Stratview Research has published a new report titled “Green Cement Market” which is segmented by Product Type (Fly ash Based, Slag Based, Recycled Aggregates, and Others), by Application Type (Residential, Commercial, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was estimated to grow from US$ 699.31 Million in 2021 to US$ 1016.5 Million by 2028 at a CAGR of 5.4% during the forecast period of 2022-2028.
Green Cement is a cementitious material, that meets or exceeds the functional performance capabilities of ordinary Portland cement by incorporating and improving recycled materials, thereby reducing the consumption of water and natural raw materials resulting in a more sustainable construction material.
Green Cement is of different types, such as fly ash-based, slag-based, recycled aggregates, and others which provide its service in various applications, such as residential, commercial, and others.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Product Type
The Fly Ash-Based segment held the largest share more than 39.5% of the market in 2021 and is expected to remain dominant.
The market is segmented as fly ash-based, slag-based, recycled aggregates, and others. Fly ash-based green cement provides cost-effective products, which is one of the primary reasons for its growing demand in recent years. The composition of these types of cement is comparatively simple with better compressive strength than other green cement, which is driving the growth of the segment.
By Application Type
The Commercial segment held the largest share more than 4.4% of the market in 2021 and is expected to remain dominant.
The green cement market is segmented as residential, commercial, and others. Progressive infrastructure advancement is one of the key factors responsible for the increasing demand for green cement in commercial applications. Improvement in the emerging construction industry will inflate the segment’s growth. Also, construction activities in various South Asian countries, such as Thailand, India, Vietnam, China, and Thailand, are driving the segment’s growth.
Which Region is expected to remain the largest market?
Asia-Pacific is estimated to be the largest as well as the fastest-growing market for green cement.
Asia-Pacific generates maximum revenue compared to any other region due to growing infrastructure and construction activities in emerging economies. ASEAN countries, such as Malaysia, the Philippines, and Thailand have shown recent significant investments in the construction segment through various public projects such as seaports, transports, and power, which is underpinning the region’s market. North America and Europe are expected to offer substantial growth opportunities.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, enabling strategic decision-making for the existing market players and those willing to enter the market. The following are the key players acting in the Green Cement Market:
- Lafarge Holcim
- Heidelberg Cement AG
- Anhui Conch Cement
- CEMEX S.A.B. de C.V.
- Taiheiyo Cement Corporation
- China National Building Material
- Votorantim Cimentos S.A.
- UltraTech Cement Ltd.
- Taiwan Cement Corporation
- ACC Limited
Key questions answered by the report.
- What is the projected CAGR for revenue from the Green Cement Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Green Cement Market?
- Which are the major market players?
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