Transparency Market Research (TMR) recently published a new report titled "Green Cement Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024." According to the report, the global green cement market was valued at $14.8 billion in 2015 and is anticipated to reach $38.1 billion by 2024, expanding at a CAGR of 11.3 percent between 2016 and 2024.
The rise in construction and building activities is the primary growth driver for the global green cement market. The demand for green cement is being accelerated by an uptake of alternative fuels derived from waste materials such as foundry sand, used oil, sewage sludge, solid recovered fuel, filter cake, animal meal and fly ash. The urgent need to cut down carbon emissions is encouraging usage of these fuels. The market is also gaining an impetus from governments, which are promoting green architecture to ensure sustainable building.
On the basis of application, the global market is segmented into non-residential, residential, and infrastructure sectors. Analysts project that the residential sector will lead the global market in the coming years due to growing density of the population in all urban regions. This has raised the demand for residential projects, which, in turn, has augmented the growth of the global green cement market. Furthermore, the growing infrastructural development in several emerging economies is also likely to favor the demand for green cement in the coming years.
The top five players in the global green cement market held 51 percent share in the overall market in 2015, noted TMR. These leading players are HeidelbergCement, China National Building Material, LafargeHolcim, Cemex and Taiheiyo Cement Corp. The companies have focused on strategic mergers and acquisitions to expand their capacity, observed TMR, adding that “Persistent focus on technological developments and product differentiation to add value to products are expected to be one of the winning strategies of these companies.”
The “Green Cement Market” report can be purchased here.