Green Cement Market Forecasts to 2028 – Global Analysis By Product Type (Limestone-Based, Fly Ash-Based, Silica Fume-Based), Application (Repair & Maintenance Activities, New Constructions Activities, Bridges and Roads), End User (Non-Residential, Residen

Green Cement Market Forecasts to 2028 – Global Analysis By Product Type (Limestone-Based, Fly Ash-Based, Silica Fume-Based), Application (Repair & Maintenance Activities, New Constructions Activities, Bridges and Roads), End User (Non-Residential, Residential, Infrastructure), and By Geography

According to Stratistics MRC, the Global Green Cement Market is accounted for $24.54 billion in 2021 and is expected to reach $51.28 billion by 2028 growing at a CAGR of 11.1% during the forecast period. Green cement refers to an eco-friendly and clean substitute for conventional cement. It possesses high impact and compressive strength, good bearing strength, resistance to thawing and freezing, endurance towards chemical attack & abrasion, and low moisture penetrability. It is manufactured using a carbon-negative process that employs various industrial by-products and waste materials, such as fly ash, silica fume, aluminosilicates, recycled concrete aggregates, aluminum can fibers, and blast furnace slag.

The demand for cement industry is primarily driven by the housing sector (about 68% including low cost affordable housing). Industrial and Infrastructure contributes to 10% and 22% of the demand respectively. The thrust provided by the government in the form of spending on infrastructure such as construction of roads, railways, highways, rural and low cost affordable infrastructure augurs well for the industry. The demand of cement industry is expected to reach 550-600 MT per annum (MTPA) by 2025 because of the expanding demand of different sectors, i.e., housing, commercial construction, and industrial construction. India’s overall cement production accounted for approximately 262 million tonnes (MT) in FY21. The cement production is expected to increase by 10% to 12% and the utilization is expected around 65% in FY22.

Market Dynamics:

Driver:

Growing demand for sustainable construction materials

Limited availability of raw materials, depletion of natural fuel resources, and rising cement demand and environmental concerns are acting as challenges for the cement industry which leads to boost the demand for alternative fuels from renewable energy resources and supporting recycling of waste materials. It is estimated that for the production of every ton of OPC, an equal amount of carbon dioxide gets released into the atmosphere. The energy requirement during the production of OPC can be reduced with cement manufactured from locally available minerals and industrial wastes. These can be blended with OPC either as a substitute or can be fully replaced with novel clinkers. Green cement minimizes carbon footprint of cement production by 40%. The emission of carbon dioxide with the help of green cement can be limited to 30% or even less in comparison to the conventional methods. Increasing initiatives regarding the construction of green buildings and demand for sustainable cements for green building construction are expected to increase the utilization of green cement.

Restraint:

High investments required for the production of green cement

High savings required for the fabrication of green cement is anticipated to unfavourably affect the market growth. The risk allied with investment in an innovative product or production technology is preventing manufacturers as well as consumers from investing in green cement. Set-up and production costs for green cement are relatively higher than that for production of OPC. In addition, lack of awareness regarding the product in the construction sector a number of countries and among many consumers is also adversely affecting demand. Since the product is at an early stage of development, many companies are increasingly investing in research and development activities to produce more advanced and effective product, which could further minimize carbon footprint of cement production.

Opportunity:

Applications of green cement in residential sector generates opportunities

The global market is majorly driven by factors such as fast urbanization in developing countries and increasing demand for single homes, etc. Green cement is an excellent substitute for Ordinary Portland Cement (OPC), due to its higher thermal insulation and fire resistance properties. There is an increasing demand for green cement from growing construction and development activities in emerging activities. Structures built using green cement can withstand with temperatures upto 2400F. Green cement is a material produced from industrial wastes, burnt clay, slag, power plant wastes, recycled concrete, etc. In addition, green cement is popularly used in various building & construction projects, as it provides excellent resistance to alkali attack during weather change. This factor is expected to show lucrative opportunities for manufacturers operating in the green cement market.

Threat:

Less life

Structures which are constructed using green concrete have less life than the structures constructed by the conventional concrete. As they have less life span they cannot be used for important structures like bridges, dams etc. For the use in dams and bridges special air-entraining agents are mixed in the concrete which increases the overall cost of the structures. Moreover, split tensile strength of green cement is less due to which more reinforcements are needed, which increases the construction cost of the structure.

The fly ash-based segment is expected to be the largest during the forecast period

The fly ash-based segment is estimated to have a lucrative growth, due to increasing consumption of sustainable cement owing to rising construction activities in developing countries and favourable government policies. Fly ash is finely divided residue resulting from the combustion of powdered coal and transported by flue and noxious gases and collected by electrostatic precipitation. It is most used pozzolanic material all over the world. According to World Bank, the volume of fly ash produced is about 75 million tons per year. It improves both fresh concrete and hardened concrete properties of hydraulic cement concrete. The fly ash type utilized is limited to Class-F and Class-C types. Moreover, rise in demand for alternative fuels from recycling of waste and renewable resources to prevent excess amount of carbon dioxide released by OPC is increasing demand for fly ash.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period due to the improvements in the burgeoning construction industry and increase in its application in commercial establishments such as office spaces, shopping malls, theaters, and hospitals. Certain properties of cement, such as greater resistance to extreme weather conditions, compressive strength, and short setting time, are expected to boost the industry growth. Furthermore, construction activities are booming in several South Asian countries, including Thailand, India, Vietnam, China, and Thailand.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the stringent government regulations and fast urbanization and industrialization. The demand for new homes in the United States has been continuously increasing in recent years, owing to the country’s growing population and rising consumer incomes. The growth of new home development in the United States has also been fueled by a reduction in typical household sizes, with single-family housing rising at a rapid rate. The U.S. government provided many financing options at different levels including federal, state, and municipal levels to support the development of sustainable building environment. Tax incentives available for the construction of energy efficient commercial buildings and growing focus on green buildings by implementing The Green Building Incentive Program (GBIP) are expected to boost demand for green cement in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the powerful development of the car, bundling, and building and development businesses across China and India, rapid urbanization, and growth in the population. Developing economies particularly from the Asia Pacific region are the fastest growing infrastructure and construction markets propelled by high industrial growth rate where governments are spending extensively for public construction. Major companies in the region such as Navrattan Blue Crete Industries Pvt., Ltd, JSW Cement, Anhui Conch Cement Co., Ltd., China National Building Material Co., Ltd. (CNBM), are increasingly investing in the research and development (R&D) activities in order to produce stronger, sustainable, durable, and cost-effective construction material. For instance, the Chinese construction industry has witnessed a remarkable growth in the recent years. Ever since the Belt and road initiative, Chinese contractors had actively invested in numerous infrastructure projects including around 20,000 construction contracts along with the belt and road initiative globally.

Key players in the market
Some of the key players profiled in the Green Cement Market include Schneider Electric, Calera Capital, Kiran Global Chems Ltd, Navrattan Group, JSW Cement, Taiheiyo Cement Corporation, The Dow Chemical Company, HeidelbergCement AG, UltraTech Cement Ltd., BASF SE, CeraTech Inc, Pidilite Industries, Rpm International Inc., Sika Corporation, Solidia Technologies, CarbonCure Technologies Inc., Maipei Ltd, and CICO Technologies Ltd.
Key Developments:

In Dec 2020, UltraTech Cement Ltd., a subsidiary of the Aditya Birla Group, invested around USD 722 million to expand its capacity to 12.8 million tonnes per annum through a combination of brownfield and greenfield expansion. This expansion includes a 6.7 mtpa capacity expansion in Uttar Pradesh, Odisha, Bihar, West Bengal, and a cement plant in Pali, Rajasthan.

In Apr 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.

In November 2018, JSW Cement, India’s one of the leading producer of green cement, announced the launch of an improved version of its flagship cement product ‘Concreel HD’ in Maharashtra, which is comes with enhanced properties that improve strength & durability.

In January 2016, Kiran Global Chems Ltd, a part of M S Jain Group, launched an environment-friendly green cement, branded “Geocement”, using patented technology. According to Company, using this product will help to save water, reduce emission of carbon dioxide as well as cut down on construction time.

Product Types Covered:
• Limestone-Based
• Fly Ash-Based
• Silica Fume-Based
• Blast Furnace Slag Based
• Geopolymer-Based
• Recycled Aggregates

Applications Covered:
• Repair & Maintenance Activities
• New Constructions Activities
• Bridges and Roads
• Mass Construction

End Users Covered:
• Non-Residential
• Residential
• Infrastructure

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances