Green Concrete: Introduction
- Governments of countries in the European Union and the U.S. Government have taken a number of initiatives for promoting applications of materials that are recyclable for construction activities. The utilization of green concrete helps lowering of greenhouse emission gases and consumption of natural resources such as natural rocks, limestone, natural river sand, shale, and clay in the construction industry. Coal-fired power plants help produce fly ash, a by-product that can be used in place of natural concrete in construction.
Key Drivers and Restraints of Global Green Concrete Market
- Increase in concerns about carbon emission across the globe is boosting the green concrete market. The global green concrete market is predicted to be driven by the rising preference for environment sustainability and protection. Increase in shift of manufacturers toward environment-friendly alternatives from conventional synthetic concrete is expected to fuel the market. Growth of the construction industry in China, India, and countries of the Middle East due to the increasing regulatory support for the improvement of infrastructure is also poised to fuel the global green concrete market. Manufacturers of chemicals have increased their expenditure on the production of naturally-derived chemicals in order to lower the dependence on natural gas and crude oil as feedstock. This is also anticipated to boost the market in the near future.
- Difficulty in access of raw materials owing to its unavailability in major regions is likely to hamper the green concrete market during the forecast period. Nevertheless, growth of building & construction activities in Asia Pacific is expected to offer lucrative opportunities to the market.
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Green Concrete: End-user Segment
- In terms of end-user, the global green concrete market can be segmented into industrial, commercial, and residential
- The commercial segment accounted for significant share of the global green concrete market in 2020. It is projected to expand at a rapid pace during the forecast period. Rapid growth of commercial construction in Asia Pacific is expected to drive the commercial segment of the market during the forecast period.
COVID-19 Impact on Green Concrete Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The COVID-19 pandemic has severely hampered the construction industry. Ongoing projects are getting delayed, while sanctioned projects have been put on hold. These factors are expected to negatively impact the green concrete market, as green concrete is used on a large scale in the buildings & construction industry.
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Asia Pacific to Dominate Green Concrete Market
- In terms of region, the global green concrete market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is poised to hold promising share of the global green concrete market in the near future owing to the rising government support in China and India to enhance domestic infrastructure. These countries are taking measures such as raising tax benefits and offering foreign direct investments to expedite infrastructure development. This is likely to boost the demand for green concrete.
- Middle East & Africa is also likely to be a lucrative region of the global green concrete market owing to the proliferation of favorable policies by governments of these countries to achieve sustainable development. Europe is also estimated to offer promising opportunities to the green concrete market due to favorable policies implemented by governments of countries in the region.
Key Manufacturers Operating in Global Green Concrete Market
The global green concrete market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Companies operating in the market are adopting various organic and inorganic growth strategies to expand their product portfolio and geographical reach. Key manufacturers operating in the global green concrete market include:
- CeraTech Inc
- Eco Green Co.
- CICO Technologies Ltd.
- Chryso SAS
- Cemex C.B.
- Pidilite Industries
- The Dow Chemical Company
- Rpm International Inc.
- Maipei Ltd
Global Green Concrete Market: Research Scope
Global Green Concrete Market, by End-user
Global Green Concrete Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Companies in the Green Concrete market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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