In an exclusive interaction, Kanodia Cement highlights the current market trends for eco-friendly building materials and discusses challenges for timely project completion.

 What is the demand trend in the construction sector for eco-friendly building materials?

The global green building materials market size is expected to grow from $238.91 billion in 2021 to $276.13 billion in 2022, at a compound annual growth rate (CAGR) of 15.6 percent. The market is expected to reach $421.64 billion in 2026 at a CAGR of 11.2 percent. The search for better, stronger, and more durable concrete has always been a priority for the construction sector. Therefore, green cement is the ideal option. Green cement is made with a carbon-negative manufacturing technique. Most of the rejected garbage from industry is one of the primary raw materials utilised to make green cement. The main ingredients used to produce green cement are blast furnace slag and fly ash. The amount of carbon dioxide released while manufacturing green cement is meagre, lowering the carbon footprint by 40 percent. The share of PPC, slag and composite cement in the Indian construction sector is increasing yearly.

How are the fluctuating prices impacting the project deadlines?

Although the ever-increasing cost of raw materials and workforce, the evolution of dynamic technology, and unforeseen disruptions are major challenges for delivering the project as per schedule. This can be addressed by a team of well-experienced executives who have a clear understanding of the mission and vision of a project or company, have a clear roadmap, plan ahead of time, and adapt to technological changes, among other things.

Is this shift encouraging industry players to obtain building materials locally?

In the building materials segment, logistics and transportation costs, especially for bulky items like cement sand, steel, concrete, brick, etc., attract high transportation costs and impact the total building construction cost. A trend has been seen in the building materials and other construction segments that the builders prefer local and good quality products in their construction work.

How do you assess the cement industry’s production and sales trends amid supply chain and cost complications?

Due to the increase in input and transportation costs, there is pressure on the demand side of the cement industry. But with the massive allocation in the Union budget for 2022–2023 for infrastructure, smart city projects, attractive, affordable housing schemes, various road projects, etc., to fuel the economy, the domestic cement industry is poised for a volume surge. In the years 2023 &24, the No’s of the State Assembly and Loksabha Election are to be held, and it is expected all Govts will increase their budget allocation on infrastructure and social welfare sector in their upcoming budget -2023-24. This will undoubtedly give a positive impetus to the Indian cement industry in the current and year ahead.

For more details visit: https://cement.industry-report.net/