The global green cement market is anticipated to grow at a significant CAGR of around 8.5% during the forecast period. Growing infrastructure and construction activities, including bridge construction, underpass construction, sewage construction, and so forth, have increased the demand for green cement in the construction sector. The growing demand for green cement in the construction of factories, distribution centers, and other public infrastructure facilities with low co2 levels, as well as pollution considerations to maintain emission levels and environmental regulations, will drive revenue growth in the green cement market. Apart from these factors, the supportive government policies for green building construction due to increasing concern on greenhouse carbon emission from the production of cement augmenting the demand for eco-friendly or green cement for construction activities. 

The Environmental Action Fund (EAF) offers financial aid to both voluntary and community sector groups to support the Government’s sustainable development projects within England. For this, EAF provided funds of $33.6 million to $1.01 billion up to 3years. Furthermore, the construction sector has a direct connection with several diverse sectors, such as energy, logistics, manufacturing, and so on. Therefore, growth in these sectors will assist in the green cement market growth.  Additionally, China’s belt and road initiative will further propel the market growth during the forecast period.

Impact of COVID-19 Pandemic on Global Green Cement Market

The COVID-19 pandemic had disrupted the operations of various industries across the globe, which had drastically reduced the demand for green cement. The building and construction industry halted their production and construction activities due to the COVID-19 pandemic. The disposable income of individuals also got affected due to the lockdown situation. Therefore, the demand for green cement was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the green cement market started recovery as industrial and construction operations were normalized after the recovery. 

Segmental Outlook 

The global green cement market is segmented based on the product and application. Based on the product, the market is segmented into fly-ash based, slag based, recycled aggregates, and others. Based on the application, the market is sub-segmented into the residential, commercial, and industrial. Among these, the commercial segment is expected to be the fastest-growing in the market owing to the rising demand for green cement for commercial construction such as office buildings, shopping malls, cinema halls, hospitals, restaurants, and others. 

Global Green Cement Market Share by Product, 2021 (%)

The Slag Based Green Cement Segment is likely to Hold significant  Share in the Global Green Cement Market

It is anticipated that based on the product, the slag-based segment will hold a considerable share in the global green cement market during the projected period. Growing demand for slag-based green cement will propel the market growth in this segment. During the mixing process, slag-based green cement emits the least amount of carbon dioxide. Moreover, one of the prime reasons for increasing demand for this product in recent years has been its cost-effectiveness. This type of cement has a relatively simple concentration and higher compressive strength than some other green blocks of cement.

Regional Outlooks

The global green cement market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  Among these, Europe is projected to hold a lucrative share in the global green cement market. The various initiatives are taken by governmental authorities, such as the European Environment Agency (EEA), to promote the adoption of sustainable solutions such as green cement in the construction sector is the prime factor for the market growth. Moreover, in Europe, a significant rise in infrastructure projects through public investments; and residential construction activities have escalated the demand for construction materials, such as green cement, hence driving the market growth. 

Global Green Cement  Market Growth, by Region 2022-2028

The North America Region Dominates in the Global Green Cement Market

Geographically, it is expected that the North American region will have a prominent contribution to the growth of the global green cement market. The US leads the green cement market in North America. Supportive regulations introduced by legal bodies such as the U.S. EPA are significantly promoting the carbon-negative manufacturing process of cement. A significant development in the modern construction industry has surged the potential use of green cement in commercial and industrial buildings in the US. The demand for new houses in the US has been steadily increasing in recent years, due to the country's population growth and rising consumer incomes. Additionally, The US Census Bureau has been granting more permits for the construction of new residential properties in response to the growing trend of multi-family building and the increase in migration to cities. These factors will drive the market growth in the region. 

Market Players Outlook

The major companies serving the global green cement market include CEMEX S.A.B. de C.V.,, Holcim Ltd., Heidelbergcement AG, Italcementi Inc., JSW Cement Ltd., CRH Plc, CarbonCure Technologies Inc., Dalmia Cement (Bharat) Ltd., , NavrattanGreen Cement Industries Pvt. Ltd., Kiran Global Chem Ltd., Nuvoco Vistas Corp. Ltd., Votorantim Cimentos S.A. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Hoffmann Green Cement announced the launch of its fourth low-carbon technology - H-IONA. It is the first low-carbon cement to receive CE certification. The new cement is manufactured within the established production line and releases six times less CO2 than conventional cement concrete, with a carbon footprint of less than 150 kgs per metric tonne. H-IONA is used in a wide range of construction applications, including reinforced or unreinforced cement, industrial buildings, apartment buildings and solitary residences, civil engineering and large infrastructure projects and Others

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global green cement market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.