Major players in the green cement industry have focused on business expansion and product launch strategies to gain the maximum share in the market. This further results in consolidation of the green cement market.
WILMINGTON, Del., Aug. 23, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Green Cement Market by Type (Fly-ash Based, Slag Based, Recycled Aggregates and Others), End User (Residential, Commercial and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032”. According to the report, the green cement market was valued at $36.1 billion in 2023, and is estimated to reach $86.2 billion by 2032, growing at a CAGR of 10.2% from 2024 to 2032.
Prime determinants of growth
Increasingly stringent environmental regulations aimed at reducing carbon emissions and promoting sustainable construction practices are major drivers of the green cement market. Governments and regulatory bodies worldwide are implementing policies to encourage the use of eco-friendly building materials, including green cement, leading to increased adoption and market expansion.
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Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2024–2032 |
|
Base Year |
2023 |
|
Market Size in 2023 |
$36.1 billion |
|
Market Size in 2032 |
$86.2 billion |
|
CAGR |
10.2 % |
|
No. of Pages in Report |
197 |
|
Segments covered |
Type, End-User, and Region. |
|
Drivers |
Rapid infrastructure development Growth in government initiatives and incentives |
|
Opportunities |
Technological Advancements |
|
Restraints |
Volatile price of raw materials |
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic had a negative impact on the green cement market, owing to the temporary closure of manufacturing firms during the lockdown.
- Not only the production but also the sale of green cement was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic.
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The fly-ash based segment dominated the global market share, in terms of revenue
Based on type, the market is divided into fly-ash based, slag based, recycled aggregates, and others. The fly-ash based segment accounted for a higher market share in 2023. Rapid infrastructure development in emerging markets create new opportunities for manufacturers. The demand for green cement is particularly high in regions with significant construction activity, such as LAMEA, and Asia-Pacific.
The commercial segment dominated the market in 2023
Based on end user, the market is segregated into residential, commercial, and others.The commercial is the leading segment that dominated the global market share in 2023. There is a growing emphasis on sustainability in commercial real estate, with businesses and developers increasingly prioritizing eco-friendly construction practices. Green cement, which produces lower carbon emissions and utilizes sustainable materials, aligns with these sustainability goals and is therefore widely adopted in commercial projects.
The Asia-Pacific region dominated the market share in terms of revenue in 2023
The green cement market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. In 2023, Asia-Pacific accounted for largest market share, and it is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the green cement industry in the Asia-Pacific region. Governments in Asia-Pacific region are providing various incentives to promote sustainable construction practices, including tax breaks, subsidies, and grants for using green building materials. These incentives make green cement more attractive for commercial developers looking to reduce construction costs and benefit from financial support.
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Leading Market Players: –
- LafargeHolcim
- Heidelberg Cement AG
- Anhui Conch Cement
- CEMEX S.A.B. de C.V.
- Taiheiyo Cement Corporation
- China National Building Material
- Votorantim cimentos S.A.
- UltraTech Cement Ltd.
- Taiwan Cement Corporation
- ACC Limited
The report provides a detailed analysis of these key players in the green cement market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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