The global green cement market is forecast to grow at 14.95% during 2016-2020 with increased use of waste as alternative fuels play major role in this growth, says a new report.
The report, Global Green Cement Market 2016-2020, says the use of wastes such as used tires, solid recovered fuels, used oils, animal meal, sewage sludge, foundry sands, fly ashes, and filter cakes as fuel in cement kilns helps reduces CO2 emissions during the cement production process.
Developing innovative methods for use in the cement business could minimize the cement market waste and pollution to a large extent. Many options such as energy efficiency, alternative fuels, and clinker substitution are anticipated to reduce air pollutants emanating from cement plants.
By investing in R&D and involving modeling techniques such as designing of processes, the cement market will minimize air pollution and comply with existing regulations for protection of the environment in the future, the report says.
According to the report, from RnR Market Research, a key growth driver for green cement market is the rise in urbanization. A number of countries are observing the large-scale migration of the population from rural areas to urban areas. The present growth rate of the population of India (1.55% YoY basis) is more than double the growth rate of China’s population (0.66% YoY basis).
It is likely that the population in rural areas will be moving to urban areas rapidly during the forecast period. So, with an increase in urban population, problems such as traffic congestion, shortage of housing, and increasing passenger traffic will arise. To meet the needs of such a large scale migration, countries around the world are focusing on developing infrastructure.
Declining family household size and rising interest for residential projects in urban regions will bolster the building and construction segment, especially in developing economies of the world. Rural to urban migration will be especially high in APAC and MEA.
The non-residential sector in the US will grow after a period of descent, leading to the growth of the global non-residential market. To meet the demand from increasing population for entertainment, education, and healthcare infrastructure, developing economies such as China, India, Indonesia, and Brazil will invest heavily in the non-residential segment. This will further bolster the global sales of cement.
The rise in demand for energy infrastructure in African countries such as Nigeria, South Africa, Ghana, and Egypt will also add to the high cement demand. Middle Eastern countries, including the UAE, Qatar, and Saudi Arabia, are also likely to develop their tourism infrastructure during the forecast period.
The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global green cement market for 2016-2020.??Further, the green cement market report states that one challenge that could restrict market growth is the increase in construction costs.