Green Cement Global Market Report 2022
The global green cement market is expected to grow from $24.54 billion in 2021 to $27.79 billion in 2022 at a compound annual growth rate (CAGR) of 13.23%. The green cement market is expected to reach $42.27 billion in 2026 at a CAGR of 11.06%. North America was the largest region in the green cement market in 2021. The Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the green cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growth in awareness related to a reduction in carbon emissions and its detrimental effects are expected to propel the growth of the sustainable cement market. The high contribution of the cement industry to CO2 emissions and its detrimental effects on human health has contributed to an increase in the shift towards the adoption of green cement. For instance, according to the study published in California Efficiency Intelligence in 2019, the global cement industry accounted for 2.3 gigatons (GT) of CO2 emission, out of which 1.4 GT of CO2 are process-related emissions, 0.6 GT are direct emissions, and 0.3 GT are indirect emissions. Communities across the globe are investing in sustainable cement to reduce their contribution to emissions and increase support for sustainable building materials, which is expected to boost demand during the forecast period.
Technological innovations in sustainable cement are a key trend gaining popularity in the market. Major companies operating in the green cement sector are focused on developing new technological solutions to expand their existing product portfolio and strengthen their position in green cement or eco-friendly cement. For instance, in February 2021, ACC Limited, an India-based cement manufacturer and subsidiary of the Holcim Group, launched EcoPact under green cement to bring down carbon emissions due to production and implementation. EcoPact is a ready-mix concrete that reduces CO2 emissions by up to 100%.
These innovations are a key trend in the green cement market. In February 2022, Eco Material Technologies, a USA-based manufacturer of sustainable cementitious materials acquired Boral Resources, a North America-based fly ash provider, and Green Cement, a Texas-based manufacturer of carbon cement alternatives for an undisclosed amount. Eco Material Technologies is a newly established entity in the green cement sector and the company is focusing on strengthening its production and research capabilities through these acquisitions.
The countries covered in the green cement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
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