Asia Pacific Green Cement and Concrete Market Forecast to 2030 - Regional Analysis - by Product Type (Fly Ash Based, Geopolymer, Slag Based, and Others) and End user (Commercial and Public Infrastructure, Industrial, and Residential)

The Asia Pacific green cement and concrete market is expected to grow from US$18.06 billion in 2022 to US$22.64 billion by 2030. It is estimated to record a CAGR of 2.9% from 2022 to 2030.

Improved Functional Performance and Capabilities Fuel Asia Pacific Green Cement and Concrete Market

Green cement is fabricated from aluminum silicates generated from fly ash and industrial wastes. It is termed alkali-activated cement and generates 40-45% less CO2 than conventional portland cement. Magnesium oxychloride cement is fabricated from magnesium mining byproducts known as concentrated magnesium chloride solution and magnesium oxide powder. This carbon-negative and environment-friendly cement has superior compressive strength and a quicker setting time than conventional cement. In addition, Ferrocrete cement is produced from byproducts of the steel and glass industry, primarily iron and silica. A combination of these materials is fabricated in the presence of CO2; thus, a carbon-neutral cement material is achieved. Green cement production needs fewer natural resources, owing to which very little carbon dioxide is emitted into the environment during the production process. It also does not pollute the environment by dumping toxic waste.

The production process of fabricating standard cement requires a large quantity of natural gas for heating purposes. The green cement is fabricated from industrial byproduct which makes the production process more energy efficient. Green cement presents more fire resistance and takes less setting time than other standard cement. Constructions built using green cement have a longer life span. The fabrication process of green cement follows high-end techniques that can decrease carbon discharges, causing minimum pollution.

The production of green cement requires the application of byproducts, such as blast furnace slag, fly ash silica, and iron, which are cost-effective. Green cement possesses 0.5-0.6% iron dioxide in its properties, which offers strength to the solidity and color of the cement. This cement dries out quickly and has a minimal rate of shrinkage. It endures longer and makes for a more sustainable alternative for the environment. Green cement also provides superior thermal insulation and high fire resistance. Green cement is a more viable choice for high-traffic areas such as bridges, roads, and airports, as it can endure heavy loads. Additionally, green cement can preserve natural resources, such as clay and limestone, which are limited resources that are becoming rare. Thus, green cement's higher performance level and capabilities in terms of durability, strength, and resistance propel the market.

Asia Pacific Green Cement and Concrete Market Overview

The green cement industry is experiencing robust growth in Asia Pacific, reflecting the region's booming construction sector alongside increasing environmental concerns. Countries such as China and India, major cement producers, have recognized the need to transition to more sustainable cement production practices. This transition has led to increased investment in research and development of green cement technologies, including the use of fly ash and slag, as well as the implementation of cleaner and more energy-efficient manufacturing processes. For instance, JSW is transforming the cement and concrete industries by developing and distributing green cement and cementitious materials manufactured from blast furnace slag, a byproduct of the steel industry. The shift toward green cement aligns with the region's commitment to sustainable development and emission reduction attempts.

Established economies and technological advancements support the growth of diversified industries and markets in Asia Pacific. The presence of a large population in APAC has led to increased demand for residential as well as commercial construction. The region comprises several developing economies, including India and many other Southeast Asian countries, which poses a strong demand for more infrastructure projects. Further, governments of various countries are taking various measures to attract private investments in infrastructure development projects. Increasing investments in residential and commercial construction projects are boosting the demand for advanced building materials, including green cement and concrete solutions, in APAC countries.

In addition, in 2023, ACC Cement, a subsidiary of Adani Cement, launched its new product, ACC ECOMaxX, a green concrete product. ACC ECOMaxX is the industry's most comprehensive green concrete solution, with a lower embodied carbon content of 30 to 100% compared to a reference concrete constructed using OPC. The products are created using a proprietary Green Ready-Mix Technology that maximizes green effect by reducing CO2 emissions by up to 100%.

Moreover, in 2023, Ambuja Cement announced placing orders to expand its clinker capacity by 8 million tons. This capacity expansion project is expected to support the production of green cement of 14 million tons. Further, China's construction industry expanded as the country increased infrastructure expenditure to stimulate economic growth in 2022. The latest excavator index, a barometer of the country's infrastructure and fixed-asset investment, showed increased construction activity in 2022. Several industry-recognized green cement and concrete market players have a presence in APAC, which leads to the easy availability of formwork solutions to the construction industry players. The smooth supply chain of formwork solutions significantly supports the growth of the market. Such government initiatives and key player investment to increase the production capacities and new product development in the region have driven the green cement and concrete market.

Asia Pacific Green Cement and Concrete Market Segmentation

The Asia Pacific green cement and concrete market is segmented into product type, end user, and country.

Based on product type, the Asia Pacific green cement and concrete market is segmented into fly ash based, geopolymer, slag based, and others. The fly ash-based segment held the largest share of the Asia Pacific green cement and concrete market in 2022.

In terms of end user, the Asia Pacific green cement and concrete market is segmented into commercial and public infrastructure, industrial, and residential. The commercial and public infrastructure segment held the largest share of the Asia Pacific green cement and concrete market in 2022.

Based on country, the Asia Pacific green cement and concrete market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific green cement and concrete market in 2022.

ACC Ltd, UltraTech Cement Ltd, China National Building Material Co Ltd, Anhui Conch Cement Co Ltd, Holcim Ltd, JSW Cement Ltd, Navrattan Green Cement Industries Pvt Ltd, Cemex SAB de CV, and HeidelbergCement AG are some of the leading companies operating in the Asia Pacific green cement and concrete market.