Cement Producers Strive to Mitigate Carbon Footprint, Driving Digitalization Investing
Cement production and processes emit over 5 percent of all carbon dioxide emitted by human activity. Reducing that environmental impact is a high priority among cement producers. Cement producers are now publishing their Environmental, Social and Governance credentials concerning energy use in their operations, greenhouse gas emissions and water usage. Digital technologies will enable companies to collate and analyze the data to identify process improvements. Furthermore, investments in optimizing their production equipment and cement quality will also drive investments in digitalization. According to global technology intelligence firm ABI Research, total spending on digitalization is forecasted to reach $3.54 billion in 2033, a 5.5 percent Compound Annual Growth Rate.
“With all of the above in mind, cement producers are developing risk frameworks that present opportunities for technology suppliers to help firms assimilate information for presenting credentials and performing scenario-planning exercises,” said Michael Larner, industrial and manufacturing markets research director at ABI Research.