Comprehensive Report on Global Green Cement Market by Knowledge Sourcing Intelligence
The global green cement market is projected to grow at a CAGR of 9.65% to reach US$35.680 billion by 2024, from US$20.535 billion in 2018. Green Cement or Concrete is a term given to a concrete that has had extra steps taken in the mix design and placement to insure a sustainable structure and a long life cycle with a low maintenance surface. E.g. energy saving, CO2 emission, wastewater and etc. Burgeoning need to reduce carbon footprint from the environment is driving the global green cement market growth.
Impact of Growing Emission :
The emission of greenhouse gas has been increasing globally as the trend of industrialization continues. In fact, the percentage of countries committed to peaking their emission is expected to increase from 36% in 2010 to 60% in 2030 (source: Emission Gap Report 2018, United Nation Environment Programme). This is correlated with the steady increase in the production of ordinary Portland cement (OPC). In fact, the cement industry is estimated to contribute to approximately 5% of the carbon dioxide emission. Apart from the carbon dioxide, the cement factories are also responsible
Global Green Cement Market By Geography :
By Geography ,the global green cement market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America holds a major share in the market on account of burgeoning investment in green building construction by major countries like The U.S.A., Canada, and others. Strict regulations set by the United States Environment Protection Agency (EPA) regarding greenhouse gas emission reduction is driving the green cement market growth. The European region is projected to witness good growth during the forecast period owing to strict regulations imposed by local governments and the European Union (EU) to curb the carbon emissions.
Furthermore, growing construction activity in the region is further expected to upscale the green cement market in the coming years. Asia Pacific is expected to be the fastest growing region on account of growing investment in green building requiring the use of green cement. In addition, rising CO2 emission in the region couple with increasing government initiative to tackle the carbon emission is further expected to boost the adoption of green cement in the region. In Middle East and Africa, favorable government programs and policies promoting green construction in regions such as Saudi Arabia, and Israel, among others is expected to augment the demand for green cement in the upcoming years. With the burgeoning focus of the government towards reducing their carbon footprint is anticipated to bolster the green cement market growth in the region.
The North America green cement market has been segmented as USA, Canada, Mexico, and others. The market in North America is projected to grow at a CAGR of XX% to reach a market size of US$XX billion in 2024 from US$XX billion in 2018. Growing regulations related to greenhouse gas emission is the major driving factor that is compelling cement manufacturers to produce cement that is eco-friendly in nature. Burgeoning investment in green building construction in countries like the USA, Canada, and Mexico is playing a crucial role in the rising adoption of new construction materials that are sustainable in nature. This in turn is boosting the demand for green cement in the region. In Mexico, growing infrastructure investment is expected to bolster the market’s growth in the upcoming years.
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