Green Cement Industry Landscape and Market Forecast 2024

"The Business Research Company recently released a comprehensive report on the Global Green Cement Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The green cement market size has grown strongly in recent years. It will grow from $30.15 billion in 2023 to $33.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increased sustainability awareness, rise in demand for low-carbon footprint materials, favorable government policies for green buildings, increased concern about greenhouse gas (ghg) emissions,rising demand from the residential construction industry.

The green cement market size is expected to see strong growth in the next few years. It will grow to $47.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to rapid urbanization in developing countries, rising industrial activities, rise in infrastructure development, consumer preference for sustainable buildings, rising demand from the residential construction industry. Major trends in the forecast period include advancements in green cement technologies, carbon capture and utilization (ccu) in cement production, circular economy practices, carbon labeling for construction materials, collaborative research and development.

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Market Drivers and Trends:

The growth of awareness related to a reduction in carbon emissions and its detrimental effects is expected to propel the growth of the green cement market. The high contribution of the cement industry to CO2 emissions and its detrimental effects on human health have contributed to an increase in the shift towards the adoption of green cement. For instance, according to a report published by the International Energy Agency in 2022, global energy-related carbon dioxide (CO2) emissions increased by 0.9%, equivalent to 321 million metric tons, reaching a record high of more than 36.8 gigatons. Further, in February 2022, according to the Environmental Protection Agency, a US-based governmental agency, the total rise in greenhouse gas emissions had increased by around 78%, with emissions from burning fossil fuels and industrial activities accounting for about 90% of the increase across the globe. Communities across the globe are investing in green cement to reduce their contribution to emissions and increase support for sustainable building materials, which is expected to boost demand for green cement during the forecast period.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Associated Cement Companies Limited, Anhui Conch Cement Company Limited, Solidia Technologies Inc., Taiheiyo Cement Corporation, UltraTech Cement Limited, Votorantim Cimentos S. A., Ecocem Ireland Ltd., HeidelbergCement AG, Kiran Global Chems Limited, LafargeHolcim Ltd., Navrattan Blue Crete Industries Pvt. Ltd., Taiwan Cement Corporation, China National Building Material Group Co. Ltd., Navrattan Group, Italcementi S. p. A., CarbonCure Technologies Inc., Sociedad Anonima Bursátil de Capital Variable, CRH Public Limited Company, Hallett Group, JSW Cement Ltd., Calera Corporation, CeraTech Inc., Green Cement Inc., Holcim Ltd., Ecoplus Industries Pvt. Ltd., Carbon Clean Solutions Ltd., Blue Planet Systems Corporation, Novacem Ltd., Calix Limited, Zeobond Pty Ltd., Ashcrete Technologies Inc., Green Island Cement Company Limited, Cenin Cement Limited, Banah UK Ltd.

Green Cement Market 2024 Key Insights:

• The green cement market size is expected to see strong growth in the next few years. It will grow to $47.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Green Cement Market Growth Fueled By Climate Awareness And Carbon Emissions Reduction Efforts
• Innovative Breakthroughs In Green Cement Technology
• North America was the largest region in the green cement market in 2023

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