Seoul, South Korea, Aug. 17, 2022 (GLOBE NEWSWIRE) — Fact.MR reveals that the global market for low carbon cement is valued at US$ 1.7 billion and is expected to surge ahead a CAGR of 11.2% from 2022 to 2032. High market growth is being witnessed due to rising demand for maximising the decarbonisation potential of existing cement formulations and investments in developing fresh eco-friendly alternatives.
Carbon taxes and the accelerating demand for greener building materials will probably result in significant price rises. As a result, logistical costs would become reasonable and over time, particularly in Europe and other regions, and with strict regulations, a hike in the construction materials market as a whole could be witnessed.
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In this case, a radically different cement business model might emerge, resulting in a few big plants making the clinker for a huge network of local, smaller cement companies. This process could lead to industry consolidation and boost profits in a less fragmented market, along with the risk that the investments needed for decarbonisation may only be possible at a certain size.
Companies need to adopt a sustainable approach to all aspects of the business, from the company’s mission and goals to operational practices. Decarbonisation goals must be met by keeping concrete’s relative value proposition as compared to other building materials, such as durability and strength, while still maintaining a manageable carbon footprint. Although it may be difficult, prioritising sustainability will be the cornerstone for future decarbonisation activities.
Which Low Carbon Cement End Use Will Remain the most attractive?
When compared to conventional cement, the manufacture and use of green cement have a very low carbon impact. For example, it reuses trash from manufacturing and minimises greenhouse gas emissions. It’s durable, resistant to cracking, and long-lasting. The most common problem with concrete is the corrosion of steel bars. The low chloride permeability of green cement makes it rust-resistant.
When the production process is addressed and green concrete is used, CO2 emissions can be reduced by 30%. It’s also crucial to note that the amount of freshwater needed to make ready-mix concrete with green cement is reduced by nearly half. Demand for this environment-friendly product is increasing, and it is helping the cement industry deal with a wide range of environmental concerns.
Out of the end usages considered in the market study, commercial construction has remained a vital generator for the demand for low carbon cement, accounting for nearly 36% of the total market as of 2021. Moreover, companies are partnering with cement manufacturers to come up with innovative solutions that can further be used for a longer time.
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Key Segments Covered in the Low Carbon Cement Industry Survey
- By Cement Type :
- Portland Cement
- High Alumina Cement
- Quick Settling Cement
- By Product Type (Technology) :
- 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
- East Asia
- South-East Asia & Oceania
- Middle East & Africa
Rather than selling concrete, companies must shift their focus towards selling sustainable solutions and capitalise on decreasing conventional concrete consumption levels. A smaller carbon footprint and more value to developers and owners can be achieved by reducing the amount of concrete used in the construction of a building.
An approach that at first looks counterintuitive—cannibalism—can yield large top- and bottom-line increases; increased value from long-term tangible solutions could compensate for decreasing demand.
Besides R&D in engineering, construction and construction-technology businesses can help cement and concrete producers develop innovative designs and procedures that use less material, ideally in conjunction with new circular business models, to achieve this goal.
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Key players in the Low Carbon Cement Market
- Carbon Cure
- Ecocem Ireland Lt
- Heidelberg Cement
- Kiran Global Chems Ltd.
Key Takeaways from Low Carbon Cement Market Study
- By the conclusion of the forecast period (2022-2032), Portland cement is expected to offer a total dollar potential of US$ 3.4 billion.
- High alumina cement is expected to hold a 27% market share by 2032.
- Slag-based cement is expected to account for 25.5% of the total market value by 2032, while fly-ash-based cement is expected to reach a market value of US$ 3.1 billion.
- Out of the end uses considered in the scope, commercial construction is poised to remain the most attractive segment and surge at 13% CAGR to reach US$ 2.1 billion by 2032-end.
- By 2032, it is anticipated that Europe will account for 30% of the world’s low carbon cement market share.
- East Asia is expected to offer absolute a dollar opportunity worth US$ 1 billion.
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