Theglobal green cementmarket displays a highly consolidated landscape with a fewmajor market players holding half of the market’s share, reports TransparencyMarket Research (TMR). Prominent players in the global green cement marketinclude Lafarge S.A., Taiheiyo Cement Corporation, CEMEX S.A.B. de C.V., ChinaNational Building Material, and Heidelberg Cement AG. These companies areengaging in strategic alliances and product differentiation to expand theirmarket’s share. Moreover, they are expanding their production capacity to gaina stronghold in the market.
Asprojected by TMR analysts, the global green cement market to exhibit immensegrowth potential rising at 11.3% CAGR during the forecast period, which is 2016to 2024. The market is expected to rise from its initial valuation of US$14.80bn to reach a value of US$38.10 bn by 2024.
In terms ofapplications, the global green cement market is segmented into infrastructure,residential, and non-residential sectors. Out of these, the residential sectoris anticipated to hold a leading position in the market owing to a rapidlygrowing population and developments in infrastructure.
On thegeographical front, the global green cement market is divided into AsiaPacific, Europe, North America, Latin America, and Middle East and Africa. Amongthese, Europe is expected to present lucrative growth opportunities for themarket owing to the stringent environmental regulations laid down by itsgovernments.
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Rising Carbon DioxideEmissions to Strengthen the Market’s Growth
One of the prominent factors driving the growth of the globalgreen cement market is the rise in construction activities. The growth inconstruction activities is attributable to the growing population and rapidurbanization. Moreover, carbon dioxide emissions caused by the ordinary cementhave also driven the market’s growth. Governments have laid down strict lawsmandating the use of green cement.
In addition to the aforementioned drivers, a rising awarenessregarding the detrimental effects of carbon dioxide emissions on theenvironment and the benefits offered by green cement has spiked the greencement market’s growth. In addition, green cement offers better functionalityas compared to traditional cement leading to increased penetration in theglobal market.
Furthermore, easy access to raw materials has played a key rolein augmenting the global green cement market’s growth. Along with this,infrastructural development and massive investment in green constructionprojects will support the growth of the green cement market. This has alsoresulted in an increase in research and development activities pertaining togreen cement, thus benefiting the market.
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However, along with the drivers, there are a few restraints thatmay pose a threat to the global green cement market’s growth. There is a lot ofvariance in the strength of different types of green cement, depending on theraw materials. This may pose a major threat to the market, thus impeding itsgrowth. Nonetheless, the rise in expenditure on infrastructure and favorablehome loan policies may offset the effects of the restraints.
New Product Innovations to Present Lucrative Growth Opportunities
A Canadian startup, CarbonCure has invented a new system thatcaptures carbon dioxide emission. This captured carbon dioxide is then injectedinto the concrete while it is mixed. The carbon is sequestered once theconcrete hardens as it becomes a mineral after reacting with the concrete. Thissystem also reduces the need for cement, thereby lowering carbon dioxideemissions. In addition, the mineral enhances the compressive strength of theconcrete. Such innovations significantly enhance the growth prospects of theglobal green cement market.
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