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Cement Circular Economy Valued at US$116 Billion by 2050

By 2050, a circular economy for cement and concrete could produce €110 billion (over US$116 billion) in net value and avoid or mitigate two billion tonnes of CO2 emissions by 2050, according to research by consultancy firm McKinsey and Co. A circular economy can be achieved by employing carbon utilisation and storage (CUS) of CO2 from cement and concrete production and re-using energy from waste materials and minerals across the built environment, as well as adopting circular technologies, McKinsey said. Circular technologies include using CO2 for enhanced recarbonisation of construction and demolition waste and using alternative fuels from energy waste. Recycling and re-using construction materials and minerals will add nearly €80 billion (US$84.5 billion) of annual earnings before EBITDA. Re-using concrete modules and structures will drive an estimated €24 billion (US$25.3 billion) of net value by the mid-century, the report added. “The cement industry is perfectly positioned to create closed loops for CO2, materials and minerals, and energy,” said Jukka Maksimainen, Global Co-leader of McKinsey’s Global Energy and Materials practice.  

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