Global green cement market was valued at $14,947 million in 2016, and it is estimated to reach at $36,481 million by 2023. In 2016, Europe accounted for the highest share in the global market. However, the Asia-Pacific region is expected to surpass the European share of the market. The residential segment has accounted for nearly half of the market share, but the commercial segment is estimated to grow at a CAGR of 14.5% from 2017 to 2023, in terms of revenue. The market is also expected to witness various technological developments during the forecast period due to emerging technologies, such as LC3 and Ferrocrete, which are expected to improve the effectiveness of green cement. The increase in environmental degradation and rise in greenhouse gas emission in the atmosphere have also led several international agencies affiliated with the UN and other organizations to use green cement.
Photo credit: Solidia Technologies