The Global Green Cement Market is expected to grow at a CAGR of 13.3% during the forecast period 2018 – 2025, to account to US$ 42,731.2 Mn by 2025 from US$ 15,552.7 Mn in 2017.
The global green cement market is witnessing an exponential growth with regards to the innovations and up gradations of raw materials being carried out by the market players. Another factor boasting the market growth in the current scenario is the initiatives undertaken by various governments of developed countries as well as developing economies. The market for green cement consists of large and well-established players as well as tier-2 and tier-3 companies across the globe, which invests huge amounts in order to deliver the most enhanced cementitious product to their customers.
In addition, the infrastructure / construction industry across the globe is experiencing significant growth rate attributing to the demand from the mass. Parallel to this, the global infrastructure industry is experiencing a substantial demand to reduce the usage of Ordinary Portland Cement (OPC), which emits enormous amount of toxic CO2 gases. Owing to this factors, the players operating in the cement industry are shifting their focus towards eco-friendly raw materials such as fly ash, slag, recycled aggregates, and silica fumes, and burnt clay among others to mix them with lime and other solutions to prepare cement. These cementitious products emit much less CO2 as compared to Ordinary Portland Cement (OPC).
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The cement industry across the globe is experiencing a significant challenge in procuring raw materials owing to the increase in scarcity of fossil fuels, limestone and others. On the other hand, the construction growth worldwide is peaking at an exponential rate due to the rising demand for commercial sectors, residential sectors, and industries. This factor is directly proportional to the growth in demand for cement. This factor has risen the demand for other alternatives to Ordinary Portland Cement (OPC), i.e. green cement. The rapid increase in thermal power plants, steel manufacturing plants, and other manufacturing / engineering industries across the globe, produces significantly large quantity of by products such as fly ash, slag, and, micro-silica, among others. The deposition of these by products is enormous in context to their usage or consumption.
Leading Green Cement Market Players:
1. Anhui Conch Cement Company Limited
2. CEMEX, S.A.B. DE C.V.
3. China National Building Material Co., Ltd.
4. China Resources Cement Holdings Limited
5. HEIDELBERGCEMENT AG
6. LafargeHolcim Ltd
7. TAIWAN CEMENT CORPORATION
8. Votorantim Cimentos
10. Taiheiyo Cement Corporation
Attributing to the increasing demand for cement as well as rising quantity of industrial byproducts in various countries, has propelled the governments of respective countries to undertake several initiatives to utilize the industrial byproducts into cement manufacturing. The increasing initiatives from the governments in the developed countries and developing nations is driving the market for green cement and the rising drift towards green alternatives of OPC is projecting a prominent future for the green cement market worldwide in the coming years.
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The global green cement market by geography is segmented into five regions including; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific accounted for the largest share in 2017 in global green cement market. Europe is anticipated to exhibit enormous growth in adopting green cement during the forecast period, thereby escalating at a prime rate over the years from 2018 – 2025.
The global green cement market is a highly fragmented and evolving market worldwide. Leading players in the global green cement market capture merely >35% of the market, whereas the rest of the market is occupied by regional players including tier-2 and tier-3 companies in respective regions. The green cement market operates in a highly competitive marketplace. As leading companies in the green cement market continue to broaden their addressable market, by expanding its current product portfolio, diversifying its client base, and developing new products and markets, all the prominent players face an increasing level of competition, both from start-ups as well the leading global industrial companies in the world.
The rising penetration of green cement market in the developing economies of Middle East and Africa, and Asia coupled with the rapidly developing commercial, residential and industrial infrastructures in these regions are proving to be the major drivers for the growth in the adoption of green cement market in the present scenario and the trend is expected to boost the market to propel in the coming years. Additionally, with an objective to reuse and complete utilization of the fly ash and slag, various governments and private organizations are undertaking initiatives to set up cement factories near respective plants. These initiatives help the country and the government to increase industries as well as utilize the residuals of thermal power plants and steel plants, thereby, propelling the fly ash cement segment and slag cement segment in the industrial sector.
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The global green cement market is segmented on basis of types, and end users. The slag segment is the most prominent green cement across geographies, pertaining to the increased strength, workability enhancement, permeability reduction, improved performance, and increased durability among others. These advantages of the segment are the major drivers for the segment to exhibit a prime growth rate during the forecast period from 2018 – 2025.
Geographically, the market for green cement is largely dominated by Asia Pacific region, owing to the huge availability of raw materials required for preparing green cement. Another factor boosting the market for green cement in the region is the rise in population in Asia Pacific countries, which demands more residential areas. However, the market for green cement is foreseen to be tending towards the European market during the forecast period, due to various government initiatives and an increase in manufacturing facilities.
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