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Redding, California - May 14, 2024

Green Cement Market to be Worth $69.3 Billion by 2031

Green Cement Market by Material (Fly Ash, Slag, Recycled Aggregate, Other Materials), End User (Residential, Commercial, Public Infrastructure, Industrial), Geography - Global Forecast to 2031


Meticulous Research®—a leading global market research company, published a research report titled, ‘Green Cement Market by Material (Fly Ash, Slag, Recycled Aggregate, Other Materials), End User (Residential, Commercial, Public Infrastructure, Industrial), Geography - Global Forecast to 2031.

According to this latest publication from Meticulous Research®, the green cement market is projected to reach $69.3 billion by 2031, at a CAGR of 9.1% from 2024 to 2031. The market’s growth is driven by factors such as the rapid growth of the construction industry, rising urbanization in emerging economies, and growing concern about GHG emissions from cement production. In addition, increasing government initiatives for green buildings are expected to provide opportunities for market growth. The lack of availability of alternative cementitious material poses challenges for market growth.

The green cement market is segmented by material and end user. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on material, the green cement market is segmented into fly ash, slag, recycled aggregate, and other materials. In 2024, the fly ash segment is expected to account for the largest share of the green cement market. Fly ash is a byproduct of coal-fired power plants. The segment’s large share is attributed to its improved concrete performance in both the fresh and hardened state and being a sustainable alternative to conventional cement as it has a lower carbon footprint and reduces the need for raw materials like limestone.

However, the recycled aggregate segment is expected to register the highest CAGR during the forecast period. The segment’s growth is driven by the rising use of recycled aggregate cement for residential and commercial landscaping projects, including in the construction of retaining walls, raised flower and garden beds, yard drainage systems, and sized down as decorative gravel.

Based on end user, the green cement market is broadly segmented into residential, commercial, public infrastructure, and industrial. In 2024, the public infrastructure segment is expected to account for the largest share of the green cement market. The segment’s large share is attributed to the rising investment in public infrastructure development and the rising use of green cement for the construction of roads, bridges, and tunnels due to its high tensile strength, resistance to corrosion, and lower shrinkage rate.

However, the residential segment is expected to grow at the highest CAGR during the forecast period. The segment’s growth is driven by the rising investment in residential construction projects worldwide, the sector's rising inclination to greener materials, and government initiatives for energy-efficient housing.

Based on geography, the green cement market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the green cement market. The region’s large share is attributed to the rising government initiatives prioritizing reduced carbon emissions and sustainable building practices, and growing construction and renovation projects.

However, Asia-Pacific is expected to register the highest CAGR during the forecast period. Rising government initiatives for green buildings to create sustainable living spaces, rapid urbanization, and industrialization, increasing disposable income, and increasing investment in infrastructure development projects are expected to drive the growth of the green cement market in the region.

Key Players:

The key players operating in the green cement market are Heidelberg Materials (Germany), HOLCIM (Switzerland), TAIHEIYO CEMENT CORPORATION (Japan), The Taiwan Cement Corporation (Taiwan), Fortera Corporation (U.S.), Solidia Technologies (U.S.), CENIN (U.K.), Cemex, S.A.B. de C.V. (Mexico), BASF SE (Germany), MAPEI Corporation (U.S.), CHRYSO (France) (A Subsidiary of Saint-Gobain (France), Navrattan Group (India), Ecocem (Ireland) and Green Cement Inc. (U.S.). 

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Key questions answered in the report-

  • Which are the high-growth market segments based on material and end user?
  • What was the historical market for green cement?
  • What are the market forecasts and estimates for the period 2024–2031?
  • What are the major drivers and opportunities in the green cement market?
  • Who are the major players, and what shares do they hold in the green cement market?
  • What is the competitive landscape like in the green cement market?
  • What are the recent developments in the green cement market?
  • What are the different strategies adopted by the major players in the green cement market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the global green cement market, and how do they compete with the other players?

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Green Cement Market - Global Opportunity Analysis and Industry Forecast (2024-2031)
Report ID: MRCHM - 1041201 Pages: 200 Formats*:PDF Category: Chemicals and Materials
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