North America Green Cement and Concrete Market Forecast to 2030 - Regional Analysis - by Product Type (Fly Ash Based, Geopolymer, Slag Based, and Others) and End user (Commercial and Public Infrastructure, Industrial, and Residential)
The North America green cement and concrete market is expected to grow from US$ 3,423.61 million in 2022 to US$ 6,129.92 million by 2030. It is estimated to record a CAGR of 7.6% from 2022 to 2030.
Growing Utilization of Sustainable Materials in Public Infrastructure Fuels North America Green Cement and Concrete MarketThe increasing concern for environmental pollution and carbon emissions from different industries has encouraged the governments of several nations to adopt more eco-friendly and sustainable alternatives with low to zero carbon emission rates. The cement industry is a major carbon-centric sector with a substantial share in growing environmental pollution worldwide. Green cement was developed to reduce the carbon footprint in the cement industry. The adoption of green cement in commercial and public infrastructure is rising and is anticipated to be more prominent in the coming years. The growing government initiative and encouraging policies are projected to boost the integration of sustainable green cement and concrete in the foundation of public infrastructure. Similarly, the Hudson Yards Concrete Casing project and Brent Spence Bridge Corridor Project in the US and Nordlicht I, an offshore wind farm, the Fehmarn Belt tunnel, and Regensburg Quarter in Germany are expected to be developed using sustainable materials. Thus, the increasing proliferation of green cement as a viable alternative to conventional cement is anticipated to maintain its growing application in the commercial and public infrastructure sector.
North America Green Cement and Concrete Market OverviewThe US, Canada, and Mexico are the major economies in North America that have witnessed growth in their construction activities. These countries are using the sustainable material for the infrastructure development projects with government support and initiatives. In 2020, according to the CDP North America Inc. company report, in more than 97 cities across the US invested around US$ 25.6 billion for sustainable infrastructure development projects. Further, the US government announced investment of around US$ 1.9 trillion under the America Rescue Plan with aim to 'green building' investments. As of 2019, there were more than 70,000 buildings and commercial places registered under the Leadership in Energy and Environmental Design (LEED), standard for the green construction. Thus, North American countries are growing at rapid pace with highest CAGR of 7.6% during the forecast period.
The construction industry in North America is vast and dynamic owing to continuous economic growth in the US and Canada. Continuous growth in the construction sector is directly affecting the growth of the cement industry positively. For instance, as per the US Geological Survey (USGS), the US produced 95 million tons of Portland and masonry cement in 2022, up from 93 million tons the previous year. This increased demand for cement directly affects carbon emissions positively. According to US Environmental Protection Agency (EPA) carbon emissions data, cement manufacturing currently accounts for 1.25% of US CO2 emissions, with demand expected to rise. The green cement industry in North America has been steadily gaining momentum over the past few years, fueled by a growing awareness of the environmental impacts of traditional cement production. In the US and Canada, various cement manufacturers have been actively exploring sustainable methods of cement production by incorporating alternative raw materials and deploying carbon capture technologies. For instance, in 2020, CEMEX launched its first carbon-neutral concrete in Mexico, developed in its research and development center in Switzerland.
Furthermore, government initiatives to reduce carbon emission is another factor anticipated to fuel the green cement market growth in the region. In 2023, the Cement Association of Canada presented a Concrete Zero action plan to reduce carbon emissions in Canada's cement and concrete industry. In addition, in 2022, The Biden-Harris Administration announced a new initiative, the Federal Buy Clean Initiative, to encourage the development of low-carbon construction materials manufactured in the United States. Moreover, in 2023, the Cement Association of Canada presented a Concrete Zero action plan to achieve carbon emission reductions in Canada's cement and concrete industry. In addition, in 2023, the Government of Canada and Heidelberg Materials partnered to decarbonize the cement and concrete industry. Further, the region's key players, such as CEMEX, Lafarge Canada, CRH Canada, and St. Marys Cement, are actively developing and implementing sustainable solutions. Such government initiatives and key player's R&D activities are projected to drive the market in the near future.
Governments of the US, Canada, and Mexico are investing significant amounts in the development of nonresidential infrastructures, including airports, hospitals, hotels, office buildings, and universities. Modern-day builders emphasize green cement and concrete to build an attractive infrastructure.
North America is growing with highest CAGR for the green cement and concrete market owing to government initiatives for the sustainable infrastructure development projects.
North America Green Cement and Concrete Market Revenue and Forecast to 2030 (US$ Million)
North America Green Cement and Concrete Market SegmentationThe North America green cement and concrete market is segmented into product type, end user, and country.
Based on product type, the North America green cement and concrete market is segmented into fly ash based, geopolymer, slag based, and others. The fly ash-based segment held the largest share of the North America green cement and concrete market in 2022.
In terms of end user, the North America green cement and concrete market is segmented into commercial and public infrastructure, industrial, and residential. The commercial and public infrastructure segment held the largest share of the North America green cement and concrete market in 2022.
Based on country, the North America green cement and concrete market is segmented into the US, Canada, and Mexico. The US dominated the North America green cement and concrete market in 2022.
China National Building Material Co Ltd, Green Cement Inc, Anhui Conch Cement Co Ltd, Holcim Ltd, Navrattan Green Cement Industries Pvt Ltd, Cemex SAB de CV, and HeidelbergCement AG are some of the leading companies operating in the North America green cement and concrete market.
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