The company has published a research report titled “Green Cement Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”.
Albany, NY -- (SBWIRE) -- 03/08/2017 -- The leading five players held a 51% share in the global green cement market in 2015, notes a recent market study by Transparency Market Research. The key leading players are Heidelberg Cement AG, Lafrage S.A., Taiheyo Cement Corporation, China Building Material, and CEMEX S.A.B. de C.V. Mergers and acquisitions for capacity expansion is the focus of key players in this market, says a TMR analyst. "Continual focus on technological advancements and product differentiation are the sought-after winning strategies of these companies," says the lead author of the study.
The global green cement market is projected to reach a valuation of US$38.10 bn by 2024 increasing from US$14.80 bn in 2015 at a CAGR of 11.3% therein.
Asia Pacific to Remain at Forefront Due to Booming Construction Sector
In terms of application, residential sector is expected to lead the market due to the growing population density in urban areas. The increasing demand for residential projects is expected to propel growth of the global green cement market.
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On the basis of geography, Asia Pacific is expected to acquire a share of 31.1% by 2024 increasing from 26.8% in 2015, owing to growth of the construction industry in the region. The region will experience a surging demand for green cement due to fast-paced urbanization and rapid industrialization. The mounting demand for residential and non-residential buildings is expected to propel the demand for green cement across the region. In this region, the rising need for infrastructural development in developing countries combined with increasing enforcement of mandates for green solutions are the key drivers for the increasing demand for green cement in the non-residential segment.
The market share of North America green cement market is expected to decline during the forecast period, due to the limited usage of cement in the residential sector. Europe share in the global green cement market is also expected to decline between 2015 and 2024 due to stringent regulations for carbon emissions and the growing apprehensions about taxes that could be levied on industrial emissions.
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Demand for Green Alternatives to Reduce Carbon Footprint Drives Growth
The booming construction activities, which includes construction of residential buildings, non-residential buildings, and infrastructural development is the primary factor driving the growth of the global green cement market. The demand for green cement is increasing due to the uptake of alternate fuels that are derived from waste matter such as used oils, solid recovered fuels, foundry sand, filter cakes, fly ashes, and animal meals. Moreover, the need of the hour to cut down carbon emissions is promoting the use of these fuels. Several governments around the world are also encouraging green architecture for sustainable development, which receives a certification under Leader in Energy and Environment Design (LEED).
The use of green cement also safeguards buildings from heat stress and sulfate attacks due to contact with water and moisture. Green cement offers superior resistance for residential as well as commercial construction projects due to low alkali concentration as compared to ordinary Portland cement (OPC), which is expected to play a significant role in the market's growth. In several parts of the world, developmental projects, which include construction of pavements and bridges, infrastructural developments, and nuclear power plants are expected to extend a plethora of growth opportunities to the market.
The growth of the green cement market faces certain restraints as well. The strength of green cement is entirely dependent on the type of industrial waste utilized during the manufacturing process, thus it has been debatable amongst several end users. For example, use of low calcium fly ashes compromises the strength in early stages in comparison to OPC.
The global green cement market has been segmented as follows:
Green Cement Market – Product Type Analysis
- Fly ash based
- Slag based
Green Cement Market – Application Type Analysis
The review presented is based on the Transparency Market Research report, titled "Green Cement Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."