The global green cement market is projected to grow at a CAGR of 9.65% to reach US$35.680 billion by 2024, from US$20.535 billion in 2018.It is estimated, on an average, a single ton of traditional Portland cement releases approximately 5-7% of the total man-made carbon emissions. Thus, growing penetration of green cement in construction activities across the globe will augment the green cement market growth
Furthermore, rising investment in infrastructure spending is further expected to propel the market growth opportunities for green cement vendors and manufactures in the coming years. Globally North America and Europe holds a major share in the market on account of burgeoning investment in green building construction couple with strict regulations set by the regulatory agencies regarding greenhouse gas emission reduction is driving the green cement market growth.
Global Green Cement Market By Application :
By application, the global green cement market has been segmented as commercial, residential, and industrial. The residential application is estimated to dominate the market with 52.49% share in 2018 and is further anticipated to grow rapidly on account of growing disposable income and steady reduction in borrowing cost driving the ersdemand for residential units. Simultaneously, the commercial application segment is projected to grow at a CAGR of XX% on account of growing investment in the development of educational structure and shopping centers while the industrial application is also anticipated to provide significant growth opportunities for the manufacture.we have covered complete market research and analysis with all segmentation like by industry , by type and others.
Market Opportunity In Residential:
The steady improvement in the disposable income caused by reducing the unemployment rate and simultaneous improvement in the job quality is driving the housing market globally. In fact, the government of Mexico has recently announced plans to build 7,000 new social housing units in Mexico City. Furthermore, the government is also focusing on reducing the housing deficit in the country. Similarly, in India the recent reduction in the borrowing cost on housing loans is expected to push the construction of new housing units in the country. In fact, in 2015, the government of India launched the Housing for All by 2022 scheme which aims to provide the housing .
Similarly, the growing trend of migration in Europe is putting pressure on housing prices as the gap between the demand and supply widen. Moreover, disposable income has increased at a much faster pace than the housing construction, and thus, is fueling housing prices. As such, efforts are being made to reduce the demand-supply mismatch in the recent years, which is driving the residential construction spending. In fact, the residential construction as a percentage of GDP has steadily increased in the region and thus, the global green cement market for residential application is expected to increase at a CAGR of XX% to reach a market size of US$XX billion in 2024 from US$XX billion in 2018.
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