The global green concrete market size is expected to grow at a significant CAGR of 9.45% along with the green concrete market value of USD 44.65 billion during the forecast period 2021-2028.
Green concrete is manufactured with materials that can be used as partial or full replacements for concrete coarse aggregates. This concrete is also known as geopolymer concrete or recycled concrete. It has various superior characteristics like fire-resistant, excellent corrosion resistance, enduring high temperature, and has mind-blowing solar reflection. The replacing materials for the typical concrete products are leftover in the production.
Meanwhile, green concrete can reduce greenhouse gas emissions and also reduce the usage of natural resources in the building industry like shale, clay, natural river sand, limestone, and natural rocks. To make it more environment-friendly, this concrete uses less energy for production and generates less carbon dioxide compared to traditional cement. During the manufacturing process, the green concrete emits significantly less carbon dioxide compared to the manufacture of traditional cement. Moreover, there is a reduction of water usage to approximately 20% in the usage of green cement. The World Green Building Council report states that the construction projects have grown significantly from the few years worldwide and it is expected that the demand for green buildings is to be grown in the next three years.
The COVID-19 outbreak has negatively impacted almost all the business sectors worldwide. This pandemic not only affects the people physically but also affects financially and mentally by impacting their businesses or shut down of their offices. The coronavirus has spread from one country to another by moving people from one place to another. So, the government of the countries worldwide decided to impose the lockdown, and few stringent regulations to control the spread of the virus.
Due to the lockdown, various manufacturing industries are shut down due to lack of workers, shortage of raw materials, and supply chain disruptions. The green concrete industry is also drastically impacted by the pandemic and stops production for a period of time. Moreover, the construction activities are halted due to lockdown and maintain social distance regulations, the demand for the green concrete market has reduced. Further, reducing corona cases leads to lifting the lockdown, and present the constructions are going on a huge number. Hence the demand for green concrete also enhances during the assessment period.
The prominent key players in the green concrete market outlook are the following:
The growing adoption of green buildings concepts coupled with its easy availability of raw materials is one of the major driving factors for the green concrete market growth in the review period. Due to industrial development, the demand for buildings, roads, water retention structures, tunnels, and bridges is bolstering the market growth worldwide. Growing concerns about the environment’s long-term sustainability, resilience, and preservation are expected to propel the market growth of green concrete. Most of the firms switching to eco-friendly concrete instead of traditional concrete will grow the green concrete industry. Apart, the increasing demand for cost-effective solutions and sustainable building materials in the construction industry is accelerating the market growth.
Moreover, the increasing urban population in various cities and surrounding areas are enhancing the requirement of infrastructure for supporting the high demand for power, food, and water which further boosts the market growth. An increasing number of energy-efficient construction projects globally are escalating the recycled concrete market growth. The rising need for environmental sustainability and protection is fostering the market growth. The rise in changing lifestyle of the manufacturers toward eco-sustainable alternatives to conventional synthetic concrete is enhancing the market.
Fluctuating crude oil prices may limit the growth of the market. Dwindling petroleum reserves and scarcity of raw materials are restraining the market growth. The cost of green concrete is relatively expensive compared to existing conventional materials and consumers are more attracted to the low-priced alternatives that are restraining the growth of the market.
The rapidly advanced technologies and growing R & D activities are creating an opportunity to bolster the expansion of the green concrete industry.
Lack of awareness regarding the benefits of the green concrete market among the people is the major challenge to the global market. Moreover, the International Energy Agency’s (IEA) implemented strict carbon emission standards that are impacted indirectly on the green concrete is limiting the growth of the market. Ones composed of various forms of green concrete have a very short life span compared to conventional concrete is one of the major challenges to the market growth.
The global green concrete market has been divided into three segments based on application, design, and region.
The green concrete market based on applications is classified into a few types as commercial, residential, infrastructure, and others. Among them, the residential construction industry is dominating the market share for its demand for cost-effective and environmentally friendly construction solutions.
The green concrete market by designs is trifurcated into plain cement concrete, reinforced cement concrete, and pre-stressed cement concrete.
Region-wise, the global green concrete market is divided into five main geographies such as Europe, Asia-Pacific, North America, South America, and the Middle East & Africa. Among them, Europe is dominating the largest market share due to the favorable government policies and stringent regulations related to environmental protection.
Geographically, the green concrete market based on region is segmented into five major regions like Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. Owing to the stringent regulations related to environmental protection and favorable government policies, Europe is holding the highest green concrete market share. Growing awareness regarding the benefits of the green concepts may increase its adoption in developing countries in the review period. Increasing application of green concrete as the building raw material is propelling the market growth in this region. Moreover, the initiatives have been taken by the European Union to promote the application of recycled products as construction materials.
North America is holding the second-largest market share. Due to the rapid urbanization and industrialization in emerging nations, Asia-Pacific is predicted to witness significant growth in the assessment period. Emerging countries like India and China are witnessing rapid growth in construction activities and increasing government investments towards various infrastructural projects are boosting the market growth in this region. The presence of a huge population and increasing living standards are the factors driving the market growth. Rising awareness regarding the advantages of green cement and its easy availability is enhancing the growth of the market.
December 2023: The European Union adopts new CO2 emissions limits for cement: The EU adopted new regulations that will require cement producers to reduce their CO2 emissions by 25% by 2030 and 60% by 2050. This is expected to drive further development and adoption of green concrete technologies
The green concrete sector will expand as more companies choose eco-friendly concrete over conventional concrete, allowing the construction industry to become greener.
Aggregate Industries has announced the introduction of London's first electric-powered concrete mixer as part of its ongoing efforts to assist the construction sector in becoming more environmentally friendly. The cutting-edge 26-tonne electric concrete mixer will assist the company's busy London Concrete division by providing necessary ready-mix concrete ingredients around the Capital. The specially constructed Renault Trucks vehicle, which is anticipated to be put into immediate service, will be the first of its kind to operate in London and the second operational electric mixer truck in the UK.
Aggregate Industries, Renault Trucks, and McPhee Mixers, a unit of TVS Interfleet based in Motherwell, Scotland, which constructed the electric mixer, collaborated to bring the product to market. Aggregate Industries' shift to a sustainable future is currently being carried out with the introduction of the truck. It will be used to deliver Aggregate Industries' cutting-edge ECOPact range of green concrete solutions, which offers up to 70% carbon reductions compared to standard (CEM I) concrete, and Dynamax, a high-performance concrete that enables eco-balance through reduced material requirement, for the very best in green concrete supply.
This most recent initiative is part of Aggregate Industries' ambitious 2030 Sustainability and Net Zero Strategies, which established a number of lofty objectives to hasten the company's transition to net zero and pave the way for the future sustainability of the construction industry. The company has committed to converting its 2,000-strong fleet of company cars and vans to electric vehicles (EV) by 2030 as part of this.
Commercial applications of green concrete have become extensive in recent years. One of the main reasons for the escalating demand for green concrete in commercial applications is the escalating infrastructure development. Construction is booming in many South Asian nations, including Thailand, China, India, and Vietnam. Thus, most businesses in the market today commonly produce green concrete for commercial purposes.
An up-and-coming startup called CarbonBuilt has confirmed the commercial manufacturing of their low-carbon green concrete has started at a facility in the city of Childersburg. The thick grey blocks are being produced by Blair Block, a local maker of masonry products, using CarbonBuilt's innovative technique, which the start-up claims may reduce overall carbon dioxide emissions from the production of concrete by 70 to 100%.
A rapidly expanding set of businesses and research organizations, including CarbonBuilt, are attempting to address Portland cement, the most carbon-intensive step in the production of concrete. Although the limestone and clay fusion are a crucial component, heating it causes it to release a significant amount of carbon dioxide.
| Report Attribute/Metric | Details |
| Market Size | 2028: USD 44.65 Billion |
| CAGR | 9.45% CAGR (2021-2028) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-Use, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Dow Chemical Company (US), Eco Green Co. (China), CICO Technologies Ltd. (India), CeraTech Inc (US), Chryso SAS (France), Pidilite Industries (India), Cemex C.B. (Mexico), Rpm International Inc. (US), Maipei Ltd (US), and BASF (Germany) |
| Key Market Opportunities | Increase in the number of initiatives taken by various organizations Increasing awareness about the benefits of green concepts |
| Key Market Drivers | Growing urban population in various cities and surrounding areas Rise in urbanization and the growing adoption of sustainable products are projected |
Green Concrete Market Highlights:
Frequently Asked Questions (FAQ) :
Global green concrete market is projected to grow at approximately 9.45% CAGR during the assessment period (2021-2028).
Global green concrete market had created a valuation of around USD 20 BN in 2018.
Commercial is the largest end-user segment in the global green concrete market.
Europe holds the largest sharein the global green concrete market, followed by North Americaand theAsia Pacific, respectively.
CeraTechInc (US), BASF (Germany), Eco Green Co. (China), Rpm International Inc. (US), Chryso SAS (France), CICO Technologies Ltd. (India), Cemex C.B. (Mexico), Pidilite Industries (India), Maipei Ltd (US), and The Dow Chemical Company (US), are some of the top players operating in the global green concrete market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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