Green Cement Market Outlook:
Green Cement Market is anticipated to expand between 2022 and 2030 at a compound annual growth rate (CAGR) of 12.5%. During the previous projection period of 2018 to 2021, the market grew at a compound annual growth rate (CAGR) of 9.8%.
Green cement is a type of cement made possible by a carbon-negative manufacturing process, an eco-friendly method that lowers the carbon footprint of cement production while simultaneously reducing cement use. Recycled industrial wastes like fly ash and blast furnace slag are the raw materials utilized in it.
Fly-ash-based, slag-based, and recycled aggregates are the three primary forms of green cement. Fly ash-based green cement is a term used to describe a coal combustion by-product.
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Market Growth:
This is projected that growing public awareness of the need to reduce carbon emissions and their harmful effects will propel the growth of the green cement industry. A noticeable trend towards adopting green cement has occurred because of the cement industry’s significant contribution to CO2 emissions and its detrimental effects on human health.
The growth of its use is expected to be aided by rising demand from residential structures worldwide. The market is expected to increase as a result of the growing population, urbanization, and rising residential project construction brought on by rising consumer disposable income. Adoption of the product in the residential sector has been aided by the growing number of building rules and policies that demand energy-efficient structures. Moving forward, the market for green cement is anticipated to rise at a faster rate due to the expanding construction industry. The commercial manufacturing and commerce sector that works with creating, maintaining, and fixing infrastructure is referred to as the construction industry. Because of its eco-friendly qualities, green cement is becoming more and more popular as the construction industry expands and stricter building norms and environmental regulations force greater adherence to these standards.
Market Trends:
The benefits that using green cement has for the environment are expected to propel market expansion during the course of the projection.
Global construction projects are anticipated to drive market growth over the projection period.
One of the main factors driving market expansion during the projection period is the surge in smart city construction, which in turn is driving population movement and following construction activities.
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Market Segmentations:
Based on product type:
- Fly Ash Based
- Slag Based
- Geo polymer
- Others
Based on application type:
- Residential
- Non-residential
- Industrial
- Infrastructure
Market Regional Analysis:
The Asia Pacific region is projected to be the primary driver of market growth during the forecast period. This growth is attributed to the increasing technological advancements in the region, which are expected to fuel market expansion. Similarly, Europe is anticipated to experience substantial growth during this period. Additionally, the US region is expected to witness a significant growth rate in the market.
Leading Key Players:
- CEMEX S.A.B. de C.V.
- Heidelberg Cement AG
- Lafarge Holcim
- Taiheiyo Cement Corporation
- Votorantim pimentos S.A.
- China National Building Material Company Limited (CNBM)
- Taiwan Cement Corporation
- and Evoke Ireland Ltd
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