Green Cement Market was valued at USD 19.8 billion in 2021 and is forecast to touch USD 31.0 billion in 2029, and the market is expected to grow at a CAGR of 5.8% from 2022-2029.

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Key Drivers

Factors driving growth of market includes increasing application of green cement in the residential and commercial projects, growing concerns related to greenhouse gas emissions and global warming, strict environmental regulations imposed by governing bodies and improvements in the living standards. As per McKinsey’s report, construction industry represents 25% of the global greenhouse-gas emissions (GHG), concrete emerged as the largest contributor, constituting around 4.5% of the global GHG and 7% of the CO₂ emissions in 2019, which is expected to push the demand for green cement products in the approaching years. Green cement offers remarkable benefits such as enhanced thermal insulation and fire resistance, magnificent resistance to alkali attack during weather change and reduces carbon footprint by 40-50% during production, which are expected to generate tremendous opportunities in the market.

Moreover, growing awareness about the environmental hazards of producing Ordinary Portland Cement (OPC), subsidies provided by Governments on the production of green cements, conferences organized by United Nations to raise awareness about the impact of climate change, are some of the additional factors supplementing the Green Cement Market size. For instance, at the Conference of the Parties (COP) 26 Summit organized by the United Nations, India pledged to cut its emissions to become carbon neutral by 2070, whereas China presented its plans to become carbon neutral by the end of 2060, which is expected to boost the demand for green cement in the near future. In addition, the increasing investments by leading players on research and development, strategic partnerships between leading companies, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth. However, uncertainty in the class of green cement is estimated to hamper the market growth across the globe.

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Product: Segmentation Analysis

Based on Product Type, Fly-ash Based segment is predicted to grow at a significant CAGR during the forecast period. Fly-ash based green cement boosts the workability of plastic concrete, enhances strength and durability of hardened concrete and are cost-effective along with its pozzolanic properties, are some of the factors pushing growth of the segment.

Application: Segmentation Analysis

Based on Application, Residential segment is projected to expand at a remarkable CAGR over the forecast period. Growing demand for environmentally secured building and rapid growth in the real estate industry and increasing pace of urbanization in the developing countries, are some of the factors propelling the segment’s growth. In addition, the easy availability of fly-ash, Government policies regarding the development of sustainable infrastructure and requirement of substitute fuels from recycling of waste and renewable resources, are further boosting the segment’s growth.

On the other hand, Commercial segment is projected to grow at a robust CAGR during the forecast period. The increasing application of green cement in the construction of office buildings, exterior walkways, shopping malls and theatres, is pushing segment’s growth. In addition, benefits offered by green cement such as enhanced resistance to extreme weather conditions, higher strength, and short setting time, will further accelerate the segment’s growth.

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Regional Analysis

Based on Region, North American region is expected to expand at a faster CAGR over the forecast period. Strict regulatory framework, growing concerns related to climate change across United States and Canada, rapid growth in the real estate industry and high per capita incomes, are some of the factors pushing the market growth in North America. For instance, the revenue generated by the Real Estate Industry across United States is predicted to reach USD 370 billion by the end of 2022, expanding at a CAGR of 3.71% over the forecast period (CAGR 2022-2025), which will boost the demand for green cement in North American region in coming few years.

As per the Green Cement Market Analysis, Asia-Pacific region is anticipated to expand at a higher CAGR during the forecast period. Presence of the leading players such as Taiwan Cement Corporation, UltraTech Cement Ltd., and Taiheiyo Cement Corporation, rising focus on reducing carbon dioxide emissions, increase in Government’s expenditure on the construction of infrastructure projects and high population growth rates, are further augmenting the market growth in Asia-Pacific region.

Top Market Players

Various notable players operating in the market include CEMEX S.A.B. de C.V. (Cemex), Heidelberg Cement AG, Lafarge Holcim, Taiheiyo Cement Corporation, Taiwan Cement Corporation, Ecocem Ireland Ltd., ACC Limited, UltraTech Cement Ltd., Calera Corporation, and Ceratech In, among others.

Key Developments:

• • In June 2022, UltraTech Cement a part of a part of Aditya Birla Group, decided to invest INR 12,886 crores towards 22.6 MTPA capacity expansion at USD 76 per tonne of cement.
  • CeraTech Inc., entered into a license agreement with CeraTech ME&A, Ltd., separately owned and operated company, in which it grants ME&A the absolute rights to manufacture, market, and sell CeraTech’s highly durable and environment friendly cements.
  • CEMEX publicized its expansion plan to expand its cement production capacity at CEMEX’s Jamaica cement plant by up to 30%. As per the plan, CEMEX will complete the first phase of this expansion during 2024, with an investment worth USD 40 million.
  • In January 2021, LafargeHolcim (LHN.S), the world’s leading cement maker, decided to acquire Firestone Building Projects from Japan’s Bridgestone Corporation (5108.T) for USD 3.4 billion.
  • Holcim launched DYNAMax, the ultimate performance concrete, delivering high strength, durability and rigidity with design freedom and sustainability, this product will be launched in nearly ten markets across Europe, Latin America, North America, and Asia Pacific by the end of 2022.

Segments covered in the Report:

The global Green Cement market has been segmented on the basis of Product, Application, and regions. Based on Product, the market is segmented into Fly-Ash based, Slag-based, Recycled Aggregates, and Others. Based on Application, the market is segmented into Residential, Commercial, and Others. 

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Key questions answered in this research report:

• • At what pace is global Green Cement market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Green Cement market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Green Cement market?
  • Which product generated maximum revenues in 2021 and identify the most promising products during the forecast period?
  • What are the various Application areas of global Green Cement market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 19.8 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Product, By Application, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	CEMEX S.A.B. de C.V. (Cemex), Heidelberg Cement AG, Lafarge Holcim, Taiheiyo Cement Corporation, Taiwan Cement Corporation, Ecocem Ireland Ltd., ACC Limited, UltraTech Cement Ltd., Calera Corporation, and Ceratech In, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Green Cement market by Product Type

• • Fly-ash Based
  • Slag Based
  • Recycled Aggregates
  • Others

Global Green Cement market by Application

• • Residential
  • Commercial
  • Others

Global Green Cement Market by Region

• • North America Green Cement Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Application
    • US Green Cement Market All-Up
    • Canada Green Cement Market All-Up
  • Europe Green Cement Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Application
    • UK Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Green Cement Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Green Cement Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Green Cement Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • CEMEX S.A.B. de C.V. (Cemex)
  • Heidelberg Cement AG
  • Lafarge Holcim
  • Taiheiyo Cement Corporation
  • Taiwan Cement Corporation.
  • Ecocem Ireland Ltd
  • ACC Limited
  • UltraTech Cement Ltd
  • Calera Corporation
  • Ceratech Inc