GREEN CEMENT MARKET
Growing for sustainability
The cement industry accounts for more than 5% of global carbon dioxide emissions. The majority of these emissions are due to the decarbonation of limestone and the energy required to heat materials in a rotating kiln to temperatures exceeding 2,600 degrees Fahrenheit.
The cement industry has been focusing on continuing to manufacture a superior product while improving energy efficiency and minimizing emissions. Portland Cement Association members are committed to reducing CO2 emissions 10% by 2020 from a 1990 baseline. The association is working to improve energy efficiency by 20% by the same deadline. Many companies have their own goals that exceed these benchmarks. Large companies have already reported they have achieved more than 20% reduction in CO2 emissions. Manufacturers are also progressing toward these goals by employing innovative practices. Most involve improving kiln energy efficiency, using alternative fuels rather than fossil fuels and producing less-carbon-intensive cements. Some are even experimenting with capturing waste heat to generate electricity.
While producers are continuing to work on reducing environmental impacts, research is taking place to find other ways to reduce emissions.
Green cement is a cementitious material made from industrial waste that can reduce the carbon footprint of construction activities by 40-50 percent. Green cement is known to offer good insulation; make structures resistant to moisture and offer protection against corrosion as well.
A new report by Transparency Market Research predicts the global green cement market to reach $38.1 billion by 2024, expanding at a CAGR (compound annual growth rate) of 11.3 percent between 2016 and 2024.
Slag-based cement accounted for the major share of the market. Green cement is primarily used in the residential sector, but the usage of green cement in non-residential complexes and infrastructure is also rising rapidly.
Europe accounted for a significant share in he market in 2015 followed by Asia Pacific. This is expected to continue during the forecast period due to the increasing demand for sustainable products. Rising stringent regulation on carbon emission, emphasis on creating zero waste regions and implementation of carbon taxes are some of the factors fueling the market. Further rise in population is another factor that is expected to propel the market in Asia Pacific. The Middle East & Africa is also projected to be a lucrative market for green cement in the next few years due to the rise in construction activities, coupled with increase in demand for sustainable product.