Market Synopsis: Global Green Concrete Market
The Global Market for Green or Recycled Concrete has witnessed substantial growth in the past. The demand for green concrete is expected to be driven by the rising demand for cost-effective solutions and sustainable building materials in the construction industry. Green concrete also finds applications in energy-efficient building infrastructure, therefore, the rising number of energy-efficient construction projects across the globe is further expected to create a higher demand for green or recycled concrete.
The growing urban population in various cities and surrounding areas have given rise to the requirement of infrastructure to support the high demand for food, power, and water. According to the World Green Building Council, construction projects all over the world have grown significantly in the last few years and the demand for green buildings is poised to grow in the next three years. Green buildings are becoming popular with an increase in the number of initiatives taken by various organizations. In addition, the rising adoption of green building concepts along with the easy availability of raw materials is a prime factor that is expected to fuel the demand for green concrete in the coming years.
Global Green Concrete Market was valued at USD 20 Billion in 2018, which is expected to witness a 7.5% CAGR during the forecast period.
By Region, the Global Green Concrete Industry has been segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Europe region dominated the global green concrete industries in 2018. The green concrete market is in the emerging stage and is currently confined to developed economies; however, increasing awareness about the benefits of green concepts would encourage its adoption of in developing countries in the coming years. Europe region dominated the market in terms of revenue owing to the growing applications of green concrete as the building material in this region. The European Union has taken initiatives to promote the application of recycled products as construction materials. North America is likely to hold the second-largest share in the global green concrete market. Asia-Pacific is considered to be the fastest-growing region in the global green concrete market.
On the basis of end users, the global market has been segmented into residential, commercial, industrial, and infrastructure. The commercial segment has been further segmented into public facilities, institutional, healthcare, R & D centers, and others. The commercial segment is likely to hold the largest market share and is expected to be the fastest-growing segment in the global green cement concrete market. Increasing sustainable building construction practices in the commercial sector has further boosted the demand for green concrete. It has been introduced as an important solution in commercial building construction. With a focus on cost-effective and sustainable construction solutions, the demand is likely to gain pace during the coming years. The residential construction sector is expected to register the highest growth rate. The rise in urbanization and the growing adoption of sustainable products are projected to drive the green concrete market in emerging economies during the forecast period.
The Key Players in the Global Green Concrete Industry include The 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)
Frequently Asked Questions (FAQ) :
Global green concrete market is projected to grow at approximately 7.5 % CAGR during the assessment period (2019-2025).
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.