Functional equipment is forecast to be the main driver for the world cement equipment market, being projected to account for over USD 3 billion in 2024, according to CW Research’s World Cement Equipment Market and Forecast Report 2020.
In an exclusive interview with CemWeek, Doctor Alexander Schopf shares his insights on chemical looping combustion, a carbon sequestration process for carbon capture and storage, particularly on its role in rendering the cement production process greener.
According to CW Research’s World Cement Equipment Market and Forecast Report 2020, the market for cement manufacturing equipment and services is projected to decline to an estimated USD 8 billion by 2024.
Cement companies in India continue to expand their capacity as demand for their product increases, paving the way to their leadership in the global cement market. Despite their competitiveness, companies face some challenges in affirming themselves in the global market, as the ongoing trade conflicts sweeping Asian markets pose both opportunities and risks.