Growing Adoption of Green Buildings to Positively Impact Green Concrete Market Growth

Market Analysis of the Green Concrete Market

Green Concrete Market Size Is Expected to Grow At A Significant CAGR Of 9.45% Along With Market Value Of USD 44.65 Billion During The Forecast Period 2021-2028. states the recent Market Research Future (MRFR) analysis. Green concrete is a form of concrete that is made from eco-friendly concrete wastes. It ensures a sustainable structure as well as a long-life cycle and a low maintenance surface that helps to reduce the impact of the concrete on the environment such as wastewater, carbon dioxide emissions, energy savings, and others. Infrastructures, industrial, commercial, and residential are the major end users of green concrete. 

 Various factors are propelling the global green concrete industry share. As per the current MRFR report, such factors include the growing demand for sustainable and cost-effective building materials in the construction sector, the rising urban population that has increased the need for infrastructure for catering to the surging demand for water, power, and food, favorable initiatives undertaken by different organizations, and the growing adoption of green buildings. 

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On the contrary, volatility in crude oil cost, shortage of raw materials, the higher price of green concrete over conventional products, and the ongoing COVID-19 impact are factors that may impede the global green concrete market growth over the forecast period. 

Key Players

Leading contenders profiled in the global green concrete market report include 

BASF (Germany)
Maipei Ltd (US)
Rpm International Inc. (US)
The Dow Chemical Company (US)
Pidilite Industries (India)
Cemex C.B. (Mexico)
Chryso SAS (France)
CICO Technologies Ltd. (India)
Eco Green Co. (China)
and CeraTech Inc (US)
among others.

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Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global green concrete market based on end users. 

 By end users, the global green concrete market is segmented into infrastructure, industrial, commercial, and residential. The commercial segment is again segmented into research and development centers, healthcare, institutional, public facilities, and others. Of these, the commercial segment will command the largest share in the market over the forecast period. Rising practices of sustainable building construction in the construction sector are adding to the growth of the segment. Green concrete, especially in commercial building construction, has been introduced as a vital solution. With the growing focus on sustainable and cost-effective construction solutions, its demand is growing at an accelerated pace. This will be followed by the residential construction sector that is predicted to grow at a high CAGR for the increasing adoption of sustainable products and a rise in urbanization. 

Regional Analysis

By region, the global green concrete industry has been segmented into North America, Asia Pacific (APAC), Europe, South America, and the Middle East & Africa (MEA).

Europe had dominated the global green concrete industry in 2018. The green concrete market is in the emerging stage and is currently confined to developed economies; however, increasing awareness about the benefits of green concepts would encourage its adoption of in developing countries in the coming years.  It dominated the market in terms of revenue owing to the growing applications of green concrete as the building material in this region. Initiatives by the European Union (EU) to promote the application of recycled products as construction materials can drive the regional demand.  Recently, Aggregate Industries launched green concrete solutions in the U.K. with varying degrees of carbon concrete as part of their offerings to realty moguls.

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APAC is considered to be the fastest-growing region in the global green concrete market. This can be attributed to commitments by China and other developing economies in constructing green cities that adhere to international standards. In addition, the development of green concrete by using wind-blown sand and natural soil can halve the construction time and cost of buildings.

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