Green Cement market is projected to grow at a CAGR of 7.7% by 2034: Visiongain

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Visiongain has published a new report entitled Green Cement Market Report 2024-2034: Forecasts by Type (Fly Ash, Slag, Recycled Aggregate, Others), by Application (Residential, Commercial, Industrial) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.

The green cement market was valued at US$18.3 billion in 2024 and is expected to reach US$38.4 billion by 2034 at a CAGR of 7.7% during the forecast period 2024-2034.

Increasing Collaboration between Cement Producers and Technology Businesses to Create Novel Methods for Carbon Collection and Usage

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As demand for sustainable construction materials rises, cement makers are looking at new ways to minimize carbon emissions linked with cement manufacturing. Collaborations with companies that specialize in carbon capture, utilization, and storage (CCUS) provide opportunity to deploy cutting-edge approaches for capturing CO2 emissions from cement plants and reusing them in value-added applications. This collaboration between traditional cement manufacture and innovative carbon capture technology not only improves the environmental credentials of green cement, but it also promotes technical innovation and differentiation within the sector. Furthermore, such collaborations may attract investment from both the public and commercial sectors, pushing further research and development in sustainable cement manufacturing technologies.

In 2023, CEMEX announced to implement Carbon Clean’s carbon capture technology at its cement facilities in Europe. CEMEX and Carbon Clean have been collaborating on a project to produce a carbon capture solution for the cement industry, which costs less than $30 per ton of captured CO2.

In 2022, Holcim announced a collaboration with Svante to implement carbon capture technology at its cement facilities in Europe and North America. The cooperation intends to absorb and store CO2 emissions from cement production processes, therefore minimizing cement production’s environmental impact. By collaborating with Svante, Holcim proves its dedication to sustainability and innovation in the cement business, establishing itself as a pioneer in green cement manufacturing.

In 2022, HeidelbergCement announced a new low-carbon concrete containing recycled construction and demolition waste. In 2022, CRH set a target to reduce CO2 emissions by 33% by 2030, which likely involves increased green cement production. In 2024, Ecocem launched a new line of green cement products with ultra-low clinker factors, significantly reducing CO2 emissions. In Q1 2024, CarbonCure Technologies secured $20 million in funding to expand its carbon capture and utilization technology for green cement production.

These examples show how cooperation between cement makers and technology businesses drive innovation and promote sustainable practices in the cement sector. By using the expertise of technology businesses specialized in carbon capture and use, cement makers are paving the path for a more sustainable future in which green cement plays an important part in sustainable construction practices.

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How has COVID-19 had a Significant Impact on the Green cement Market?

The COVID-19 epidemic has had a direct and indirect influence on the green cement industry, altering its direction in unexpected ways. Directly, interruptions in supply chains and building operations caused by lockdown measures have temporarily halted production and demand for green cement, mirroring the overall downturn in the construction industry. However, the crisis has boosted industry resilience and innovation, with some firms taking advantage of the gap in activity to invest in research and development of more sustainable manufacturing techniques and products.

Indirectly, the pandemic has expedited current tendencies toward sustainability and raised awareness of environmental challenges. Governments across the world have announced stimulus packages aimed at reviving economies while prioritizing green efforts, which might lead to greater financing and support for sustainable building projects, including those that use green cement.

Post-pandemic, Initiatives such as the European Union’s Green Deal, as well as different green recovery programs in Canada and South Korea, are likely to stimulate demand for green building materials following the epidemic. Furthermore, adjustments in consumer behaviour toward healthier and more sustainable lifestyles, including green cement, may boost demand for green buildings and materials as individuals and businesses emphasize ecologically responsible choices in the aftermath of the epidemic.

How will this Report Benefit you?

Visiongain’s 254-page report provides 85 tables and 139 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the green cement market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for green cement. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing green cement market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Growing modernization and economic expansion are driving market growth

Green cement manufacturers benefit from satisfying increased demand from infrastructure and development projects, resulting in significant profits. The worldwide green cement market is expected to rise during the projected period due to increased industrial activity and increasing urbanization. Global green cement industry leaders are partnering with small and medium-sized manufacturers to boost their company. Green cement made from fly ash and slag is widely used in global industrial industries. The green cement industry is expanding due to increased infrastructure development in emerging nations and a growing worldwide population.

The Asia Pacific green cement market offers lucrative opportunities for manufacturers. Manufacturing businesses in India and China are strengthening their presence in the green cement industry. Market participants anticipate increased demand for green cement in the region, leading to new prospects. Green cement’s growing usage in Asia Pacific end-use industries, including building and construction, industrial, and infrastructure development projects, presents prospects for producers. The market for green cement in multifamily housing development is driven by reasons such as population growth, industrialization, and increased awareness of its benefits. Green cement is becoming increasingly popular in Asia Pacific, driven by the booming residential sector.

Increasing Concern of GHG Emissions from Tradition Cement is expected to Boost Market Growth for Sustainable Products such as Green Cement

The growing concern about greenhouse gas (GHG) emissions from standard cement production procedures is expected to drive market demand for sustainable alternatives such as green cement. Stringent environmental restrictions and growing public awareness are driving demand for eco-friendly building materials to reduce the carbon footprint of construction operations around the globe.

In India, where the construction industry contributes significantly to GHG emissions, the government has launched efforts such as the National Action Plan on Climate Change and the Green India Mission to encourage sustainable development and lower carbon emissions. As a result, green cement is becoming increasingly popular among developers and legislators looking to comply with environmental aims.

Similarly, in China, rigorous environmental rules and aggressive objectives to cut carbon emissions have boosted investment in green technology, such as green cement manufacturing. The Chinese government’s emphasis on sustainable development and the promotion of green building techniques has resulted in growing use of green cement in construction projects across the country.

In Europe, where the European Union has set high climate objectives through the Paris Agreement, there is a rising emphasis on lowering carbon emissions from the building industry. Initiatives like as the EU Emissions Trading System and the Circular Economy Action Plan encourage the use of sustainable materials such as green cement, resulting in market development in the region.

Overall, growing concern about GHG emissions from traditional cement manufacturing is driving demand for sustainable goods such as green cement in a variety of sectors, paving the way for considerable development in the future years.

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Where are the Market Opportunities?

Utilization of Carbon Capture, Utilization, and Storage (CCUS) Technologies in Green Cement

Integrating CCUS technologies within the green cement production process offers a promising opportunity to achieve carbon-negative cement. CCUS captures CO2 emissions from the production process, utilizes them for other industrial processes, or stores them permanently underground. Companies like LafargeHolcim are piloting CCUS projects to capture CO2 emissions from their cement plants. Successful implementation can lead to a new generation of truly sustainable green cement with minimal environmental impact.

In May 2023, Air Liquide and Holcim have signed a Memorandum of Understanding (MoU) to explore a proposal to decarbonize Holcim’s new cement manufacturing plant in Belgium, which will use Air Liquide’s unique CryocapTM carbon capture technology. In this context, Air Liquide and Holcim have jointly filed for the European Innovation Fund supporting framework. This collaboration is a significant step toward accelerating the decarbonisation of Belgium’s industry.

Green Cement’s Promise Goes Beyond Traditional Uses Such as Concrete

Its application in specialized construction projects such as underwater structures, high-performance buildings, and prefabricated components offers tremendous potential. Research into green cement for certain capabilities, such as self-healing concrete or carbon sequestration qualities, has the potential to open up new business areas.

Precast concrete is a rising niche use for green cement. Pipelines, pavement slabs, and curbs are all examples of precast concrete. By 2023, this market is expected to be worth more than $100 billion. Solidia Technologies, for example, is developing CO2-cured cement for precast applications, which provides a more sustainable and quicker curing option.

Self-healing Concrete Researchers are developing self-healing concrete that contains green cement. This type of concrete may spontaneously mend fractures, allowing concrete structures to survive longer and with less care. Enzymatic Inc. has developed an enzyme-based, biological self-healing concrete that can repair itself while absorbing CO2 from the atmosphere. The company combines the biological enzyme Carbonic Anhydrase (CA) into construction materials.

Competitive Landscape

The major players operating in the green cement market are ACC Limited, Anhui Conch Cement, CEMEX S.A.B. de C.V., CRH plc, CarbonCure Technologies Inc., Green Cement Inc., Heidelberg Materials AG, Holcim Ltd., and JSW Cement, UltraTech Cement Limited. These major players operating in this market have adopted various strategies comprising investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

  • In 2024, a low-carbon cement binder was created by Neo-Eco created from clay extracted during the Grand Paris Express project. The technique, developed at IMT Nord Europe, utilizes flash-calcination at around 700°C, which allows it to replace some of the clinker while emitting nearly five times less CO2 than conventional methods. Christophe Deboffe, Neo-Eco’s director, stated that this new element might account for 30% of cement while keeping the cost comparable to standard binders.
  • In March 2023, Holcim Mexico has begun production of Fuerte Más reduced-CO2 cement at its cement facilities in Macuspana and Tabasco, with a total annual capacity of 60,000 tons. The cement has 50% lower CO2 emissions and 10% better physical performance than standard Portland cement.
  • In Jan 2023, ACC Limited has created ‘ACC ECOMaxX’, a line that includes environmentally friendly concrete products. The goods are created utilizing a unique Green Ready Mix Technology, which maximizes green effect by 100% lowering greenhouse gases.

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