According to the latest report published by Credence Research, Inc. “Global Green Cement Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global green cement market accounted for US$ 18.06 Bn in 2017, expanding at a CAGR of 10.2% from 2018 to 2026.
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The global green cement accounted for US$ 18.06 Bn in 2017 growing with a CAGR of 10.2% during the forecast period from 2018 to 2026. Green cement is an eco-friendly substitute that is basically used in place of traditional cement. It aims to lower carbon emissions at construction sites. There is no fixed method or formula to produce green cement.
However, manufacturers are focusing on research and development activities to manufacture green cement by adopting innovative technologies. For example, Calera Group, based in California developed a Portland cement substitute. This substitute basically contains calcium carbonate that is obtained from seawater and is mixed with carbon dioxide.
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The green cement market is mainly driven by growing need to cut down on emissions and using green fuel. Increase in greenhouse gas emission resulted in the increasing concern of various agencies that includes United Nations(UN) thereby recommending green cement across the globe. Trend shows that there has been increase in number of building and construction activities.
This coupled with increasing awareness towards green building concept is propelling the growth of this market during the forecast period. The demand for green cement is also expected to rise owing to the growing demand of alternative fuel derived from various waste materials that includes fly ashes, foundry sand, solid recovered fuels, animal meals, filter cakes, used oil and sewage sludge among others. Green cement is mainly used in the construction activities owing to the fact that it uses less water and provides good thermal insulation.
In addition, it also provides fire resistance to the buildings. Green cement also aims to safeguard buildings from sulphate attacks caused due to water or moisture thereby providing protection against corrosion. Hence, growing application in the construction industry is acting as a driving factor in the growth of global green cement market during the forecast period. Various government initiatives that aims at encouraging green architecture and sustainable building is also expected to bolster the market demand for green cement.
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The global green cement market has been segmented by product type, end-user industry and geography. In 2017, slag based green cement segment dominated the global green cement market by product type. Manufacturers are focusing on mergers and acquisition and new product development as key strategies to expand their slag based green cement market which in turn drives the market demand of this segment during the forecast period. In April 2018, ArcelorMittal S.A, based in Luxembourg, focusses on increasing its stake in Ecocem France from 30 % to 49% .Ecocem deals with slag cement and this increase in stake will enable ArcelorMittal S.A to expand its slug based green cement market in France.
In addition, Butra HeidelbergCement (BHC) launched a green cement under its brand name 52.5 Brunei Cement. This is basically a mixture of gypsum, clinker and slag. This new product launch will facilitate the company to expand its product portfolio of slag based green cement to cater to the growing demand of green cement market globally. In 2017, residential segment held the major share in the global green cement market by end-user industry.
Growing density of population followed by increasing demand for residential projects worldwide is expected to bolster the market growth of this segment during the forecast period. By geography, Europe accounted for a significant share in the global green cement market owing to stringent government regulations pertaining to carbon emissions followed by rising penetration of green cement in construction industry in U.K, Spain and France.
Key market players in the global green cement market include BASF SE, CarbonCure, Taiwan Cement Corporation, CEMEX, Votorantim cimentos S.A., China National Building Material (CNBM), Zuari Group, LafargeHolcim, Calera, Heidelberg Cement, Anhui Conch Cement, Siam Cement Public Company (SCG), UltraTech Cement Ltd., Navrattan Blue Crete Industries Pvt. Ltd. and Kiran Global Chems among others.