Green cement market projected to grow
The global green cement market is expected to more than double in the next several years, according to research.
A Transparency Market Research report puts the industry’s value at $38.10 by the end of 2024, up from $14.8 billion in 2015. Those figures represent an annual growth rate of 11.3 percent.
“Persistent focus on technological developments and product differentiation to add value to products are expected to be one of the winning strategies,” according to the report.
The rise in construction and building activities is the primary growth driver for the global green cement market. The demand for these types of cement is being accelerated by uptake of alternative fuels derived from waste materials such as foundry sand, used oils, sewage sludge, solid recovered fuels, filter cakes, animal meals, and fly ashes. The need to cut carbon emissions is encouraging usage of these fuels. The market is also gaining an impetus from governments, which are promoting green architecture to ensure sustainable building, which is certified under Leader in Energy and Environment Design (LEED).
The demand for green cement is also soaring as it is known to safeguard buildings from sulfate attacks and heat stress caused by water and moisture. The superior resistance offered by green cement to several commercial and residential construction projects, as it contains lesser alkali compound in comparison to OPC, is also projected to play an important role in the market’s development.
The top five players in the global green cement market held more than half – 51 percent – the share of the overall market in 2015. Those companies were Heidelberg Cement AG, China National Building Material, Lafarge S.A., CEMEX S.A.B. de C.V. and Taiheiyo Cement Corp.
These companies, Transparency Market Research said, have been focused on strategic mergers and acquisitions to expand their capacity.
Out of all the geographical regions, Asia Pacific is estimated to acquire a share of 31.1 percent in the global market, due to increasing construction activities. The Asia Pacific green cement market will also experience a surge in demand, due to the rapid industrialization and fast-paced urbanization.
The rise in the number of residential and non-residential activities is expected to drive the demand for green cement across Asia Pacific. The growing need for infrastructural development in emerging economies and the pressure to use green solutions for the same will be the key factors determining the demand for green cement in the non-residential segment.
Topics: Architectural Firms, Building Owners and Managers, Construction Firms, Consulting - Green & Sustainable Strategies and Solutions, Engineering Firms, Environmental Firms, Exteriors, Great Commercial Buildings, Insulated Concrete Forms (ICF), Sustainable Communities, Sustainable Trends and Statistics, Urban Planning and Design