Lower Carbon Cement Market size was valued at USD 1.82 billion in 2023 and is likely to reach USD 7.32 billion by 2036, registering around 11.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of lower carbon cement is estimated at USD 1.98 billion. The growth of the market can be primarily attributed to the need to combat climate changes, giving rise to the usage of sustainable products that cause less harm to the environment. Along with these, rapidly growing urbanization and increasing construction activities across the globe are projected to offer abundant growth opportunities to the market in the near future. According to the United Nations Conference on Trade and Development (UNCTAD), by 2019, the share of urban population in the world increased to 55.7, up from 51.1 percent in 2009. The rate was highest in developed regions, accounting for 80.5 percent of the population. Furthermore, government efforts to reduce carbon dioxide emissions across the globe, and rising development of net zero buildings are also expected to significantly drive market growth in the upcoming years.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.3% |
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Base Year Market Size (2023) |
USD 1.82 billion |
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Forecast Year Market Size (2036) |
USD 7.32 billion |
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Regional Scope |
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The market is segmented by type of product into recycled aggregates, fly ash based, slag based, limestone based, and others, out of which, the recycled aggregates segment is anticipated to hold the largest share in the global lower carbon cement market. This can be accounted to the rapidly growing urbanization which is elevating the use of recycled aggregate concrete for construction projects, landscaping and home improvements. Apart from this, this type of cement is highly reliable, safe to use, and conserves landfill space, which is also expected to boost the growth of the market segment in the years to come. Additionally, on the basis of application, the residential segment is predicted to acquire the largest share during the forecast period owing to the high economic growth in developed and developing regions, which is raising the need for infrastructural development.
Our in-depth analysis of the global market includes the following segments:
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By Type of Product |
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By Application |
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On the basis of geographical analysis, the global lower carbon cement market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is expected to dominate majority revenue share by 2036, owing to increasing population, leading to a mounting need for economic development in the region. As per the World Bank, in 2020, the population of South Asia was 1.857 billion, up from 1.836 billion and 1.814 billion in 2019 and 2018.
In addition, growing concerns associated with carbon dioxide emissions is also expected to augment the sales of lower carbon cement in the region. Moreover, the market in North America is also projected to gather a significant share during the forecast period owing to stringent regulations associated with carbon emissions, and high disposable income of the region.
October 2021- Holcim introduced a sustainable floor system for the future. The specialty of this system is that it would use 50% less material compared to traditional structures, and hence lower down the CO2 emissions by 80%.
July 2021- Schwenkzement acquired more than 50% of the shares of Akmenes Cementas AB cement plant in Lithuania which now gives rise in total holding of company shares to 97%.
Author Credits: Rajrani Baghel
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