Green concrete Market: Overview
Green concrete also known as geo-polymer concrete is a construction material that can withstand high temperatures, is fire resistant, has great resistance to corrosion and has good solar reflectivity. Green concrete consumes relatively less energy in production and emits less carbon dioxide in comparison to conventional cement, making it an eco-friendly solution. In United State Green Building Council has established Leadership in Energy and Environmental Design (LEED) program for promoting the using of recycled material for reduces the wastes. Such initiatives across the geography creates a positive growth environment for green concrete market. Existing and upcoming regulations has resulted in increased consumption of these advanced construction material. The growth prospects for the market are anticipated to remain positive throughout the forecast period. The market will witness advancement in material technology. Manufacturers in the market are anticipated to focus on cost effective manufacturing techniques, so as to reduce cost of the product, which in turn help in increasing the consumption.
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Green Concrete Market: Dynamics:
Rapid industrialization and urbanization has increased the demand for roads, houses, water retention structure, tunnel, bridges and are triggering the global green concrete market. The global Green Concrete market is expected to be increased by rising inclination for environment sustainability, durability and protection. Furthermore, increasing shift of manufacturer headed for ecofriendly concrete from conventional concrete will increase this market.
Due to fluctuating crude oil price, lack of awareness, weakening of petroleum reserves, and unavailability of raw material are expected to hinder the global Green concrete market. Stringent carbon emission norms by International Energy Agency (IEA) is indirectly also expected to affect the growth global green concrete market. Another prime factor which has resulted in slow adoption of green concrete is the relatively higher cost as compared to available conventional products, with lack of awareness consumers are more attracted towards economic products. However, government bodies has been trying to promote using of recyclable material for construction.
Green Concrete Market: Segmentation:
The global green concrete market can be segmented on the basis of product type and application. On the basis of product type the global green concrete market can be segmented into: cement concrete and lime concrete. On the basis of design, the market for green concrete can be segmented into plain cement concrete, reinforced cement concrete, pre-stressed cement concrete. On the basis of application the global green concrete market can be segmented into: Residential, Industrial, Infrastructure and Framing.
Green Concrete Market: Key Participants:
Examples of some of the market participants in the global green concrete market, identified across the value chain include:
- Rpm International Inc.
- The Dow Chemical Company
- Pidilite Industries
- Eco Green Co.
- BASF SE
- CICO Technologies Ltd
- Cemex C.B
- Chryso SAS
- Mapei Ltd.
- Bonded Hudson NY
Green concrete Market: Region-wise Outlook:
Asia Pacific is expected to be among fast growing market for green concrete over the forecast period owning to increase in construction spending and domestic infrastructure by government. Countries such as India and China are anticipated to be the major contributor to the growth of the market. Furthermore, government of India has announced a five year plan for promoting the construction of roads, houses, rails and offices, this policy is also expected to result increase the demand for construction materials, which in turn will bolster growth of green concrete market. European government has implemented construction product regulation for promoting the usage of ecofriendly cement.
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Latin America is expected to emerge as an attractive destination for consumption of green concrete, government in the region has implemented various Infrastructure plan in different sectors such as housing, communication, water, transport and tourism which in turn will help market to grow. Furthermore, Middle East countries has always been early adopters of advanced construction technology, the market in the region for green concrete is expected to witness steady growth.