인도의 그린 시멘트 시장 평가 : 원재료별, 용도별, 제품 유형별, 지역별 기회 및 예측(2018-2032년)

India green cement market is projected to witness a CAGR of 5.28% during the forecast period FY2025-FY2032, growing from USD 2.27 billion in FY2024 to USD 3.43 billion in FY2032. The regional market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to the expanding Indian construction sector and the rising need for environment-friendly construction materials.

The construction sector in India is booming and witnessing high demand for eco-friendly building materials to meet the rising demand for sustainability. In the past, traditional Portland cement played a key role in construction projects. However, people now recognize its harmful effects on the environment, which drives the demand for green cement in India as green cement has zero carbon emissions. Green cement comes from industrial waste products like fly ash and blast furnace slag, making it a more energy-efficient and eco-friendly option than regular cement. Furthermore, the Indian government is promoting green cement production by offering tax cuts, and incentives. Advancements in eco-cement technology have also helped manufacturers boost efficiency and reduce environmental damage. These improvements include using less clinker and making cement that lasts longer while producing fewer carbon emissions.

The growing popularity of eco-construction methods, along with the trend towards urbanization and the rising interest in conscious infrastructure, has significantly increased the need for green cement products in the market. Furthermore, the government is backing the domestic producers and construction firms moving towards sustainable materials. Various certifications that showcase companies' efforts to protect the environment also play a part in this trend.

For instance, JSW Cement is the nation's first cement manufacturer to receive the prestigious GreenPro Certification for Portland Slag Cement (PSC) from the CII-IGBC (Confederation of Indian Industry - Indian Green Building Council) thanks to three of its products: Portland Slag Cement (PSC), Composite Cement (CC), and Ground Granulated Blast Furnace Slag (GGBS). Additionally, JSW has the necessary EPDs for its PSC and GGBS products, which aid in obtaining USGBC certification.

Continuous Technological Advancements Fuel Market Growth

The production of cement consumes a lot of energy and depends on fossil fuels and electricity. Green energy technologies have a positive impact on boosting productivity and cutting reliance on fossil fuels. Innovations like waste heat recovery systems and streamlined production methods offer big cuts in energy use and greenhouse gas output.

Carbon capture and storage (CCS) technology is another big step forward. It aims to trap CO2 emissions from cement plants to prevent them from entering the air. Cement production comprises high-temperature processes and generates substantial waste heat. Implementing waste heat recovery systems, such as heat exchangers and Organic Rankine Cycle (ORC) units, can convert this waste heat into electricity or be repurposed for other industrial processes. These technologies improve energy efficiency and support sustainability efforts in the cement manufacturing sector.

For instance, in June 2024, Shree Cement achieved 1,000 MW installed power capacity, including solar, wind, and waste heat recovery, highlighting significant technological advancements in sustainable energy for cement production.

Rising Awareness of Environmental Impact

The cement industry is witnessing a shift in consumers towards environmentally friendly products. Moreover, the negative impact of traditional cement on the environment and increasing consumer awareness about sustainability are driving the demand for green cement. Green cement responds to these concerns by providing a more sustainable option compared to traditional cement, in line with the rising focus on environmental issues. This growing persistence for green cement or eco-friendly building materials will eventually lower carbon emissions and lessen carbon footprint. Associations in India are partnering with global firms to raise awareness and accelerate the adoption of green cement in the construction industry. For instance, in October 2024, the GCCA India and Xynteo's Build Ahead coalition partnered to drive green cement adoption and decarbonize India's construction sector. Over two years, they will develop low-carbon cement standards and an India-specific green taxonomy to promote sustainable materials. This initiative supports green public procurement and aligns with India's 2070 net-zero goal by encouraging the use of eco-friendly cement alternatives

The move towards green cement is also being propelled by strict environmental regulations and policies aimed at cutting down greenhouse gas emissions in the construction sector. This emphasis on sustainability promotes the creation and use of cement products that not only fulfill performance requirements but also aid in environmental conservation.

For instance, in June 2023, JSW Cement secured a USD 50 million sustainable linked loan from BNP Paribas Singapore for its environmental initiatives. As per the company, the loan is taken to continue its commitment towards environmental, social, and governance goals (ESG).

Dominance of Fly Ash in Raw Material

Fly ash dominates the market due to abundant availability, as it is an inevitable waste/by-product generated in the production of thermal energy, most commonly through the combustion of coal. High-quality fly ash possesses several properties that make it a great value addition to the cement industry.

Blending fly ash with cement offers numerous benefits such as reducing water demand in concrete while also increasing its workability and pump ability. In the later stages of hardened concrete, it increases the compression strength compared to ordinary Portland cement (OPC). Fly ash also reduces water and chloride permeability at later stages, increases protection of reinforcement, and substantially increases resistance to sulfate attack.

For instance, in June 2024, UltraTech cement allied with Bharat Aluminium Company Limited (BALCO), India's leading aluminum producer and a part of Vedanta Aluminium, for the supply of fly ash, a by-product of thermal power generation at their Korba aluminum plant. This collaboration aims to accelerate UltraTech Cement Limited's efforts to reduce its carbon footprint in cement production.

South India Dominates in India Green Cement Sector

India's southern region is becoming a key player in the India green cement market, experiencing significant growth due to an extensive rise in construction. Substantial investments in increasing production capacity by building more cement plants have enhanced the availability and adoption of green cement in these areas. The rise in green cement production and usage has been driven by government subsidies and initiatives aimed at reducing carbon emissions and fostering sustainable development. The progress of green cement technology and its integration requires active collaboration between manufacturers and consumers in the industry.

For instance, in August 2024, Adani Group-led Ambuja Cement Ltd acquired Penna cement at an enterprise value of USD1,255.66 million. This acquisition will allow Ambuja cement to penetrate the southern region of the country easily and potentially increase its reach to Sri Lanka via sea routes.

Future Market Scenario (FY2025 - FY2032)

The growing demand for sustainable materials in sectors such as residential, commercial, and infrastructure construction is expected to drive market growth.

Innovation in cement production technology and the use of alternative raw materials are anticipated to significantly impact market expansion.

Supportive government policies, such as green building codes and carbon pricing, are expected to enhance the usage of green cement.

Key Players Landscape and Outlook

Key participants in India green cement market adopt different strategies to expand in the market. Collaborations, mergers, participation, product launches, and high-end market research are some of the leading strategies that India green cement manufacturers adopt. Furthermore, companies adopt new technologies to deliver higher precision and productivity.

In April 2024, Navrattan Group announced its plan to enter the eco-friendly cement market in the country with an investment of USD 60 million to establish a manufacturing facility in Mumbai. According to the company, the plant is projected to have a production capacity of 500000 tons per annum.

For instance, in June 2024, UltraTech Cement acquired a stake in India Cement to increase its influence in the southern part of India. This strategic move is set to more than double Ultratech's production capacity to over 45 million tons per annum (MTPA).

Table of Contents

1. Research Methodology

2. Project Scope and Definitions

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Brand Name
  • 4.3.2. Quality
  • 4.3.3. Quantity
  • 4.3.4. Price
  • 4.3.5. Product Specification
  • 4.3.6. Shelf-life
  • 4.3.7. Availability of Product

5. India Green Cement Market Outlook, FY2018-FY2032

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
  • 5.1.2. By Volume
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Raw Material
    • 5.2.1.1. Fly Ash
    • 5.2.1.2. Blast Furnace Slag
    • 5.2.1.3. Recycle Aggregates
    • 5.2.1.4. Others
  • 5.2.2. By Application
    • 5.2.2.1. Residential
    • 5.2.2.2. Non-Residential
    • 5.2.2.3. Others
  • 5.2.3. By Product Type
    • 5.2.3.1. Magnesium Oxychloride Cement
    • 5.2.3.2. Geopolymer Cement
    • 5.2.3.3. Calcium Sulfoaluminate Cement
    • 5.2.3.4. Others
  • 5.2.4. By Region
    • 5.2.4.1. North
    • 5.2.4.2. South
    • 5.2.4.3. East
    • 5.2.4.4. West and Central
  • 5.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Raw Material
  • 5.3.2. By Application
  • 5.3.3. By Product Type
  • 5.3.4. By Region

All segments will be provided for all regions covered

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Macro-economic Indicators

11. Pricing Analysis

12. Market Dynamics

• 12.1. Market Drivers
• 12.2. Market Challenges

13. Market Trends and Developments

14. Case Studies

15. Competitive Landscape

• 15.1. Competition Matrix of Top 5 Market Leaders
• 15.2. SWOT Analysis for Top 5 Players
• 15.3. Key Players Landscape for Top 10 Market Players
  • 15.3.1. UltraTech Cement Limited
    • 15.3.1.1. Company Details
    • 15.3.1.2. Key Management Personnel
    • 15.3.1.3. Products and Services
    • 15.3.1.4. Financials (As Reported)
    • 15.3.1.5. Key Market Focus and Geographical Presence
    • 15.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 15.3.2. Adani Group
  • 15.3.3. Shree Cement Limited
  • 15.3.4. JK Cement Limited
  • 15.3.5. Dalmia Cement Limited
  • 15.3.6. Wonder Cement Limited
  • 15.3.7. Ramco Cement Limited
  • 15.3.8. Orient Cement Limited
  • 15.3.9. India Cement Limited
  • 15.3.10. Chettinad Cement Corporation Pvt. Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

16. Strategic Recommendations

17. About Us and Disclaimer