Lower Carbon Cement Market Size

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.