Green Cement Market Expected to Reach $86.2 Billion by 2032

According to a new report published by Allied Market Research, titled, “green cement market" was valued at $36.1 billion in 2023, and is projected to reach $86.2 billion by 2032, growing at a CAGR of 10.2% from 2024 to 2032.

Green cement is a cementitious material made from industrial waste that can reduce the carbon footprint of construction activities. In addition, structures built using green concrete have a better chance of surviving a fire along with higher resistance to corrosion.

The market is expected to witness various technological developments during the forecast period on account of the emergent technologies, such as LC3 and Ferrocrete, which are expected to improve the effectiveness of green cement. Furthermore, increase in environmental degradation and rise in greenhouse gas emission in the atmosphere have led several international agencies affiliated with the UN and other organizations to use green cement. Renewable Fuel Standard Program are recent examples of EPA that focus on safeguarding the environment and maintaining the ecological balance, resulting in increased demand for green cement during the forecast period. Moreover, high adoption rate in North America and Europe, owing to the presence of strict regulations, is expected to boost the market growth.

In 2023, Europe accounted for the highest share in the global market, attributable to the stringent regulations pertaining to carbon emissions and the growth in the taxes that could be levied on industrial emissions. However, Asia-Pacific is expected to surpass Europes share during the forecast period.

The key players profiled in the report are LafargeHolcim, HeidelbergCement AG, Anhui Conch Cement, CEMEX S.A.B. de C.V., Taiheiyo Cement Corporation, China National Building Material, Votorantim cimentos S.A., UltraTech Cement Ltd., Taiwan Cement Corporation, and ACC Limited.

Key Findings of the Green Cement Market

• In 2023, Europe dominated the global market, constituting around one-third share of the global market.
• In terms of volume, China was the leading consumer of green cement globally in 2023.
• The commercial segment is estimated to grow at a high CAGR from 2024 to 2032
• The residential segment accounted for nearly half of the market share.
• The slag-based segment accounted for the highest share in 2023