The rising penetration of green cement in the developing economies of Middle East and Africa, and Asia coupled with the rapidly developing commercial, residential and industrial infrastructures in these regions are proving to be the major drivers for the growth in the adoption of green cement market in the present scenario and the trend is expected to boost the market to propel in the coming years. Additionally, with an objective to reuse and complete utilization of the fly ash and slag, various governments and private organizations are undertaking initiatives to set up cement factories near respective plants. These initiatives help the country and the government to increase industries as well as utilize the residuals of thermal power plants and steel plants, thereby, propelling the fly ash cement segment and slag cement segment in the industrial sector.
Rising Demand for CO2 Reduction is Emphasizing the Demand for Green Cement at a CAGR of 13.3%
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The industries across the globe are continuously engaging themselves in enhancing environmental sustainability and maintain a pollution free zone in the vicinity. The cement industry is one of the major industries in CO2 emission, accounting for more than 5% of global CO2 emission. The key reason behind the emission is the decarbonation of limestone as well as the enormous amount of energy needed to heat the raw materials. Various initiatives have been undertaken by the developed nations and developing economies across the globe in order to manufacture high-class cement with improved energy and reduced CO2 emissions. Several organizations and cement manufacturers are continuously focusing on the development of energy efficient concrete material and lower the CO2 emission percentage. As the demand for commercial, residential and industrial infrastructure is rapidly increasing across the globe, the demand for energy efficient, low carbon content cement is also growing simultaneously. Attributing to these two factors, the fly ash cement, slag cement, limestone calcined clay cement, and recycled aggregates cement among others are gaining substantial prominence in the current scenario.
The leading companies operating in the field of green cement across the globe include LafargeHolcim, Heidelberg Cement AG, Anhui Conch Cement Company Limited, Cemex S.A.B DE C.V, Votorantim Group, China Resources (Holdings) Co. Ltd., Taiwan Cement Corporation, China National Building Material Co., Ltd., Taiheiyo Cement Corporation, and Ecocem among others. Various other companies are also operating in the market and are coming up with new technologies and offerings which is helping the market for green cement to expand over the years in terms of revenue and subscription.
The global green cement market is segmented on basis of types, and end users. The slag segment is the most prominent green cement across geographies, pertaining to the increased strength, workability enhancement, permeability reduction, improved performance, and increased durability among others. These advantages of the segment are the major drivers for the segment to exhibit a prime growth rate during the forecast period from 2018 – 2025. Geographically, the market for green cement is largely dominated by Asia Pacific region, owing to the huge availability of raw materials required for preparing green cement. Another factor boosting the market for green cement in the region is the rise in population in Asia Pacific countries, which demands more residential areas. However, the market for green cement is foreseen to be tending towards the European market during the forecast period, due to various government initiatives and an increase in manufacturing facilities.
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