The GCC Green Cement Market size is estimated at 1.04 Million tons in 2024, and is expected to reach 1.58 Million tons by 2029, growing at a CAGR of greater than 8% during the forecast period (2024-2029).
The COVID-19 pandemic in 2020 affected the construction industry negatively. The widespread lockdown in GCC countries caused loss of labor and disruptions in cement production, as well as construction activities, restrictions in freight transportation, and disturbance of the supply chain of construction materials. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
Over the short term, growing construction projects in major economies like Saudi Arabia and the United Arab Emirates, favorable government policies for the usage of green cement, and availability of raw materials are major factors driving the growth of the market studied.
However, the rising cost of construction due to the higher cost of green cement is likely to restrain the growth of the studied market.
Nevertheless, research and development of novel products as raw materials for green cement will likely create lucrative growth opportunities for the global market.
Saudi Arabia represents the largest market due to the increasing adoption of green cement in its construction projects.
The GCC green cement market is partially consolidated in nature. The major players include (not in any particular order) JSW Cement, UltraTech Cement Ltd., HOLCIM, Hoffmann Green Cement Technologies, and CEMEX, S.A.B. de C.V., among others.
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