Market Research Report
Green cement is an eco-friendly alternative for ancient cement. It can reduce carbon emissions at construction sites by 40%. There is no mounted formula or methodology to manufacture green cement. However, numerous researchers and market players have developed alternative ways to manufacture this cement. California-based Calera Group has developed a Portland cement substitute where calcium carbonate obtained from seawater is mixed with carbon dioxide.
Green cement is taken into account as a viable construction material because of vital reduction in carbon footprint related to producing and use of inexperienced cement. Green cement is a class of cements comprising varieties of cement that exhibit functional properties which are at par with conventional cement and do not involve adverse impact on the environment. Green concrete producing method is characterised by comparatively lower dioxide emissions as compared to standard cement producing.
The global green cement market is driven by growth in awareness linked to lessening in carbon emissions and its damaging effect on the environment. In addition, the green cement provides better functionality, requires fewer natural materials during production, and releases less carbon dioxide than the traditional cement, subsequently resulting in higher market penetration during the forecast period. Moreover, severe environment regulations, government initiatives to improve tax conditions, and subsidy grants for green materials production are likely to boost the market growth.
The global Green Cement market is segmented based on product type, application and region.
Green Cement Market by Product
The various green cement products include Fly ash, Slag based, Geopolymer and others. The fly ash segment is anticipated to show a good growth rate because of plenty of availability from thermal plants joint with the government protocols towards better utilization rather than discarding in open lands is expected to provide opportunities for green cement market. The government of India has launched an app for better administration of fly ash from thermal plants.
Green Cement Market by Application
The market finds application in Residential, Commercial and Others. The commercial segment is likely to be the most profitable for investment in the market, followed by the residential segment during the forecast period. The growing demand for green cement in the commercial segment is due to the surge in its application in commercial establishments such as office spaces, shopping malls, theatres and hospitals. Furthermore, certain characteristics of cement, such as greater confrontation to extreme weather conditions, compressive strength, and short setting time, are expected to boost the industry growth.
Green Cement Market by Geography
Geographically, this market is studied for North America, Europe, Asia-Pacific and Rest of the World. North America and Europe are the leading regions in the market. With the collective demand for sustainable products and performing of severe carbon emission regulations, stress on developing zero waste regions is increasing. Additionally, in North America, due to the stringent regulations of the US Environmental Protection Agency (EPA) regarding GHG emissions and accelerating customer demand for a clean energy source. Additionally, Asia Pacific is a progressively becoming a potential market due to growing construction industry and events in the region, especially in developing economies, such as India, and Indonesia.
The major players involved in this market are LafargeHolcim, HeidelbergCement AG, Anhui Conch Cement, CEMEX S.A.B. de C.V., Taiheiyo Cement Corporation, China National Building Material, Votorantim Cimentos S.A., UltraTech Cement Ltd., Taiwan Cement Corporation and ACC Ltd. among others.
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The global Green Cement market is segmented by product, application and geography. By type, this market is classified into Fly ash, Slag based, Geopolymer and others. Furthermore, this market finds applications in Residential, Commercial and Others
Geographically, this market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific is estimated to witness noteworthy growth in demand for green cement owing to vigorous growth in construction industry in the emergent economies of China and India. Moreover, anticipated strong growth in construction activity, especially in Middle East countries such as Saudi Arabia, and United Arab Emirates, among others are expected to drive the growth in demand for green cement during forecast period.
Various firms are undertaking R&D activities to advance the technology. These companies have applied numerous raw materials to obtain cost-effective green cement mixture. Thus, such initiative and advancements by producers are expected to provide profitable opportunities for the market growth.
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