The global green cement market is expected to grow at a CAGR of 10.27%, reaching a market size of US$47.943 billion in 2029, up from US$24.183 billion in 2022.
Globally, escalating requests from the energy and power industry for global green cement stem from population expansion and fast infrastructure buildup, among other things, such as rising manufacturing activities. There has also been an observable increase in their use within the international automotive industry. This increase in use can be ascribed to the fact that highly efficient automotive parts such as antenna cores, gearboxes, alternators, and induction coils are becoming increasingly common in the industry.
Furthermore, the green cement used in these cores has advantages over traditional hard metals. It offers energy efficiency, reduces noise levels, and requires less space, leading to increased adoption in the electric car sector. Consequently, the need for green cement is being stimulated by the increasing global adoption of electric vehicles. In addition, they are used in transformers, alternators, claw pole motors, stepper motors, brushless direct current (DC) motor stators, and switch reluctance motors. Moreover, the market is propelled by multiple advancements in renewable energy harvesting and increasing investments in the power distribution industry.
Global Green Cement Market Drivers
The main driver for market growth is the increased attention to global warming, and everyone, including the government, companies, and even customers, is looking for environment-friendly building materials. Moreover, because green cement has lower carbon intensity than those made from normal ingredients, the imposition of tight rules regarding carbon emission in the building sector has necessitated it. These solutions have been adopted because they contain less carbon than the traditional ones.
Additionally, there is an expanding market because of increased demand for LEED-certified buildings alongside sustainable infrastructure, which calls for using construction materials adhering to green building standards. The market is also increasing due to different technological and scientific advancements. These range from new cement mixtures that utilize alternative ingredients to strategies that cut down the use of power. Furthermore, enhanced public-private-academic collaboration is a critical driver for this growth since this makes the creation of frameworks and money more straightforward.
Due to stringent environmental regulations and green building certifications, the construction industry has witnessed significant transformations worldwide. Consequentially, industry players need to embrace green cement as one of the ways towards compliance. These targets are because they emit less carbon dioxide compared to other types of materials, thereby making them suitable for use when governments are setting demanding emission goals that emphasize sustainability. Many construction projects that target LEED, BREEAM, or any other green certificate rely on green cement for sustainable building materials.
The rapid growth of the green cement market emanates from the suitable legal environment that has been developed. This compels the producers and suppliers to introduce changes to meet the new demands in the green construction sector.
Constant developments in materials sciences and cement production techniques have revolutionized the field of green cement. Leading scientists and engineers are currently studying creative methods of substituting traditional cement clinker with secondary cementitious materials, industrial by-products, and alternative binders. These consume less energy when they are manufactured, hence lessening the greenhouse effect.
Further, the development of these technologies has played an important role in creating green cement formulations that enable equivalent or even better performance properties while lowering greenhouse gas emissions, so they have been adopted more rapidly. Moreover, besides being environmentally friendly, such an improvement will be accepted by those who sponsor a plan or professionals constructing homes at affordable costs using materials that conserve wildlife.
Fly ash-based green cement is becoming popular worldwide because it does two things: using waste materials and reducing carbon dioxide release. There is less clinker in concrete formulations with fly ash, a waste material from coal-burning power stations, so there are fewer carbon emissions during production.
Moreover, using traditional methods, cement production has reduced its CO2 emissions through this approach, addressing environmental concerns. In addition, fly ash-based green cement performs as well, if not better than normal cement used in construction, making it more practical and environment-friendly. The use of fly ash-based green cement is in line with the objectives of sustainable building practices and carbon reduction, which are being prioritized by industries and governments. This is driving the market growth. Moreover, the growing advocacy for circular economy principles involving repurposing waste materials has accelerated the product adoption rate.
The global demand for white cement is particularly high in the residential sector. The market under study is anticipated to be driven by an increase in new residential building construction due to the middle class's rising disposable income.
Moreover, due to the ever-increasing building codes and regulations that call for green buildings, green cement has gained prominence in the domestic housing sector. Some government initiatives, including the Affordable Housing Initiative (AHI), the New Building Canada Plan (NBCP), and Made in Canada, are projected to push this industry to greater heights. In so doing, they promote the use of green cement in residential areas. For instance, in February 2022, the Manchester City Council (MCC) approved a nine-year plan to construct four skyscrapers. The apartment buildings, which will have a height of 39 to 60 stories, are intended for Trinity Islands, two parcels of land on the River Irwell's banks. The 1,950 apartments in the buildings would be situated on land between Regent Road, Liverpool Road, and Water Street—now a parking lot.
Global Green Cement Market Geographical Outlook
Due to the increasing country’s population and people's ability to afford more homes on average, the demand for new homes has increased gradually over the years in recent times in the US. People move to cities more and create multi-family houses, prompting the US Census Bureau to issue more permits for constructing new residential structures. For instance, in January 2023, 13,39,000 is the seasonally adjusted annual permission rate for new houses in the United States, as per the US Census Bureau. Therefore, in addition to constructing new homes, the U.S. invests many resources in improving their houses. Moreover, they are strongly required for migrants who recently flocked into different areas due to overpopulation.
Furthermore, the restoration trend is also boosted by an increased appreciation for the importance of high-efficiency buildings and sustainability. Government loans are also helping homeowners renovate their homes due to the huge sums of money involved.
Global Green Cement Market key launches
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