Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Green Cement Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue of the Green Cement Market will surpass US$1.8 billion in 2024. This 250+ page report provides you with the following knowledge:
- Revenue forecasts to 2034 for Green cement Market, 2024 to 2034 Market, with forecasts for type, and application, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for five regional and 21 key national markets - See forecasts for green cement Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 10 of the major companies involved in green cement Market, 2024 to 2034.
Federal programs and subsidies are driving the consumption for green cement
Federal programs and subsidies play a critical role in increasing green cement usage, with governments throughout the world launching a variety of measures to encourage the use of environmentally friendly construction materials. In the United Kingdom (UK), the government has established programs such as the Green Construction Board and the Clean Growth Strategy, which offer financial incentives and support for projects that use sustainable construction materials such as green cement.
Similarly, in India, the government has implemented initiatives like the National Mission for Enhanced Energy Efficiency and the Green Highways Policy to encourage the use of green technology in infrastructure building, including green cement. Subsidies and tax breaks are offered to encourage the building sector to adopt more sustainable methods.
The United Arab Emirates (UAE) has also shown a commitment to sustainability with projects like the UAE Vision 2021 and the Dubai Clean Energy Strategy 2050. Government-funded projects promote the use of sustainable construction materials, with developers providing subsidies and incentives for incorporating green cement into their projects.
In 2022, Vancouver and Toronto have set net-zero greenhouse gas emissions objectives for all new buildings by 2030, while Montreal must achieve net zero by 2025. There are also ongoing initiatives to discover a greener way to produce concrete, which is the primary material used in most building. They include a novel solution from Halifax-based CarbonCure Technologies that incorporates recycled CO2 into the concrete mix.
In US, Three jurisdictions, including Denver, Boston, and New York City, will impose financial penalties on properties that fail to reach carbon reduction targets. For example, the municipal Energize Denver code specifies that buildings 25,000 square feet or greater must reach a final EUI objective by 2030. The Building Emissions Reduction and Disclosure Ordinance (BERDO) is an important environmental program enacted by the City of Boston. The city intends to steadily reduce carbon emissions to net zero by 2050. New York City's Local Law 97 (LL97) will assess fines similarly to Boston, but with a small twist. Beginning in 2024, all commercial structures 25,000 square feet or bigger will be required to comply with LL97. The city's objective is to minimize greenhouse gas emissions.
The High Costs Compared to Traditional Cement Pose a Challenge
Green cement manufacturing faces greater costs since it relies on more complex procedures and different resources than standard Portland cement. This intricacy frequently results in a higher starting cost per tonne for green cement. While the environmental benefits of green cement provide significant long-term value, economic restrictions in construction projects usually lead stakeholders to choose more cheap conventional alternatives.
The pricing of green cement varies considerably based on factors such as brand, location, production methods, and market demand. Generally, green cement tends to be slightly pricier than Portland cement due to the expenses associated with its raw materials. Despite this disparity, many builders prioritize sustainability and are willing to pay a premium for the environmental advantages offered by green cement. For example, in the United States, prices can range from $80 to $160 per ton, with variations across states like California and Texas.
In India, where the building sector contributes significantly to economic growth, the high cost of green cement has hampered its adoption, despite rising awareness of sustainability problems. Traditional cement remains the chosen choice for many developers owing to its cheaper initial costs, despite the fact that green cement may provide long-term environmental advantages and durability.
In Europe, where environmental regulations are often more stringent, prices can range from €90 to €150 per ton. However, as the demand for eco-friendly construction materials continues to grow, it is anticipated that the price of green cement will decrease over time.
Despite rising environmental consciousness and a trend toward sustainable construction techniques in the United States, the high cost of green cement continues to be a barrier to wider implementation. While certain jurisdictions, such as California, provide incentives and rebates for green construction projects, the general market penetration of green cement is restricted by its cost competitiveness with traditional options.
Similarly, in rising economies such as Brazil and South Africa, where infrastructure development is a crucial engine of economic growth, the cost of construction materials is an important concern. Green cement's higher prices can provide hurdles for government-funded infrastructure projects and private developers operating on tight budgets, restricting its adoption despite the potential long-term advantages for sustainability and environmental protection.
Research and development activities are continuing to improve manufacturing methods and reduce prices in order to make green cement more competitive in the market. Despite the problems created by their high costs, the rising demand for sustainable construction materials emphasizes the significance of breaking down this barrier in order to hasten the transition to a more ecologically friendly built environment.
Segments Covered in the Report
- Green Cement Type Outlook
- Fly Ash
- Slag
- Recycled Aggregate
- Others
- Green Cement Application Outlook
- Residential
- Commercial
- Industrial
Market Dynamics
- Driving Factors
- Real Estate Sector's Surge Spurs Growth in Green Cement Market
- Increasing Concern of GHG Emissions from Cement Production might Boost Market Growth
- Government Policies and Incentives are Fuelling the Demand for Green Cement
- Opportunities
- Expansion into Niche Applications Presents a Significant Opportunity
- Carbon Capture, Utilization, and Storage (CCUS) Technologies and Green Cement: A Powerful Combination
- Integration with Circular Economy Practices
- Growing Focus on Bio-based Binders
- Challenges
- The High Costs Compared to Traditional Cement Pose a Challenge
- Limited Awareness and Education
- Need for More Research & Development
- Restraining Factors
- Established Alternatives is Likely to Hinder Product Adoption
- Supply Chain Constraints
Leading Companies Profiled
- 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.
- JSW Cement
- UltraTech Cement Limited
Other Companies Featured
- Ambuja Cements
- Arctic Canadian Diamond Company
- BioMason Technologies (US)
- Buzzi Unicem S.p.A. (Italy)
- Calera Corporation (US)
- CalPortland Company (US)
- CeraTech (US)
- CO2 Capture Technologies (Canada)
- Calix Limited
- Ecorecem Materials (Israel)
- GreenSlate (Canada)
- Greentown Labs
- InterCement (Brazil)
- Kesoram Industries
- Kiran Global Chem Limited (India)
- Lafarge Canada (Canada)
- LafargeHolcim Ltd. (Switzerland)
- Novacem (France)
- O2 Renewable Energy
- Pozzolanic Materials Ltd. (UK)
- Shree Cement Ltd. (India)
- Siam Cement Public Company (SCG) (Thailand)
- Svante Inc. (US)
- Solidia Technologies (US)
- Standard & Poor's (S&P)
- Taiheiyo Cement Corporation (Japan)
- Votorantim Cimentos S.A. (Brazil)
- Walker Aggregates (US)
- Wagners Holding Company (Australia)
Key Topics Covered
1 Report Overview
2 Executive Summary
3 Market Overview
4 Green Cement Market Analysis by Type
5 Green Cement Market Analysis by Application
6 Green Cement Market Analysis by Region
7 North America Green Cement Market Analysis
8 Europe Green Cement Market Analysis
9 Asia Pacific Green Cement Market Analysis
10 Latin America Green Cement Market Analysis
11 Middle East & Africa Green Cement Market Analysis
12 Company Profiles
13 Conclusion and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/i1nv8n
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