The most recent study conducted by Report Ocean, titled “Global Green Concrete Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Green Concrete . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Green Concrete Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Green concrete is defined as concrete that contains material that may be used as a partial or total substitute for concrete or coarse aggregates.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The material used to replace typical concrete products might be leftovers from the manufacturing process. Green concrete provides for a decrease in greenhouse gas emissions as well as a reduction in the consumption of natural resources such as clay, shale, natural river sand, limestone, and natural rocks in the building sector. The worldwide green concrete market is estimated to expand during the forecast period as a result of rising social awareness about eco-friendly goods.
The construction industry’s preference for eco-friendly goods over synthetic-based chemicals in order to minimise greenhouse emissions is expected to boost market growth. The Europe 2020 strategy aims to cut greenhouse gas emissions by 20%, increase energy produced from renewable sources by 20%, and increase energy efficiency by 20%. The policy aims to encourage the purchase of environmentally friendly products while also providing member states with tax breaks on their use.
Rapid industrialization and urbanization have increased demand for tunnels, highways, bridges, water retention structures, warehouses, and housing, which is likely to benefit the green concrete industry.
Green building certification programmes like LEED and the ICC 700 National Green Building Standard are projected to boost demand for green building projects in the future. The number of LEED-certified projects in the United States climbed from 296 in 2006 to over 67,200 in 2018. Fluctuating crude oil prices, depletion of Middle Eastern petroleum reserves, and are projected to propel industry expansion. Reduced utility use for the manufacture of green concrete is projected to be a market driver. Governments in the United States and the European Union are taking steps to promote the use of recyclable materials in building. The establishment of a recycling programme by the United States government in Michigan State for contractors and their surplus goods in order to develop heaps of unused concrete, gravel, pea stone, and granite to hundreds of feet and then crush them to produce sub-base for driveways and roads.
This initiative is assisting contractors in reducing disposal costs and is likely to be adopted for use in concrete mixtures. Auscrete Corporation announced the development of a green technology for the building of sustainable, energy-efficient, and long-lasting contemporary dwelling in April 2021. Auscrete Corporation constructs “GREEN” energy-efficient houses employing exclusive patented technology in lightweight concrete hybrid insulated housing materials. However, the high cost of Green Concrete stifles market growth throughout the forecast period of 2022-2028.
The key regions considered for the Global Green Concrete Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is projected to be a potential market for green concrete due to domestic government initiatives that encourage the bio-economy. Because of the significant increase in building investment by the governments of India and China, Asia Pacific is likely to be a promising market for green concrete in the near future. Government initiatives that encourage infrastructure development, such as tax breaks and the entrance of foreign direct investment in India, are projected to boost demand for green concrete.
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Major market player included in this report are:
The Dow Chemical Company
Eco Green Co.
Rpm International Inc.
BASF
Cemex C.B.
Pidilite Industries
Mapei Ltd.
Chryso SAS,
CICO Technologies Ltd.
Lafarge Holcim
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Industrial
Commercial
Residential
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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