Middle East Green Cement Market: Current Analysis and Forecast (2023-2030)
Emphasis on Product Type (Fly Ash Based, Slag Based, Geopolymer, and Others); Application (Residential and Non-residential); and Country
Geography:
Industry:
Last updated:
Oct 2023
The Middle East Green Cement market was valued at USD 1,416.9 Million in 2022 and is expected to grow at a strong CAGR of around 13.4% during the forecast period (2023-2030). The Middle East green cement market is experiencing significant growth due to increasing environmental concerns and sustainable construction practices. Green cement, also known as environmentally friendly cement, is a type of cement that emits fewer greenhouse gases and consumes less energy during its production compared to traditional cement. One of the primary drivers behind the growth of the green cement market in the Middle East is the rise in infrastructure development in the region. Countries such as the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait are investing heavily in large-scale infrastructure projects, including airports, stadiums, and residential complexes. Another key driver for the green cement market in the Middle East is the strict regulations and sustainability targets set by governments in the region. Governments are actively promoting sustainable construction practices and encouraging the use of environmentally friendly materials. For example, Dubai’s Green Building Regulations require the use of green cement in all construction projects.
Some of the major players operating in the Bechtel Power Corporation, CEMEX S.A.B. de C.V., CRH plc, Green Concrete Company CJSC, HeidelbergCement AG, Kiran Global Chem Limited, LAFARGE, Pioneer Cement Company, Siam Cement Public Company (SCG), and Taiheiyo Cement Corporation. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the fly ash based category to hold a dominant share of the market in 2022”
Fly ash based green cement led the market in 2022, with the highest market share. The use of green cement, which is made from fly ash, is becoming widely popular worldwide because it offers the benefits of utilizing a waste product and reducing carbon emissions. By incorporating fly ash, a residue from coal-fired power plants, into cement mixtures, the amount of clinker used is decreased, resulting in a lower overall carbon footprint in the production of cement. This approach effectively addresses environmental concerns by lessening CO2 emissions associated with conventional cement manufacturing.
“Amongst application, the MOBA category to hold a dominant share of the market in 2022”
The residential segment led the market in 2022, with the highest market share. The construction activities in the residential sector are experiencing a notable surge, accompanied by a growing focus on sustainable building practices. Homeowners and developers are giving high priority to energy-efficient and eco-friendly homes, leading to an increased demand for green cement in residential construction. The environmentally friendly nature of green cement, which results in a lower carbon footprint, resonates with the preferences of environmentally conscious consumers and also complies with green building certifications.
Middle East Green Cement Market Report Coverage
“Saudi Arabia to grow with high CAGR during the forecast period”
Saudi Arabia has been a major player in the cement industry due to the country’s rapid infrastructure development. However, the cement industry is also one of the largest contributors to greenhouse gas emissions in the country. As a result, there is a growing focus on the adoption of green cement to reduce carbon emissions and promote sustainability in the construction sector. Several initiatives and projects have been launched in Saudi Arabia to promote the production and use of green cement. In 2017, the Saudi Arabian Cement and Construction Materials Industry announced the launch of the “Green Cement” initiative, aiming to reduce carbon emissions and promote sustainable cement production in the country. Major cement companies in Saudi Arabia, such as Saudi Cement Company and Yanbu Cement Company, have started to produce green cement and are investing in research and development to improve the quality and efficiency of their green cement products.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Middle East Green Cement Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the Middle East Green Cement market were the three major steps undertaken to create and analyze the adoption of Middle East Green Cement in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Middle East Green Cement market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Middle East Green Cement market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Middle East Green Cement market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Middle East Green Cement market. Further, we conducted factor analysis using dependent and independent variables such as product type and application of the Middle East Green Cement market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Middle East Green Cement market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Middle East Green Cement market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Middle East Green Cement market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Middle East Green Cement market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of Green Cement Market in the Middle East Region
arket Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Middle East Green Cement market. The data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type and application of the Middle East Green Cement market.
The main objective of the Middle East Green Cement Market Study
The current & future market trends of the Middle East Green Cement market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Middle East Green Cement market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product type and application
- Define and analysis of the regulatory framework for the Middle East Green Cement industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Middle East Green Cement market for the major region
- Major countries of regions studied in the report include Saudi Arabia, UAE, Egypt, Iran, and the Rest of Middle East
- Company profiles of the Middle East Green Cement market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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