Green Cement Market | Opportunities, Business Growth, Comprehensive Analysis, Co
Posted by Marketresearchfuture on March 19th, 2020
The global green cement market is expected to get doubled at a CAGR of 15% between 2017 to 2023 as sustainability becomes a priority for the construction industry. This figure has been taken from the reports of Market Research Future Reports.
Green cement is known as an eco-friendly substitute than conventional cement. The demand for it in the construction industry has increased since some years owing to its property of reducing carbon emissions at construction sites, which is estimated to go to 40%. There is no definite formula or chemical combination to create green cement. However, with the help of various researches and the presence of a key market, players have developed multiple ways to manufacture green cement. It has gained much traction since past years, and it is estimated that the global green cement market will flourish tremendously in future and will gain more traction in the years to come.
The process to produce conventional cement is the primary concern for spreading of carbon dioxide pollution and other harmful air pollutants. Thus, green cement is the critical material for such a problem, which is manufactured with a different process.
Global Green Cement Market: Drivers & Trends
The global green cement market is chiefly driven by factors such as an increase in constructional activities and promotion of strict government rules and regulation regarding eco-friendly products. Thus, the eco-friendly nature of green cement is tremendously influencing the end users to adopt, thereby, fueling the green cement market growth in positive ways.
On the other hand, the rising demand of commercial constructions which includes infrastructure, industrial, residential and non-residential buildings such as shopping malls, office spaces, theaters and museums, hospitals and administrative buildings will also drive the green cement market growth till 2023. On the global note, there is a steady growth in the demand for green cement owing to the government initiatives for affordable housing, low-interest rates for home loans, and the global rise in infrastructure spending. With that, factors such as the growth in population and multifamily housing projects in developing regions are also supporting the growth of the construction industry in magnificent ways.
As per the research, economic development and rapid urbanization in developed regions are also increasing the demand for new construction, which involves green cement. Even disruptive trends around the construction industry can create new opportunities to accelerate the growth green cement market. 3D printing is one example of a disruptive technology, which is used as an alternative for constructing houses without any need for concrete. These factors are thus finding the global green cement market expanded rapidly during the forecast period.
Green Cement Market Segmentation
In the reports of MRFR, the global Green Cement Market has been segmented based on application and product type.
By the mode of application, the market has been segmented by residential, non-residential, and industrial.
By the mode of product type, the market has been segmented by fly ash based, slag based, geopolymer, and others.
Global Key Players
On a geographical note, the North America region is probable to lead the green cement market owing to the incidence of stringent rules and regulations regarding the GHG emissions by the government authorities of the region. Whereas, the Asia-Pacific region is also expected to flourish stably, owing to the rapid industrialization and urbanization in the region. Therefore, the increasing number of construction activities along with the growing alertness for green cement is likely to contribute to the growth of the market.
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