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The global green concrete market size reached about USD 6.31 billion in 2023. The market is estimated to grow at a CAGR of 10.6% in the forecast period of 2024-2032 to reach a value of around USD 11.45 billion by 2032.
Green concrete can withstand high temperatures and requires relatively less energy during its production. It facilitates reduced consumption of natural resources like clay, shale, natural river sand, limestone, and natural rocks in the construction sector and further aids in the reduction of greenhouse gases.
The countries like India and China have been witnessing rapid growth in construction activities and significant government investments towards various infrastructural projects. The presence of a large population and the rising living standards are driving the demand for improved houses, which is aiding the market growth. Green concrete is witnessing increased utilisation in green building projects and energy-efficient building infrastructures owing to its sustainable and cost-effective nature.
Figure: Investment Needs for Building Green Will Amount to USD 1.5 Trillion in Emerging Markets in the Next Decade (USD Trillion)
Rising focus on sustainable construction; cost-effectiveness offered by green concrete; growing demand for environment-friendly construction materials; and rapid urbanisation and growing housing demand are the major factors impacting the green concrete market growth
May 2, 2023
Sika AG announced the closing of the acquisition of MBCC Group, a renowned supplier of construction chemicals, that focuses on innovation and sustainability.
Jul 19, 2022
Holcim signed an agreement with Ol-Trans to acquire the latter’s five concrete plants. Through this, the company aims to expand its ready-to-mix portfolio across Northern Poland while boosting the sales of its low-carbon ECOpact green concrete.
Jan 28, 2022
Holcim partnered with Eni, an energy expert, to examine the storage potential of CO2-loaded olivine, a widely available material, for use as a low-emission raw material in its green cement.
Jan 6, 2022
Pan-United Corporation, a concrete provider, signed an agreement for its subsidiary, FiCO Pan-United Concrete Joint Stock Company with Novaland Group to deliver sustainable concrete solutions.
Increasing construction of sustainable buildings
The rising construction of sustainable buildings owing to the escalating eco-consciousness among the population is driving the demand for greener building materials, such as green concrete.
Cost effectiveness of green concrete
Green concrete is economical as it is produced using waste products and fewer fossil fuels, thus eliminating the need for raw materials and requiring less energy.
Rising demand for environment friendly construction materials
Green concrete is an eco-friendly building material developed from construction and demolition wastes or blast furnace slag, recycled glass aggregate, and fly ash. Thus, it reduces the amount of construction waste and requires less energy during the production process. Moreover, it has a lower carbon footprint when compared to other building materials.
Rapid urbanisation driving the demand for affordable housing solutions
Growing populations and rapid urbanisation worldwide are driving the demand for affordable housing. Construction of green buildings is low-cost, efficient, and helps in environment conservation.
Nearly 39% of global carbon emissions are contributed by the construction industry. Increasing environmental awareness and rising interest in sustainable building solutions is augmenting the use of green concrete by engineers, architects, and construction companies. By utilising industrial waste and reducing carbon emissions, green concrete creates sustainable constructions.
Various leading companies are expected to develop green concrete from cement made from a unique mix of fly ash and waste materials such as gaseous carbon dioxide and ground glass, among others. Furthermore, the utilisation of sustainable building materials in infrastructure projects supports the green concrete market expansion.
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“Global Green Concrete Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Design
Market Breakup by Application
Market Breakup by Region
Based on design, reinforced cement concrete dominates the green concrete market share
Increased research activities are being conducted to improve tensile strength and lower carbon footprint of concrete via the addition of fibres and recycled/waste materials. In February 2022, Skanska initiated the trial of low-carbon reinforced concrete solution on M42 junction 6 upgrade scheme of National Highways in the UK.
Meanwhile, there is a growing demand for pre-stressed cement concrete owing to its durability, expansive shelf life, and tensile capacity. Moreover, the minimisation of cracks and reduced risk of reinforcement corrosion offered by pre-stressed cement concrete is driving its use in the construction sector.
The residential sector is a significant contributor to the global green concrete market revenue
The increasing global population is driving the demand for more houses, and the surge in eco-consciousness is resulting in the use of greener construction materials, like green concrete. The growing research activities on using alternative binding materials such as alkali-activated binders, supplementary cementitious materials, and recycled materials like wastewater to enhance the properties of green concrete when compared to regular concrete are likely to augment its use for residential building construction.
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The market players are focusing on research and development to produce green building materials and are constantly innovating to meet the growing sustainability demands.
Sika AG
Sika AG, headquartered in Switzerland, is a speciality chemicals company providing solutions for bonding, sealing, damping, reinforcing, and protection in the building sector and automotive sectors.
Holcim Ltd.
The company, established in 1912, operates across four business segments which include cement, ready-mix concrete, aggregates, and other products (including asphalt and mortar).
Saint-Gobain Group
Saint-Gobain Group, a French company, is primarily engaged in designing, manufacturing and distribution of materials and solutions for the construction, mobility, and industrial markets.
Hanson UK
Headquartered in the UK, the company is engaged in the manufacture of aggregates (crushed rock, sand, and gravel), ready-mixed concrete, asphalt, cement, and cement-related materials.
Pan-United Corporation Limited
With headquarters in Singapore, Pan-United Corporation Ltd (Pan-United) is an industry leader in ready-mix concrete and logistics.
Europe is a key demand generator for green concrete solutions. Increasing focus on promoting circularity in the construction sector has surged the use of concrete that uses recycled and waste products as raw materials to reduce carbon emissions in the region. The rising investments in innovative carbon capture technologies by various governments have significantly surged the production of carbon-neutral cement.
The strong position of the European region in the green concrete market can be attributed to widespread awareness regarding advantages of green concrete in the region and governmental regulations for sustainability of buildings. In 2021, the United Kingdom government released new targets for green residential and commercial buildings, with an aim to achieve net-zero emissions by 2050. From 2021, all residential homes are required to produce 31% lower carbon emissions.
Several construction projects already underway using green concrete. In October 2021, CEMEX S.A.B. de C.V supplied 3,500 m³ of Vertua green concrete for the construction of the P180 office building in Warsaw, Poland.
Meanwhile, in the Asia Pacific, the government is putting in efforts to increase the adoption of environmentally friendly building materials in the growing construction market. This has resulted in replacing cement with industrial waste to produce affordable green concrete solutions to build robust infrastructure while reducing its carbon footprint.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Design |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of about USD 6.31 billion in 2023.
The market is expected to grow at a CAGR of 10.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 11.45 billion by 2032.
The different types are ground granulated blast-furnace slag concrete, fly ash concrete, silica fume concrete, and others.
The key regional markets for green concrete are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The factors driving the market growth include rising sustainability concerns, growing construction activities, and favorable government initiatives for constructing green buildings.
The various applications include residential, commercial, and infrastructure.
The key players in the market include Sika AG, Holcim Ltd., Saint-Gobain Group, Hanson UK, and Pan-United Corporation Limited, among others.
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