Pune, May 4, 2021 (GLOBE NEWSWIRE) – Global Green Concrete Market Overview
the global green concrete market size is expected to post a staggering 9.45% CAGR over the forecast period (2020-2027), according to the latest Market Research Future (MRFR) report. Green or recycled concrete is a building material that contains waste as part of its composition. This has led to its demand among builders to gain environmental or sustainable credibility. Urban development programs and efforts to adhere to guidelines from environmental agencies can significantly boost its demand.
The demand for economically viable solutions and sustainable building materials in the construction industry can drive market demand. The government’s efforts to reduce carbon emissions around the world have led raw material manufacturers to seek alternative solutions. Developing energy efficient infrastructure and green building codes to boost real estate sales can bode well for green concrete producers. The high population of urban areas coupled with the demand for living solutions may explode during the forecast period. The light asset models followed by various construction companies are expected to significantly boost the market demand. China, India and countries in the Middle East are changing their building regulations to meet environmental guidelines. It can support the demand for green concrete.
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Infrastructure development programs designed to stimulate the economy through government programs can prove successful for the green cement market. The adoption of green concrete in the renovation or refurbishment of old buildings can be an indicator of the growing demand for the material. For example, the Mexican government’s National Infrastructure Plan (NIP) for infrastructure development in the tourism, hospitality, communications and transportation, and energy sectors may bode well for the market. The rise of residential and commercial construction projects with special attention to water transportation and marine structures is boosting the outlook for the green cement industry. Circular building construction models can facilitate market growth.
Impact of COVID-19:
The COVID-19 pandemic has slowed demand for green concrete due to government policies dictating the suspension of infrastructure projects. Restrictions on the movement of construction workers to curb the spread of the coronavirus have also affected market demand. Green concrete producers have seen a recovery in demand due to the relaxation of restrictions on construction projects. Replacing concrete or coarse aggregate coupled with reduced consumption of natural river sand, natural limestone, clay and shale can boost the market outlook.
Sustainable construction is rapidly emerging to replace current building models due to the awareness of climate change. Following environmental guidelines as well as green building codes can stimulate demand for green concrete. Cement producers are launching green variants of building materials to support a sustainable lifestyle. For example, ACC Cement, one of the largest cement producers in India, introduced its customers to the ECOPact range of cement which has a lower carbon content compared to its normal products. Countries’ renewable carbon emission reduction targets can go a long way in supporting the green concrete market.
On the basis of end users, the global market has been segmented into industrial, residential, commercial, and infrastructure. The commercial segment has been segmented into R&D centers, public establishments, institutions, healthcare and others. The commercial segment is likely to hold the largest market share during the forecast period. It is expected to be the fastest growing segment in the global green cement concrete market. The increase in sustainable building construction practices in the commercial sector has further increased the demand for green concrete. With a focus on cost-effective and sustainable building solutions, demand is expected to accelerate in the coming years. This is evident by the accelerated construction of shopping centers in the newly developed areas. In contrast, the residential construction sector is expected to register the highest growth rate. Rising urbanization and increasing adoption of sustainable products are expected to boost the green concrete market in emerging economies during the forecast period.
Browse the in-depth market research report (110 pages) on the Green Concrete Market
The green concrete market covers the regions of North America, Europe, Asia-Pacific (APAC) and the rest of the world (RoW).
Europe is said to dominate the global market due to awareness of green buildings and the introduction of environmentally friendly guidelines by regulatory agencies. It can lead to the demand for green concrete due to its applications in real estate. European Union initiatives to reduce carbon emission rates and pursue green policies can work in favor of the green concrete market. HOLCIM Romania has launched ECOPact, a range of green concrete, for its customers wishing to develop green buildings. The commitment to net zero carbon emissions is likely to be a huge catalyst in the regional market.
APAC is expected to gain a significant market share in the coming years thanks to the investments of India and China in their national infrastructure. Increased foreign direct investment and subsidies given to property developers to encourage adoption can boost regional market demand. The new development bank of the BRICS member countries has rolled out programs for green concrete with the aim of stimulating market growth.
The green concrete market is expected to be highly competitive in nature due to the increase in sustainable actions by companies and efforts to reduce carbon emissions from governments. The rise of infrastructure projects and environmental codes may dominate green cement innovations.
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The main players in the market are Rpm International Inc., Pidilite Industries, Maipei Ltd, CICO Technologies Ltd., The Dow Chemical Company, Chryso SAS, Eco Green Co., CeraTech Inc, BASF and Cemex CB
Hoffmann Green Cement Technologies uses green cement for the construction of 4 new schools in Vendée, France. He has collaborated with GCC for other development projects in the region. This decision may mark the development of low-carbon buildings in the years to come.
Sustainable living programs to drive demand in the global green concrete market
The global green concrete market is set to grow due to the awareness of the environmentally friendly material and investments in infrastructure projects. Environmental guidelines and new building codes aimed at saving energy may boost its demand. The COVID-19 pandemic and its impact on the demand for green concrete in the context of climate change are revealed in the article.
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