Green Cement Industry Report 2024: Global Market to Reach $89.7 Billion by 2032, Driven by Implementation of Stringent Regulations and Standards

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Mar 19, 2024, 11:45 ET

DUBLIN, March 19, 2024 /PRNewswire/ -- The "Green Cement Market Report by Product Type (Fly Ash-Based, Slag-Based, Limestone-Based, Silica Fume-Based, and Others), End-Use Industry (Residential, Non-Residential, Infrastructure), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The global green cement market size reached US$ 34.9 billion in 2023. The market is projected to reach US$ 89.7 billion by 2032, exhibiting a growth rate (CAGR) of 11.07% during 2023-2032

The increasing environmental regulations and sustainability goals, growing awareness of carbon emissions in traditional cement production, and rising investments in infrastructure development and construction projects are some of the major factors propelling the market.

The escalating awareness of climate change, coupled with the urgent need to reduce carbon footprints that prompted governments, industries, and consumers to seek environmentally responsible construction materials, represents the primary factor driving the market growth. Moreover, the implementation of stringent regulations on carbon emissions in the building sector has accelerated the adoption of green cement solutions, as they offer lower carbon intensity compared to traditional cement.

Apart from this, the increasing demand for sustainable infrastructure and LEED-certified buildings that necessitates the use of construction materials that align with green building standards is propelling the market growth. Furthermore, numerous advancements in research and technology, including the development of innovative cement formulations using alternative materials and energy-efficient manufacturing processes, are contributing to market growth. Along with this, the rising collaborations between governments, private sectors, and academia that facilitates the creation of supportive frameworks and funding mechanisms, is another major growth-inducing factor.

North America held the biggest share in the market due to its combination of regulatory support, growing sustainability consciousness, and robust construction industry. Stringent environmental regulations and government initiatives that prioritize reduced carbon emissions and sustainable building practices incentivize the adoption of green cement. The heightening environmental awareness in the region and the rising demand for LEED-certified buildings drives the preference for eco-friendly construction materials.

Additionally, the significant growth in the construction sector across the region provides ample opportunities for integrating green cement in various projects. Furthermore, rising collaborations between industry stakeholders and research institutions in North America are fostering innovation in green cement technologies, contributing to its market growth. The region's commitment to sustainable practices and the pursuit of environmentally responsible infrastructure has accelerated the adoption of green cement, thereby propelling market growth.

Key players in the market are driving innovation through cutting-edge technologies and novel approaches. These innovations encompass the utilization of carbon capture and utilization (CCU) techniques to incorporate captured carbon dioxide into cement production, thereby reducing emissions and enhancing the environmental profile of cement. Additionally, the exploration of novel binders, such as geopolymers and alkali-activated materials, is gaining traction, offering cement alternatives with reduced clinker content and improved sustainability.

The integration of artificial intelligence (AI) and data analytics in the production process is optimizing resource utilization and minimizing waste. These advancements underscore the commitment of these industry players to propel the green cement market forward, aligning with sustainability goals and responding to the augmenting demand for environmentally friendly construction materials.

Green Cement Market Trends/Drivers

Rising emphasis on environmental sustainability

The increasing global emphasis on environmental sustainability and the urgent need to curb carbon emissions have positioned green cement as a pivotal solution in the construction industry. As governments, industries, and individuals across the globe strive to mitigate climate change, the demand for construction materials with lower carbon footprints has grown significantly.

Green cement addresses this imperative by utilizing innovative manufacturing processes and alternative materials that reduce the carbon intensity associated with traditional cement production, thereby accelerating its adoption rate. This alignment with sustainability goals appeals to environmentally conscious consumers and positions green cement as a key player in promoting greener construction practices.

Implementation of stringent regulations and standards

The stringent environmental regulations and green building certifications enforced worldwide have reshaped the global construction landscape, compelling industry stakeholders to embrace green cement as a means of compliance. With governments implementing stricter carbon reduction targets and building codes emphasizing sustainability, green cement's lower carbon footprint and reduced environmental impact offer a compelling solution.

Construction projects seeking LEED, BREEAM, or other green certifications are increasingly turning to green cement to meet the criteria for sustainable building materials. This supportive regulatory environment has created a strong market driver for green cement, prompting manufacturers and suppliers to adapt and innovate to cater to the evolving demands of a more environmentally conscious construction sector.

Rapid technological advancements

Continuous advancements of materials science and cement production technologies have revolutionized the green cement landscape. Researchers and engineers are actively exploring innovative ways to substitute traditional cement clinker with supplementary cementitious materials, industrial by-products, and alternative binders that require lower energy inputs and emit fewer greenhouse gases during manufacturing.

These technological breakthroughs have led to the development of green cement formulations that offer comparable or improved performance characteristics while reducing carbon emissions, thereby accelerating the product adoption rate. This progress addresses environmental concerns as well as appeals to construction professionals and project owners seeking efficient and sustainable building solutions.

Key Questions Answered in This Report

What was the size of the global green cement market in 2023?
What is the expected growth rate of the global green cement market during 2024-2032?
What are the key factors driving the global green cement market?
What has been the impact of COVID-19 on the global green cement market?
What is the breakup of the global green cement market based on the product type?
What is the breakup of the global green cement market based on the end-use industry?
What are the key regions in the global green cement market?
Who are the key players/companies in the global green cement market?

Competition Analysis

CarbonCure Technologies Inc.
CEMEX S.A.B. de C.V.
CRH plc
LafargeHolcim Ltd.
Fortera Corporation
Heidelberg Cement AG
Siam Cement Public Company (SCG)
Kiran Global Chem Limited
CeraTech
Taiheiyo Cement Corporation
Anhui Conch Cement Company Limited
Votorantim Cimentos S.A.
UltraTech Cement Ltd.
ACC Ltd.

Green Cement Industry Segmentation:

Breakup by Product Type:

Fly Ash-Based
Slag-Based
Limestone-Based
Silica Fume-Based
Others

Breakup by End-Use Industry:

Residential
Non-Residential
Infrastructure

Breakup by Region:

North America
Europe
Asia-Pacific
Middle East and Africa
Latin America

For more information about this report visit https://www.researchandmarkets.com/r/d9ykyk

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