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Global Green Cement Market Overview
The Green Cement Market Size was valued at USD 32.28 Billion in 2022. The Green Cement industry is projected to grow from USD 37.38 Billion in 2023 to USD 73.10 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.76% during the forecast period (2023 - 2030). The term "green cement" refers to a cementitious material that may be produced utilizing industrial wastes such as slag, burned clay, recycled concrete, waste from power plants, and mines and quarries. The benefits of manufacturing using green cement, such as the low need for natural resources and the use of less water for a building, are the main factors driving the growth of the green cement market. Wastes including used tires, used oils, animal feed, solid recovered fuels, foundry sand, fly ashes, sewage sludge, and filter cakes can be utilized in cement kilns to cut down on cement dioxide emissions.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Green Cement Market Trends
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Low requirement for natural resources
Green cement, also known as sustainable cement, is a type of cement that is produced using environmentally friendly methods and materials. Traditional cement production requires large amounts of natural resources, such as limestone and clay, as well as energy to heat the kiln and process the raw materials. In contrast, green cement can be produced using alternative materials and methods that require less energy and fewer natural resources. For instance, some types of green cement are made using waste materials like fly ash or slag, which are byproducts of industrial processes. Other types of green cement use alternative fuels like biomass or waste heat from other industrial processes. If the demand for green cement increases, manufacturers may be incentivized to invest in developing and scaling up more sustainable production methods. This could lead to a virtuous cycle in which increasing demand for green cement drives innovation and further reduces the environmental impact of cement production. Additionally, governments and consumers may also play a role in driving the growth of green cement. Governments could provide incentives or regulations that encourage the use of sustainable building materials, while consumers may choose to prioritize environmentally friendly products when making purchasing decisions.
Green Cement Market Segment Insights
Green Cement Product Type Insights
The market segmentation, based on Product Type, includes Fly Ash based, Slag based, Geopolymer, and Others. The Fly Ash-based segment may dominate the market. Fly ash is a byproduct of coal combustion and is often used in the production of concrete and cement as a substitute for some cementitious materials. This can reduce the amount of cement required and also divert waste from landfills.
Green Cement Application Insights
Based on Application, the market segmentation includes Residential and Non-Residential. The Non-Residential application is holding the largest market share. The non-residential construction sector has been a major driver of demand for green cement in recent years, especially for large-scale infrastructure projects and industrial facilities. However, the residential construction sector is also an important market segment, as more homeowners and builders are seeking to use sustainable building materials and practices.
Figure 2: Green Cement Market, by Application, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Green Cement Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific ruled the market. This can be credited to the powerful development of the car, bundling, and building and development businesses across China and India.
North America, trailed by Europe, represented the second-biggest. The rigid natural guidelines connected with the limitation on the utilization of added substances in plastics and food contact materials are relied upon to adversely affect the market development in these areas. Notwithstanding, the developing interest in conductive ink from the hardware business is relied upon to help North America and Europe markets. The market in Latin America and the Middle East, and Africa generally represented more modest offers on the lookout. Be that as it may, the specialty cement bootleg market in these areas is relied upon to observe sound development driven by the becoming car and building and development ventures in the locale.
Figure 3: GREEN CEMENT MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Green Cement Key Market Players & Competitive Insights
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Green Cement industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Green Cement industry to benefit customers and expand the market sector. Major market players, including ACC Limited, UltraTech Cement Ltd, Calera Corporation, Ceratech Inc, Solidia Technologies Inc, and others are attempting to increase market demand by funding R&D initiatives.
ACC Limited is one of the leading cement manufacturing companies in India. The company is primarily engaged in the production and sale of cement and ready-mixed concrete. In addition to cement production, the company also offers a range of value-added products and services, such as bulk cement transportation, cement packing, and consultancy services for construction projects. The company has invested in renewable energy projects, such as wind and solar power, to reduce its carbon footprint. It also operates several programs to promote biodiversity conservation and improve water management practices.
UltraTech is a cement manufacturing company. It offers a range of value-added products and services, such as construction chemicals, waterproofing solutions, and building materials. The company's products are used in a wide range of applications, including residential and commercial construction, infrastructure development, and industrial projects. The company has a strong presence across India and has also expanded its operations to the Middle East, South East Asia, and Africa.
Key Companies in the Green Cement market include
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LafargeHolcim Ltd
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Taiwan Cement Corporation
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Ecocem Ireland Ltd
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ACC Limited
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UltraTech Cement Ltd
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Calera Corporation
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Ceratech Inc
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Solidia Technologies Inc
Green Cement Industry Developments
July 2021: Holcim launches ECOPlanet its extensive line of green cement that offers performance that is outstanding while having a carbon impact that is at least 30% lower. In addition to being offered in Germany, Romania, Canada, Switzerland, Spain, France, and Italy, ECOPlanet will be distributed in 15 more nations by the end of 2021 to triple its market share to support large-scale low-carbon building.
Green Cement Market Segmentation
Green Cement Product Type Outlook
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Fly Ash based
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Slag based
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Geopolymer
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Others
Green Cement Application Outlook
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Residential
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Non-Residential
Green Cement Regional Outlook
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North America- US
- Canada
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Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
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