Green Cement Market to Reach US$38.10 Billion by 2024; Backed by Constant Research and Development Activity - TMR

ALBANY, New York, March 12, 2019 /PRNewswire/ -- The competitive landscape of the global green cement market is consolidated in nature, finds Transparency Market Research (TMR). This is mainly because key players hold a major portion of the market's share. Top players in the global green cement market are focusing on strategic alliances to expand their market presence. Some of the key players operating in the global green cement market are Heidelberg Cement AG, China National Building Material, Lafarge S.A., CEMEX S.A.B. de C.V, and Taiheiyo Cement Corporation. These companies collectively hold 51% of market share.

According to a research report by TMR, the global green cement market is anticipated to reach a valuation of US$38.10 bn by the end of 2024. The market is estimated to rise at healthy CAGR of 11.3% between 2016 and 2024. The analyst noted the green cement market at US$14.80 bn in 2016.

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On a geographical standpoint, Asia Pacific is projected to gain momentum in the near future. This is mainly because of the increasing constructional and building activities in the region. On the basis of applications, residential sectors could lead the green cement market owing to the rising migration in urban regions.

Green Cement Market to Propel Owing to Less Carbon Emission Property

Cement is an essential element for building construction. Increasing demand of cement has an adverse impact on environment. Because of this, several environmentalists and government bodies oppose use of traditional cement in constructional singular plural. This increases the demand for green cement owing to its environmental friendly property. The rising adoption of green cement in residential and commercial applications is a major factor driving growth of the global green cement market. Apart from this, increasing urbanization & industrialization are also projected to fuel the green cement market.

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Additionally, rising government initiatives in favor of green architecture under energy and environment design (LEED) are anticipated to pose a positive impact on the growth of the green cement market. Apart from this, rising price of fossil fuels across globe is another factor increasing the demand of green cement. This has increased the inclination of builders from traditional concrete to green cement.  Owing to this, use of green cement has increased the number of constructions such as bridges and pavements, nuclear power plants, and other infrastructure projects in the last few years.

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Less Availability of Techniques to Control Product Quality Hinders Growth

The strength of green cement particularly depends on the type of industrial waste used for the manufacturing processes. Hence, this strength varies from material to material. For instance, the use of low calcium fly ashes result in lower strength and such building projects could lead to failure. This lack of authorizing bodies to define strength certainty of green cement is the biggest challenge in the growth of the global green cement market.  However, increasing innovations and up gradations of raw materials backed by research and development activity being carried out by the market player holds lucrative avenue for the growth of the global green cement market.

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This review is based on Transparency Market's Research report, titled "Green Cement Market (Product - Fly Ash-based, Slag-based, and Geopolymer; Application - Residential, Non-residential, Industrial, and Infrastructure) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

The global green cement market has been segmented as follows:

Product

• Fly ash based
• Slag based
• Geopolymer
• Others

Application

• Residential
• Non-residential
• Industrial
• Infrastructure

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SOURCE Transparency Market Research