastes released from various industries. Cement is a powerful binding and adhesive substance with a large carbon footprint, which represents an essential component of the building and construction sector. Green cement is a more environmentally friendly alternative to standard cement that is made from industrial waste. It is presently employed in the construction of structural columns, bridges, dams, and buildings in numerous countries as part of sustainable architecture initiatives. 

Numerous construction projects and infrastructure development programs have been delayed across the globe due to emergency lockdown and movement restrictions, impacted by the COVID-19 pandemic. The cement sector is experiencing a major transformation as cement manufacturers had to follow the strict government rules of reducing carbon emissions from their factories. At present, the sector accounts for enormous global greenhouse gas emissions and the survival of companies in the market depends upon the capacity to become carbon neutral.

Market Trends, Drivers, Restraints, and Opportunities

• Growing shifting towards environmentally friendly construction materials due to strict government regulation to reduce carbon emission is a key factor driving the market during the forecast period.
• Rising construction and building projects especially in developing countries, impacted by industrialization and urbanization is likely to drive product demand.
• Governments’ subsidies and initiatives to encourage the use of green cement for various infrastructure development are expected to boost the market.
• High cost of the material and lack of a strong global supply chain for raw materials are major challenges that can hinder the market growth in the coming years.
• Expansion of new companies and rising need for infrastructure development such as office spaces, retail malls, theatres, and hospitals are key factors that create lucrative opportunities for the market.

Scope of the Report

The report on the global green cement market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Residential segment to expand at a considerable CAGR

On the basis of construction sectors, the green cement market is bifurcated into non-residential and residential. The residential segment is projected to expand at a considerable CAGR during the forecast period due to rising construction of residential buildings, impacted by the increasing number of the global population.  On the other hand, the non-residential segment is anticipated to account for a major market share in coming years owing to rapid expansion of commercial space and areas including hospitals, hotels, and malls.

Fly Ash-based segment to hold a significant share of the market

In terms of product types, the market is segregated into slag-based, limestone-based, silica fume-based, fly ash-based, and others. The fly ash-based segment is expected to hold a significant share of the market in the coming years as it emits the least quantity of carbon dioxide. However, the slag-based segment projected to account for a significant market share in the coming years due to the higher efficiency of the product and its wide applications in the construction activities.

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North America is anticipated to constitute a key market share

In terms of regions, the green cement market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the rising adoption of green materials for construction and high pressure from non-government organizations. Moreover, strict governments’ regulations towards reducing carbon emission in the region is expected to boost the regional market.  However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to high levels of economic development, increased disposable income, and a growing population that encourage the massive development of infrastructure and construction activities.

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