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The stringent environmental regulations, particularly in developed countries, are driving the demand for sustainable and efficient building solutions. The adoption of green concrete has significantly increased in these regions as it helps consumers decrease the environmental impact of their buildings and meet the requirements of certifications, like Leadership in Energy and Environmental Design (LEED) in the United States, Energy Pass in Germany, and the Haute Qualité Environnementale (HQE) in France. This is driving the growth of the green concrete industry. In addition, the growing awareness regarding sustainable building practices in emerging markets is expected to create new opportunities for the market to expand. Based on application, the commercial sector is anticipated to witness a robust growth in the forecast period. The growth can be attributed to the increasing adoption of sustainable building practices in the development of public facilities, corporate buildings, and shopping complexes, among others.
The growing R&D activities to manufacture sustainable and advanced construction materials are further aiding the market growth. For instance, CEMEX S.A.B. de C.V. (NYSE: CX), a multinational building materials company, manufactures and distributes eco-labelled type M masonry cement under the name Rizal Masonry Cement, which is a sustainable alternative to conventional cement. Rizal Green effectively minimises the carbon footprint of regular Portland cement by nearly 32% and further allows better moisture retention and adhesion strength through its XD 100 nanotechnology. Thus, advancements in material technology are expected to significantly contribute to the industry growth over the forecast period.
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The major players in the global green concrete market are Dow Chemical Company, BASF SE, MAPEI Inc., LafargeHolcim Ltd., and Flyocrete Green Concrete LLP, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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