North America Green Cement and Concrete Market Revenue to cross US$ 6,129.92 million by 2030

At 7.6% CAGR, North America Green Cement and Concrete Market is Speculated to be Worth US$ 6,129.92 Million by 2030, says Business Market Insights

According to Business Market Insights research, the North America green cement and concrete market was valued at US$ 3,423.61 million in 2022 and is expected to reach US$ 6,129.92 million by 2030, registering a CAGR of 7.6% from 2022 to 2030. Increasing concerns for mitigating carbon emissions globally, improved functional performance and capabilities, and favorable government initiatives and policies are among the critical factors attributed to the North America green cement and concrete market expansion.

Cement production is one of the highest carbon-emitting industries, accounting for ~8% of the total global CO2 emissions in 2022 as per the International Energy Agency Report. Cement is among the materials that are an integral part of modern civilization. From high-rise skyscrapers to dams and bridges, from residential homes to industrial buildings and commercial facilities, cement is the backbone of the ecosystem. However, the conventional cement production process involves a huge amount of carbon emission, increasing environmental pollution and fueling climate change worldwide. The harmful effect of conventional cement production is one of the key reasons behind the growing environmental pollution levels. With the growing concern toward environmental protection, different governments are keen on identifying ways to make the cement production industry more sustainable and eco-friendlier. The concept of green cement production from industrial waste is one of the revolutionary ways that has the potential to mitigate the level of greenhouse gas emissions along with the carbon footprint in the cement industry. The US aims to achieve net-zero emissions by 2050. By 2050, all Federal operations are expected to have net-zero emissions, according to the ambitious Federal Sustainability Plan. To meet this aim, the Federal Government will convert its infrastructure to carbon-pollution-free electricity (CFE)-powered zero-emission buildings and cars (ZEVs). Additionally, it will restructure its business to create a net-zero supply chain, mandate that federal agencies establish targets for lowering greenhouse gas (GHG) emissions and collaborate with top national and international organizations to hasten development. The Federal Government will hasten the nation's shift to a clean energy economy by utilizing its procurement power. Further, in 2021, the Canadian Net-Zero Emissions Accountability Act was enacted. Canada is committed to attaining net zero emissions by 2050. The growing governmental focus on attaining net zero carbon emissions is a significant factor boosting the application of green cement and concrete in the construction industry. The goal of decarbonizing the environment with measures such as using more sustainable and eco-friendly alternatives is one of the major driving factors for the green cement and concrete market.

On the contrary, lack of awareness and reluctance to use green cement and concrete hampers the North America green cement and concrete market.

Based on product type, the North America green cement and concrete market is segmented into fly ash based, geopolymer, slag based, and others. The fly ash-based segment held 41.1%share of North America green cement and concrete market in 2022, amassing US$ 1,405.64 million. It is projected to garner US$ 2,271.70 million by 2030 to expand at 6.2% CAGR during 2022-2030.

In terms of end user, the North America green cement and concrete market is categorized into commercial and public infrastructure, industrial, and residential. The commercial and public infrastructure segment held 62.9% share of North America green cement and concrete market in 2022, amassing US$ 2,921.51 million. It is projected to garner US$ 5,299.91 million by 2030 to expand at 7.7% CAGR during 2022-2030.

By country, the North America green cement and concrete market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 5.2% share of North America green cement and concrete market in 2022. It was assessed at US$ 2,887.72 million in 2022 and is likely to hit US$ 5,241.79 million by 2030, exhibiting a CAGR of 7.7% during 2022-2030.

Key players operating in the North America green cement and concrete market are China National Building Material Co Ltd, Green Cement Inc, Anhui Conch Cement Co Ltd, Holcim Ltd, Navrattan Green Cement Industries Pvt Ltd, Cemex SAB de CV, and HeidelbergCement AG, among others.