PUBLISHER: The Business Research Company | PRODUCT CODE: 1539803
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539803
Supplementary cementitious materials (SCM) are additives used in concrete alongside portland cement to enhance its properties. These materials react with calcium hydroxide and contribute to the cementitious properties of the concrete mix. SCMs are chosen for their ability to improve the strength, durability, and sustainability of concrete while reducing the environmental impact of cement production.
The main types of supplementary cementitious materials are fly ash, slag cement, silica fume, and others. Fly ash is a coal combustion product composed of fine particles of burned fuel driven out of coal-fired boilers with flue gases. It is used in various industries, including construction, automotive, electronics, chemical, oil and gas, and agriculture. Additionally, it serves various end users such as residential, commercial, infrastructure, and industrial sectors.
The supplementary cementitious materials market research report is one of a series of new reports from The Business Research Company that provides supplementary cementitious materials market statistics, including supplementary cementitious materials industry global market size, regional shares, competitors with a supplementary cementitious materials market share, detailed supplementary cementitious materials market segments, market trends and opportunities, and any further data you may need to thrive in the supplementary cementitious materials industry. This supplementary cementitious materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The supplementary cementitious materials market size has grown strongly in recent years. It will grow from $21.99 billion in 2023 to $23.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historic period can be credited to several factors, including a heightened emphasis on sustainable construction practices, the drive to repurpose industrial byproducts, rising awareness of climate change impacts, accelerated urbanization trends, and the imperative for more robust and resilient infrastructure.
The supplementary cementitious materials market size is expected to see strong growth in the next few years. It will grow to $31.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. In the forecast period, growth is expected due to several factors, including the demand for low-carbon materials, concerns about the availability and disposal of fly ash, overall expansion in the global cement industry, supportive policies and regulations, and increasing construction activities. Key trends anticipated in this period include advancements in concrete technology, enhancements in concrete properties, ongoing infrastructure development initiatives, research and development advancements in material science, and the integration of new technologies.
The growth of the supplementary cementitious material market is expected to be driven by the expanding construction industry. This sector encompasses entities engaged in the planning, design, development, construction, renovation, and upkeep of various structures and infrastructure, such as buildings, roads, bridges, utilities, and other physical facilities. Urbanization, infrastructure development, and rising demand for residential and commercial spaces are key factors propelling growth in the construction industry. Supplementary cementitious materials play a crucial role in enhancing concrete properties such as strength, durability, and sustainability, while also reducing the environmental impact of cement production. For example, in May 2024, construction spending in the US reached $2,083.9 billion in March 2024, marking a 9.6% increase from March 2023. Spending for the first quarter of 2024 amounted to $461.0 billion, reflecting a 10.6% rise compared to the same period in 2023. This underscores the significant growth in the construction sector driving the demand for supplementary cementitious materials.
Major companies in the supplementary cementitious materials market are focusing on developing advanced products such as alkali-activated slag and fly ash to meet customer needs. These materials play a crucial role in producing sustainable concrete solutions. For instance, Betolar Plc., a materials technology company based in Finland, introduced Geoprime in September 2021. Geoprime is specifically designed as an alkali-activated additive for slag and fly ash, significantly enhancing concrete production. It stands out with an impressive 80% reduction in CO2 emissions compared to ordinary portland cement (OPC). Geoprime addresses the growing demand for sustainable and cost-effective construction materials, showing considerable potential for rapid global adoption and expansion.
In January 2024, Summit Materials Inc., a US-based construction materials firm, completed a $3.2 billion merger with Cementos Argos. This strategic move reinforces Summit Materials' commitment to expanding its presence in the global construction materials sector, delivering value to shareholders and stakeholders alike. Cementos Argos, based in Colombia, specializes in manufacturing supplementary cementitious materials.
Major companies operating in the supplementary cementitious materials market are BASF SE, Tata Steel Limited, CEMEX SAB de CV, Sika AG, Taiheiyo Cement Corporation, Buzzi SpA, Elkem ASA, FLSmidth Group, Votorantim Cimentos, Argos, Boral Limited, Eagle Materials Inc., Ferroglobe Plc, Adelaide Brighton Cement Ltd., JK Cement Ltd., CRH Canada, Charah Solutions Inc., Bharathi Cement Corporation Private Limited, HeidelbergCement AG, Carbon Upcycling Technologies, LafargeHolcim Ltd., Advanced Cement Technologies LLC, CemGreen ApS, CR Minerals Company LLC
Asia-Pacific was the largest region in the supplementary cementitious materials market in 2023. The regions covered in the supplementary cementitious materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the supplementary cementitious materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The supplementary cementitious materials market consists of sales of natural pozzolans and calcium sulfoaluminate cement. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Supplementary Cementitious Materials Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on supplementary cementitious materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for supplementary cementitious materials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The supplementary cementitious materials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.