Green Cement Market size was valued at USD 36.29 billion in 2023 and is set to cross USD 131.34 billion by 2036, registering more than 10.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of green cement is evaluated at USD 39.31 billion.
The growth of the green cement market can be attributed to the increasing adoption of green construction practices, combined with massive increase in construction activities to support the growing population. According to the data by the International Energy Agency, buildings construction is responsible for over 33% of global final energy consumption, and 40% of the carbon dioxide emissions. The green construction initiatives are being extensively adopted owing to the rising environment awareness regarding pollution caused by various construction activities, including production of cement. Energy consumption accounts for around 20 to 40% of production costs of cement, as more than 2oo kg of coal is used to manufacture 1 ton of cement. On the other hand, green cement is produced by recycling waste material, such as, fly ash, or silica fumes, which makes the concrete environment friendly. Such factors are estimated to boost the market growth. Furthermore, green concrete offers greater strength and resistance against weather conditions and other damages, which is also expected to propel its demand over the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.4% |
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Base Year Market Size (2023) |
USD 36.29 billion |
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Forecast Year Market Size (2036) |
USD 131.34 billion |
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Regional Scope |
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The market is segmented by application into mass construction, bridges and roads, and others, out of which, the mass construction segment is anticipated to hold the notable share in the global green cement market over the forecast period on account of high strength delivered by green cement, which is required for mass construction projects, such as, dams, retaining walls, and drains. Moreover, a large quantity of cement is required for such massive projects, and use of traditional cement can negatively impact the environment. This is why, the use of green cement is popular for larger construction.
Our in-depth analysis of the global market includes the following segments
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By Product |
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By Application |
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By End-User
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On the basis of geographical analysis, the global green cement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific is estimated to hold largest revenue share by 2036, on the back of increasing construction activities to accommodate the growing population, along with rising government initiatives to curb the pollution levels.
North America Market Analysis
The green cement market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing environment concerns amongst the population as well as the government authorities. The adoption of green construction practices in the developed countries, backed by presence of major market players are estimated to boost the market growth. According to the data by the U.S. Green Building Council, buildings are responsible for around 40% of the CO2 emissions in the United States.
March, 2021: Taiheiyo Cement Corporation to set up a new production line at Taiheiyo Cement Philippines starting from April, 2021.
March, 2020: Calera Capital announced the acquisition of Thayer Power & Communication, to upgrade services for the utility and telecommunications industries.
Author Credits: Rajrani Baghel
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