Global Green Cement Market - Overview
Market Research Future (MRFR) projects the global green cement market to rise at a strong 16% CAGR over the forecast period, according to a new research report. The global green cement market is analyzed in detail in the report, which provides information on the market’s historical growth trajectory and leading segments and key players in the market.
Green cement is cement produced from waste materials such as recycled concrete, slag, burnt clay, power plant waste, and mining and quarrying waste. The global green cement market is mainly driven by the growing awareness about the environmental benefits of producing cement from waste materials. Very little environmental resources are consumed in the production of green cement, which also reduces the use of water drastically. Due to the use of recycled/waste materials in the production of green cement, very little carbon dioxide is emitted in the production of green cement, which makes the process much more environmentally viable than the regular production process of cement.
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Global Green Cement Market – Prominent Players
HeidelbergCement AG (Germany),LafargeHolcim Ltd. (Switzerland),Taiheiyo Cement Corporation (Japan),Taiwan Cement Corporation (Taiwan),Ecocem Ireland Ltd. (Ireland),ACC Limited (India) ,UltraTech Cement Ltd (India) ,Calera Corporation (U.S.),Ceratech, Inc (U.S.) ,Solidia Technologies, Inc. (U.S.) , Cenin Cement (U.K.). are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Green Cement Market.
Market Dynamics -
The rising prevalence of the environmental mindset is likely to be a major driver for the global green cement market over the forecast period, as green cement doesn’t provide any performance benefits over conventional cement. Growing government support to environmentally viable solutions is likely to be a major driver for the global Green Cement Industry, along with the growing construction industry, which is likely to present the global green cement market with a consistent demand channel over the forecast period.
On the other hand, the lack of awareness about green cement and its benefits in terms of environmentalism is likely to be a major restraint against the global green cement market over the forecast period.
In addition, both developed and developing economies are experiencing substantial growth in construction and retrofitting activities, which is expected to have a positive impact on the Green Cement Market. Strict building codes in developed countries, reduction of greenhouse gas emissions, cost efficiency, a strict regulatory environment, rebates and tax credits, and increased demand for new construction are some of the factors that are expected during the forecast period to drive the growth of the market for Green Cement. However, the growth of the global Green Cement Market may be hampered by factors such as slow construction sector growth and a lack of awareness of insulating materials.
The growth of the Green Cement Industry has been negatively impacted by the recent global outbreak of COVID-19. Lockdowns and other restrictions have led to the disruption of numerous construction sector activities, hampering the growth of the market for Green Cement. However, it is expected that the ease of lockdown restrictions, together with the increased emphasis on effective restoration of the construction industry, will support the rapid recovery of the Green Cement Market during the post-lockdown period.
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Green Cement Market - Segments:
The global green cement market, as discussed in the report of MRFR by their experts, has been segmented on the basis of application and product type. Such a close look at the market that reveals several factors and dynamics that can change the market positions are expected to boost the global decisions regarding various strategies.
By product type, the global market for green cement has been segmented into residential, non-residential, and others. The products are in several ways better than the Portland standard, owing to which the intake in the residential and non-residential sectors would gain tailwinds.
By product type, the global report on green cement can be segmented into fly-ash-based, slag-based, geopolymer, and others. The fly-ash-based segment is expecting thrust as the availability of the component is quite easy.
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Green Cement Market - Regional Analysis:
North America would dominate the global market for green cement as the region is getting traction from several production companies and their latest innovations. Constant funding for new research works and promotion of the product is expected to boost the scope for growth. In the US and Canada, stringent regulations are expected to play major roles in taking the market forward.
In Europe, the regional market would gain significant traction from several countries as their adherence to strict environmental laws is commendable. These countries are France, Germany, Spain, Italy, the UK, and others. In Asia Pacific, hike in construction activities in China and India, and better promotion are expected to boost the regional market.
Industry/Innovation/Related News:
In April 2020, Navrattan Group announced that they are about to launch their green cement in the Indian market. This step will help them to cover substantial grounds in the coming years as the rising awareness regarding eco-friendly products are expected to provide tailwinds. The product has no limestone owing to which there is no requirement for the energy-extensive calcination process. The product also uses reusable materials as major components, which boosts its presence as an eco-friendly material.
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