Cement is one of the most crucial materials in modern construction industry. It works as the binding material, which keeps other materials such as bricks, steel together intact. Green cement is a relatively new concept yet it has been used widely in the construction industry. As an initiative to reduce environmental threats produced by manufacturing of cement, green cement has opted for construction. Green cement is a form of cement, which is produced with the help of a carbon-negative manufacturing process. It means harmful emissions during the manufacturing of cement are minimized, making that cement eco-friendly. Green cement offers various advantages over ordinary Portland cement. For instance, it reduces carbon dioxide emissions by up to 10%, it reduces water consumption by 20 percent.
Global Green Cement Market - Market Outlook
Global green cement market size was valued at US$ 21.43 billion in 2018 and is expected to witness a CAGR of 8.75% during the forecast period (2019-2027), reaching US$ 43.58 by 2026. Increasing demand for an eco-friendly substitute for traditional cement is expected to boost the global green cement market in the near future. Green cement reduces the carbon emission at construction sites by 40%, which is increasing its demand and subsequently driving the market growth. Green cement is used in commercial, residential, and industrial construction. Residential area was the largest in term of volume in 2015, accounting for 44.2% market share. Moreover, growing demand for the construction of offices, shopping malls, hospitals, theaters will support the market growth during the forecast period. Furthermore, green cement is also used as a repair material in the construction industry and as a binder in waste management. Key players around the world are conducting research and development activities to improve the manufacturing technology of green cement, which will eventually drive the market growth.
Growing urbanization in emerging economies such as India, China, and South Africa poses an excellent opportunity for green cement manufacturers to enhance their revenue during the forecast period.
Global Green Cement Market: Taxonomy
On the basis of product type, the global green cement market is classified into:
On the basis of end-user industry, the global green cement market is classified into:
On the basis of regions, the global green cement market is classified into:
Global Green Cement Market - Market Regional Analysis
Among regions, North America is expected to hold a significant market share in the global green cement market, exhibiting CAGR of 9.12% and reaching US$ 15.68 billion by 2026. This is owing to large presence of key players in the region. However, the construction industry in North America is mature, which may hamper the market growth. Asia Pacific is expected to witness significant market growth, owing to increasing demand for green cement from emerging economies such as India and China.
Global Green Cement Market - Key Players
Key players operating the global green cement market include Holcim Ltd., Jaypee Group, Cemex, Eurocement group, Sinoma International Engineering Co., Ltd, HEIDELBERGCEMENT AG, Kiran Global Chem Limited and Lafarge Cement Company among others.
Global Green Cement Market: Key Developments
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to: