Green Cement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Green Cement Market Analysis
During the time of the forecast, the green cement market is expected to grow at a CAGR of more than 6%.
- COVID-19 negatively impacted the market in 2020. Construction work and other activities were put on hold to curb the virus's spread, negatively affecting the market. However, in 2021, the market grew steadily, owing to increased building and construction activities. The market is expected to follow a similar projection during the forecast period.
- The major factors driving the market include favorable government policies for green buildings and increasing concern about greenhouse gas (GHG) emissions from cement production. The abundance availability of raw materials, such as fly ash, is also expected to drive the market forward.
- On the contrary, the iconoclastic nature of the construction market is expected to hinder the market's growth significantly. Over the next few years, the encouraging performance of high belite cement (HBC) in China will likely act as an opportunity for growth.
- North America is expected to dominate the global market during the forecast period due to the exponentially increasing construction activities in the region.
Green Cement Market Trends
This section covers the major market trends shaping the Green Cement Market according to our research experts:
Rising Demand from the Residential Construction Industry
- The residential sector is one of the significant demanding markets for white cement across the globe. Increasing construction of new residential buildings owing to the rise in disposable income of the middle class is expected to drive the market studied.
- The rising number of building codes and policies mandating energy-efficient structures have led to the growth of green cement in the residential sector. In Canada, various government projects, including the Affordable Housing Initiative (AHI), New Building Canada Plan (NBCP), and Made in Canada, are set to support the expansion of the sector hugely, thereby driving the use of green cement in the residential sector.
- Manchester City Council (MCC) approved a nine-year scheme to build four skyscrapers in February 2022. The apartment blocks, ranging from 39 to 60 storeys in height, are planned for two parcels of land on the banks of the River Irwell, known as Trinity Islands. The buildings, featuring 1,950 flats, would be located on land between Regent Road, Liverpool Road, and Water Street, which is currently a car park.
- In its recent publication, the Ministry of Construction of Vietnam also stated that the People's Committee of Ha Long City in Quang Ninh Province commenced construction of a social housing project of nearly 1,000 apartments in Ha Long City's Hong Hai Ward and Cao Thang Ward in the early November of 2022.
- Furthermore, Germany also approved the construction of 25,399 homes for October 2022. According to the Federal Statistical Office (German: Statistisches Bundesamt, shortened Destatis), this represented a drop of 4,198 building permits, or 14.2%, from October 2021. Further, between January and October 2022, a total of 297,453 residential building permits were issued.
- Additionally, in North America, stringent regulations of the US Environmental Protection Agency (EPA) regarding greenhouse gas (GHG) emissions are accelerating consumer demand for a clean energy source, which in turn would lead to an increase in the demand for green cement.
- Furthermore, growing awareness among consumers, especially in developed nations, regarding the energy benefits associated with green homes is expected to drive the green cement market in the residential sector over the forecast period.
United States to Dominate the Demand in North American Region
- The demand for new homes in the United States has been steadily increasing in recent years, owing to the country's growing population and rising consumer incomes. With the expanding trend of multi-family construction and the increase in migration to cities, the US Census Bureau has issued more permits for the construction of new residential buildings.
- During the first eleven months of 2022, construction spending amounted to USD 1,657.6 billion, 10.5% above the USD 1,499.8 billion for the same period in 2021. In 2022, residential construction was at a seasonally adjusted annual rate of USD 868.0 billion in November, 0.5% below the revised October estimate of USD 872.4 billion. Non-residential construction was at a seasonally adjusted annual rate of USD 558.3 billion in November, 1.7% above the revised October estimate of USD 549.2 billion.
- According to the US Census Bureau, in January 2023, the seasonally adjusted annual rate of privately owned dwelling units authorized by building permits was 1,339,000, which is a mere 0.1% higher than the revised December rate of 1,337,000.
- The statistics by the US Census Bureau also stated that the privately owned housing completions were at a seasonally adjusted annual rate of 1,406,000 in January 2023, which is 1.0% more than the revised December estimate of 1,392,000 and 12.8% higher than the January 2022 rate of 1,247,000.
- Aside from new home development, the United States is investing heavily in home improvements. The necessity for rehabilitation has become increasingly critical as the country's migrant population has grown. In addition, the increased awareness of the importance of sustainability and high-efficiency constructions has fueled the restoration trend. The availability of many government loans also encourages home upgrading in the country.
- Moreover, the aforementioned factors, along with a growing focus on green buildings, are providing opportunities for green cement to be used in the construction sector at a healthy rate during the forecast period.
Green Cement Industry Overview
The green cement market is partially consolidated in nature. Some of the major players in the market studied include Heidelberg cement AG, Kiran Global Chem Limited, Ecocem, NavrattanGroup, and Holcim, among others.
Green Cement Market Leaders
-
HEIDELBERGCEMENT AG
-
Kiran Global Chem Limited
-
Ecocem
-
Holcim
-
NavrattanGroup
*Disclaimer: Major Players sorted in no particular order
Green Cement Market News
- October 2022: JSW Cement announced that it plans to invest more than INR 3,200 crore (USD 390 million) to establish an integrated green cement manufacturing facility in Madhya Pradesh as well as a split grinding unit in Uttar Pradesh. The combined cement capacity across both these units will be 5 metric tonnes per annum (MTPA).
- July 2022: Hallett Group announced the launch of a USD 125 million valued green cement project that will reduce Australian carbon dioxide (CO2) emissions by 300,000 tonnes per annum immediately, growing to approximately one million tonnes per annum in the future, is taking shape across Port Adelaide, Port Augusta, Port Pirie, and Whyalla.
Green Cement Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Favorable Government Policies for Green Buildings
4.1.2 Increasing Concern of GHG Emissions from Cement Production
4.1.3 Abundance Availability of Raw Materials
4.2 Restraints
4.2.1 Iconoclastic Nature of Construction Market
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Fly Ash-based
5.1.2 Slag-based
5.1.3 Limestone-based
5.1.4 Silica fume-based
5.1.5 Other Product Types
5.2 Construction Sector
5.2.1 Residential
5.2.2 Non-residential
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ecocem
6.4.2 Ecoplus Industries Pvt. Ltd.
6.4.3 Hallett Group
6.4.4 HEIDELBERGCEMENT AG
6.4.5 Holcim
6.4.6 JSW Cement
6.4.7 Kiran Global Chems Limited
6.4.8 NavrattanGroup
6.4.9 Taiheiyo Cement Corporation
6.4.10 UltraTech Cement Ltd
6.4.11 Votorantim Cimentos
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Encouraging Performance of HBC (High Belite Cement) in China
7.2 Continuous R&D by Major Cement Companies
Green Cement Industry Segmentation
Green cement is an environmentally friendly cement that is manufactured using a carbon-negative technique. Most of the raw materials needed to make green cement are waste from industrial work. The primary components used in the production of green cement are blast furnace slag and fly ash. It offers higher strength, longevity, crack resistance, and low chloride permeability.
The green cement market is segmented by product type, construction sector, and geography. Based on product type, the market is segmented into fly ash-based, slag-based, limestone-based, silica fume-based, and other product types. Based on the construction sector, the market is segmented into residential and non-residential sectors. The report also covers the market size and forecasts for the green cement market in 15 countries across major regions.
For each segment, market sizing and forecasts have been done based on revenue (USD million).
| Product Type | |
| Fly Ash-based | |
| Slag-based | |
| Limestone-based | |
| Silica fume-based | |
| Other Product Types |
| Construction Sector | |
| Residential | |
| Non-residential |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Green Cement Market Research FAQs
What is the current Green Cement Market size?
The Green Cement Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Green Cement Market?
HEIDELBERGCEMENT AG, Kiran Global Chem Limited, Ecocem, Holcim and NavrattanGroup are the major companies operating in the Green Cement Market.
Which is the fastest growing region in Green Cement Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Green Cement Market?
In 2024, the North America accounts for the largest market share in Green Cement Market.
What years does this Green Cement Market cover?
The report covers the Green Cement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Green Cement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Green Concrete Industry Report
Statistics for the 2024 Green Concrete market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Green Concrete analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
