Green cement: Key market research findings
- Initiatives to reduce CO2 emissions drives the market’s growth
- The Americas account for the majority share of the market
- Key vendors—Anhui Conch Cement, CEMEX, CNBM, Italcementi, and LafargeHolcim
Technavio’s market research analysts estimate the global green cement market to grow at a CAGR of almost 15% between 2016 and 2020. The market is driven by the increase in awareness about the side effects of cement manufacturing. Cement consists of very fine, cancer-inducing particles that are easily inhaled by people working in the cement manufacturing units as well as those residing around such units. Furthermore, the manufacturing of cement also causes CO2 emission and is linked to issues such as climate change, natural resource depletion, and air and water pollution. As a result, strict regulatory standards are being implemented in several countries across the globe. In 2015, the Americas dominated the global green cement market by accounting for a market share of around 37%. Regulations pertaining to greenhouse gas (GHG) emissions in the US, the booming cement market in Brazil, and an increase in demand for cement in Central and South America are factors that will drive growth in the green cement market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the green cement segments based on end-use.
“The latest trend in the global green cement market is the use of waste materials as an alternative fuel (AF). The use of wastes such as used tires, solid recovered fuels, used oils, sewage sludge, foundry sands, fly ashes, and filter as AF instead of coal in cement kilns can reduce the level of CO2 emission in the production process. Besides, cement kilns make more efficient use of the calorific value of waste material than individual waste incinerators,” Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
In 2015, the residential segment accounted for the majority stake in the global green cement market with a share of around 52%. This segment of the market is projected to showcase further growth during the forecast period and is expected to reach around 144 million metric tons by 2020. The decline in family household size and a rise in the growth rate of residential projects in urban regions are factors that will boost the residential vertical of the global green cement market in the coming years.
The key vendors in the global green cement market include Anhui Conch Cement, CEMEX, CNBM, Italcementi, and LafargeHolcim. The market is fragmented with the presence of global and regional players. The global players dominate this market making it difficult for the local vendors to sustain especially in terms of innovation and prices. The key vendors are focusing towards technological advancements and mergers and acquisitions and are expected to expand inorganically by obtaining regional or small local players during the forecast period. Competition in the market is expected to intensify with the introduction of many innovative manufacturing processes.
A more detailed analysis is available in the Technavio report, Global Green Cement Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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