The Green Cement Market size USD 851.5 million in 2018 is expected to grow over the CAGR of around 16% from 2020 to 2030.Market Research Future (MRFR) analyzes several factors that can boost the market prospect in the coming years. Among these, the use of reusable products to lessen the count of waste, low requirement of natural resources, need of less water, and others are expected to make a better scope for the market to expand its business. The product is eco-friendly and countries with strict laws to protect the environment are expected to boost the global market. Its rise will be substantial in North America and Europe.
The global green cement market, as discussed in the report of MRFR by their experts, has been segmented on the basis of application and product type. Such a close look at the market that reveals several factors and dynamics that can change the market positions are expected to boost the global decisions regarding various strategies.
By product type, the global market for green cement has been segmented into residential, non-residential, and others. The products are in several ways better than the Portland standard, owing to which the intake in the residential and non-residential sectors would gain tailwinds.
By product type, the global report on green cement can be segmented into fly-ash-based, slag-based, geopolymer, and others. The fly-ash-based segment is expecting thrust as the availability of the component is quite easy.
North America would dominate the global market for green cement as the region is getting traction from several production companies and their latest innovations. Constant funding for new research works and promotion of the product is expected to boost the scope for growth. In the US and Canada, stringent regulations are expected to play major roles in taking the market forward.
In Europe, the regional market would gain significant traction from several countries as their adherence to strict environmental laws is commendable. These countries are France, Germany, Spain, Italy, the UK, and others. In Asia Pacific, hike in construction activities in China and India, and better promotion are expected to boost the regional market.
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What is green cement market has several positive aspects that can boost its growth prospects. Among them, the growing competition between participating companies is expected to play a crucial role. These companies are Taiheiyo Cement Corporation (Japan), HeidelbergCement AG (Germany), LafargeHolcim Ltd. (Switzerland), Ecocem Ireland Ltd. (Ireland), Taiwan Cement Corporation (Taiwan), Calera Corporation (U.S.), ACC Limited (India), UltraTech Cement Ltd (India), Solidia Technologies, Inc. (U.S.), Ceratech, Inc (U.S.), Cenin Cement (U.K.), and others. Mergers, joint ventures, acquisitions, and other traditional methods are expected to be an effective part of various strategies. In addition, rising investment in the research and development sector can boost market growth. This will create opportunities for companies to launch new products and increase their market presence. MRFR recorded the recent moves of these companies to get the feeling of the market and the way things are shaping up for the market.
In April 2020, Navrattan Group announced that they are about to launch their green cement in the Indian market. This step will help them to cover substantial grounds in the coming years as the rising awareness regarding eco-friendly products are expected to provide tailwinds. The product has no limestone owing to which there is no requirement for the energy-extensive calcination process. The product also uses reusable materials as major components, which boosts its presence as an eco-friendly material.
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