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Will Green Cement a Key to Gain Revenue for Low Carbon Cement Manufacturers?
The low carbon cement market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report provides in-depth insights covering key factors such as drivers, opportunities, key players’ strategies, and demand outlook. In addition to this, the study analyzes latest trends across various segments such as cement type, product type, reduction potential, end use, and region.
NEW YORK, Aug. 24, 2022 /PRNewswire/ — The global low carbon cement market is set to grow at 11.2% CAGR between 2022 and 2032, to reach US$ 5 Billion by 2032. Growing spate of regulations concerning carbon emissions from the cement industry, combined with availability of sustainable materials such as cross-laminated timber is driving sales of low carbon cement.
According to Fact.MR, the low carbon cement market is valued at US$ 1.7 Billion in 2022. Adoption of low carbon cement in diverse industries such as industrial and residential sectors have grown steadily as it produces lesser emissions than conventional cement. The cement industry accounts for the largest emissions of carbon dioxide globally, and it is facing strict regulatory environment as global warming becomes a key issue for policymakers.
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Global production of cement is likely to grow between 12% to 23% as per a survey by International Energy Agency. Further, direct carbon dioxide emissions from the cement industry are likely to increase by 4% globally, according to Reference Technology Scenario by RTS. Considering these projections, the cement industry is focusing on adopting more sustainable production methods. Investment in low carbon cement is gaining traction as a result of these factors.
Hence, as cement industry continues to be one of the largest contributor to greenhouse gases emissions, governments across the globe are inclining to tighten the regulations to improve decarbonizing potential of existing cement formulations. This is expected to aid the expansion of low carbon cement market over the upcoming decade.
Key Takeaways:
- North America is expected to be a prominent market for low carbon cement, registering 10.2% CAGR during the assessment period
- The low carbon cement market is extremely consolidated, with top 4 companies accounting for a market share of nearly 80%
- By end-use, commercial construction is likely to remain the most lucrative segment and held nearly 36% of market share in 2021
- By cement type, portland cement is anticipated to remain the preferred choice, expected to reach US$ 2.8 Billion by 2032
Growth Drivers:
- Imposition of stringent regulations on cement industry to reduce its net carbon output is driving demand for low carbon cement
- Preference for environmentally-friendly construction materials in residences is driving the low carbon cement market
- Innovation in calcination process that leads to higher production and lower wastage during the production process has acted as a confidence building measure for manufacturers
Restraints:
- Low carbon cement is costlier than conventional cement; due to this, its use is limited to developed countries and high cost projects
- Availability of alternatives such as cross laminated timber continues to eat into the market share of low carbon cement manufacturers
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Competitive Landscape:
Leading carbon cement manufacturers are catering to end-user demand by increasing their manufacturing and distribution facilities. Market players are also collaborating with government entities to drive sustainability initiatives together.
For instance,
- In March 2022, Titan America announced that it will be selling lower-carbon cement exclusively by 2022 as part of its “Business Ambition for 1.5 C” initiative
- Cementos Argos announced in May 2022 that it has developed a low-carbon cement using alkaline activation technology. This technology will help the company formulate hybrid cements.
Key Companies Profiled by Fact.MR
- CarbiCrete
- Carbon Cure
- Cemex
- CeraTech
- Ecocem Ireland Lt
- Heidelberg Cement
- Holcim
- Kiran Global Chems Ltd.
More Valuable Insights on Low Carbon Cement Market
In the latest study, Fact.MR offers a detailed study on global low carbon cement market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of low carbon cement with analysis across below segments:
By Cement Type:
- Portland Cement
- High Alumina Cement
- Quick Settling Cement
- Others
By Product Type:
- Fly-ash-based
- Slag-based
- Others
By Reduction Potential:
- Less than 50% reduction
- 50-70% reduction
- Above 70% reduction
By End Use:
- Residential Construction
- Commercial Construction
- Industrial Construction
By Region:
- North America
- Latin America
- Europe
- East Asia
- South-East Asia & Oceania
- Middle East & Africa
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Key Questions Covered in the Low Carbon Cement Market:
- What is the projected value of the low carbon cement market in 2022?
- At what rate will the global low carbon cement market grow until 2032?
- Which are the factors hampering the growth in the low carbon cement market? Which region is expected to lead in the global low carbon cement market during 2022-2032?
- Which are the factors driving the low carbon cement during the forecast period?
- What is the expected market value of low carbon cement during the forecast period?
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About Fact.MR
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