Green Cement Market is Projected to Expand at a 11.3% CAGR From 2016 - 2024

Posted by pranav suryawanshi on October 10th, 2019

Manufacturing and using Ordinary Portland Cement (OPC) leading to 5%-10% carbon dioxide emissions as it is known to contain toxic ingredients such as silica and chromium. Furthermore, the growing awareness about the environmental hazards of OPC production as it requires high temperature for kiln operation is also raising questions about its consumption. Thus the fact that OPC production emits a high volume of carbon dioxide and greenhouse gasses has forced several builders, governments, and architects to opt for greener solutions. Owing to these reasons the demand for green cement has soared in the past few years. According to the research report, the opportunity in the global green cement market is expected to be worth US.10 bn by the end of 2024 as compared to US.80 bn in 2016. Between the forecast years of 2016 and 2024, the global market is projected to exhibit a CAGR of 11.3%.

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• Benefits of Green Cement Presenting Lucrative Opportunities

The demand for green cement is anticipated to witness a spike due to its own benefits. This type of cement is known for reducing the carbon footprint by about 40-50% during its production process. The main reason for the rising uptake of green cement in growing number of construction activities is the fact that it uses less water. Additionally, it provides excellent thermal insulation and superior fire resistance, which enables structures built with green cement to withstand temperatures up to 2400F. As green cement is known to offer unmatched insulation, it also makes the building resistant to moisture, thereby offering it a good protection against corrosion as well.

The information Presented in this Review is Based on Press-Release by TMR

• Infrastructural Development in Emerging Economies Augments Demand

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.