According to Exactitude Consultancy the Global Supplementary Cementitious Materials Market value is expected to reach USD 17 billion by 2029, growing at a 5.37% CAGR of Between Forecast Period 2023 and 2028.
Luton, Bedfordshire, United Kingdom, March 18, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Supplementary Cementitious Materials Market.
The Global Supplementary Cementitious Materials Market is expected to grow at more than 5.37% CAGR from 2022 to 2028. It is expected to reach above USD 17 billion by 2028 from a little above USD 12 billion in 2021. The market growth is driven by the increasing demand for sustainable construction practices and the growing awareness about the environmental impact of cement production.
Fly ash is the largest segment of the Supplementary Cementitious Materials market, accounting for over 50% of the total market share. Fly ash is a by-product of coal combustion and is commonly used as an SCM in concrete mixtures. Other SCMs such as slag, silica fume, and natural pozzolans are also used in concrete mixtures to enhance their properties.
The construction industry is the largest end-user segment of the Supplementary Cementitious Materials market, accounting for over 75% of the total market share. The use of SCMs in concrete mixtures provides several benefits such as increased strength, durability, and reduced carbon dioxide emissions. The growing demand for sustainable construction practices is driving the demand for SCMs in the construction industry.
Asia Pacific is the largest market for Supplementary Cementitious Materials, accounting for over 40% of the total market share. The region is expected to continue its dominance during the forecast period, driven by the increasing demand for sustainable construction practices in countries such as China, India, and Japan. North America and Europe are the other significant markets for Supplementary Cementitious Materials, driven by the growing awareness about the environmental impact of cement production and the increasing adoption of SCMs in the construction industry.
Overall, the Supplementary Cementitious Materials market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable construction practices and the growing adoption of SCMs in concrete mixtures to enhance their properties and reduce their environmental impact.
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Supplementary Cementitious Materials Market Overview
The supplementary cementitious materials market is estimated to register a CAGR of over 5.37% during the forecast period.
The delaying and shutting down of construction activities owing to the prolonged lockdowns and strict social distancing norms resulted in hampered demand for supplementary cementitious materials (SCM) globally. Disruptions in the supply chain and rising inflation have resulted in a brief slowdown in the growth of construction activities, thereby hindering the growth of the SCM market.
Report Attribute | Details |
Supplementary Cementitious Materials Market size value in 2021 | USD 12 billion |
Revenue forecast in 2028 | USD 17 billion |
Market Growth rate | CAGR of 5.37% from 2022 to 2028 |
Base year for estimation | 2021 |
Historical data | 2018 - 2020 |
Forecast period | 2022 - 2028 |
Quantitative units | Revenue in USD Million, volume in units, CAGR from 2022 to 2028 |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, trends |
Segments covered | |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | U.S.; Canada; Mexico; Germany; France; Italy; U.K.; China; India; Japan; Brazil; Saudi Arabia |
Key companies profiled | Boral, HeielbergCement, LafargeHolcim , Cemex, Agros, Sika , Ferroglobe, Charah Solutions, Elkon, Elkem, Imerys , Cementec, Titan America, SEFA Group, and Urban Mining Northeast. |
Customization scope | Free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Companies Covered in Supplementary Cementitious Materials Market Report:
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Key Market Segments: Supplementary Cementitious Materials Market
By Type
By Application
By End User Industry
By Region
Supplementary Cementitious materials Market, by Region
Asia-Pacific accounted for a maximum share in the global SCMs market, owing to the presence of large number of manufacturers in the region. Increasing urbanization in developing countries including India and China along with rise in industrial, commercial and residential construction will fuel the market demand in the construction industry. However, less awareness about SCMs benefits in construction among the architectures and builders will hamper the market in forecast period.
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