Green Cement Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global green cement market size is expected to reach USD
37.75 billion by 2024, according to a new report by Grand View Research, Inc.
It is anticipated to expand at a CAGR of 8.5% over the forecast period.
Stringent environment regulations, coupled with rapid advancements in the Asia
Pacific construction industry, is contributing to the market demand.
North
America is the largest revenue-generating region for the green cement market,
followed by Europe owing to the presence of regulatory bodies such as the
United States Environmental Protection Agency (EPA) and the European
Environment Agency (EEA). Moreover, the regions are characterized by higher
adoption of sustainable solutions to avoid negative environmental impact.
Green cement
is an eco-friendly substitute for traditional cement. It can reduce carbon
emissions at construction sites by 40%. There is no fixed formula or method to
manufacture green cement. However, various researchers and market players have
developed different ways to manufacture green cement. California-based Calera
Group has developed a Portland cement substitute where calcium
carbonate obtained from seawater is mixed with carbon dioxide.
Key
application areas of green cement market include residential, commercial, and
industrial. In terms of volume, residential sector was the largest application
area in 2015 and held 44.2% market share. Growing urbanization in emerging
economies such as India and China with demand for environmentally safe
buildings is expected to drive the market growth over the forecast period.
Further key
findings from the report suggest:
- The global
green cement market is anticipated to reach 227,366.3 kilo tons by 2024
- In terms of
revenue, the residential segment is projected to ascend at a CAGR of 8.5%
over the forecast period
- The commercial
application dominated the global green cement market with a share of over
28% in 2015
- Countries such
as China and India are anticipated to observe promising growth during the
forecast period
- Major market
players are either start-ups focusing solely on green cement or
established players gradually switching to green cement manufacturing
- Some of the key
market participants are CEMEX, China National Building Material Company
Limited, Calera Corporation, HeidelbergCement AG, and LafargeHolcim.
Access
full research report on global green cement market:
www.grandviewresearch.com/industry-analysis/green-cement-market
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Created on Dec 17th 2019 08:25. Viewed 376 times.