According to the new research report published by The Insight Partners, titled “Green Cement Market - Global Analysis and Forecast to 2025”, the global green cement market is expected to reach US$ 42.73 billion in 2025, registering a CAGR of 13.3% during the forecast period 2018-2025.
The most prominent region in the green cement market accounted for Asia Pacific, pertaining to huge availability of raw materials required for preparing green cement. Another factor boosting the green cement market in the region is the rise in population in Asia Pacific countries, which demands more residential areas. Also, the developing economies of APAC are experiencing a tremendous growth in their FDIs for infrastructure and construction sector. This factor is helping the green cement market to soar over the years. For instance, the Indian government has introduced new FDI policy in 2017 under which several amendments have been done such as the RBI has announced 100% FDI under automatic route for the development of construction development sector. This limit was introduced in December 2014. Also, the Indian government relaxed FDI rules in the construction sector by reducing minimum capital requirement as well as built-up area. The government has also liberalized the exit norms. Such regulations will attract more FDI in these countries thereby, increasing the infrastructure investments, which directly impacts the green cement market. However, the green cement market is foreseen to be tending towards the European market during the forecast period, due to various governmental initiatives and increase in manufacturing facilities.
The market players present in green cement market are mainly focusing towards product enhancements by implementing advance technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company maintain its brand name globally. Most of the market initiative were observed in Asia Pacific, North America, Europe regions, which have high density of green cement related products and solutions. In 2018, China Resources Cement Holdings Limited and Siemens Entered into Strategic Co-operation Agreement; 2018, LafargeHolcim’s UK company Aggregate Industries awarded contract to deliver pavement solutions to Highways England; and in 2017, HeidelbergCement’s subsidiary Norcem and the Spanish-Italian contractor consortium Acciona Ghella JV (AGJV) signed an agreement for the cement supplies to the Follo Line Project in Oslo.
Key findings of the study:
- Europe is anticipated to account for the highest growth rate during the forecast period from 2018 – 2025, registering a growth rate of 16.0%.
- Based on the type, slag dominate the market throughout the forecast period.
Countries in Asia Pacific region namely China and India are experiencing significant rise procurement of green cement in the recent scenario, and the two countries are also expected to create enough market space for green cement market.
The global green cement market is a highly fragmented and evolving market worldwide. As leading companies in this market continues to broaden their addressable market, by expanding its current product portfolio, diversifying its client base, and developing new products and markets, all the prominent players faces an increasing level of competition, both from start-ups as well the leading global industrial companies in the world. The leading companies operating in the field of green cement across the globe include LafargeHolcim, Heidelberg Cement AG, Anhui Conch Cement Company Limited, Cemex S.A.B DE C.V, Votorantim Group, China Resources (Holdings) Co. Ltd., Taiwan Cement Corporation, China National Building Material Co., Ltd., Taiheiyo Cement Corporation, and Ecocem among others.
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