The global green cement market is estimated to grow at a substantial pace in the next few years, thanks to the rising encouragement from governments across the globe. The rising area of application of green cement, including infrastructure, industrial, residential, and non-residential is projected to accelerate the growth of the overall market in the next few years. According to a research study by Transparency Market Research, the global market for green cement is anticipated to reach a value of US$38.10 bn by 2024. The market is predicted to register a progressive 11.30% CAGR between 2016 and 2024.
Some of the key questions related to the growth prospects of the global green cement market have been addressed in the Transparency Market Research blog below:
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Which geographical segment is estimated to witness rapid growth in the coming years?
Among the key regional segments, the Asia Pacific market for green cement is projected to witness a high level of growth in the next few years. The high growth of this region can be attributed to the increasing number of construction activities. In addition, the high rate of industrialization and urbanization is expected to accelerate the growth of the green cement market in Asia Pacific. The increasing need for infrastructural development, especially in developing economies and the rising preference for using green solutions are anticipated to create potential opportunities for key players operating in this region.
Which strategic policies are expected to help the key players in sustaining the competitive environment?
The global green cement market is characterized by a high level of competition. The presence of a large number of players and the expected entry of new players are anticipated to strengthen the competitive scenario of the overall market in the near future. Some of the key players operating in the green cement market across the globe are China National Building Material, Heidelberg Cement AG, Lafarge S.A., Taiheiyo Cement Corporation, and CEMEX S.A.B. de C.V. The increasing number of mergers and acquisitions and the rising focus on research and development activities are projected to encourage the growth of the market and generate promising opportunities in the near future.
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Which key factors are predicted to bolster green cement market across the globe?
The increasing number of building and construction activities is one of the key factors expected to encourage the growth of the overall market in the next few years. In addition, the rising need to reduce carbon emissions is predicted to augment the green cement market in the coming years. The favorable government policies to encourage the use of green cement and the increasing investments in this sector are some of the other major factors that are anticipated to accelerate the growth of the overall market in the near future. The rising awareness among consumers regarding the advantages of using green cement is likely to supplement the market’s growth.