Low-Carbon Construction Material Market Size is valued at USD 243.9 Bn in 2022 and is predicted to reach USD 491.8 Bn by the year 2031 at a 8.23% CAGR during the forecast period for 2023-2031.
There are various low-carbon building materials on the market that can assist in minimising the carbon footprint of buildings and infrastructure projects. When compared to standard construction materials such as concrete and steel, these materials are often more sustainable and have a smaller environmental impact. Various factors are driving the market for low-carbon construction materials, including increased awareness of environmental sustainability, regulatory restrictions, technology breakthroughs, and market demand for eco-friendly building solutions. Climate change awareness and the need to minimize greenhouse gas emissions have to bring about an increased emphasis on sustainable construction practices.
However, the COVID-19 epidemic has had several consequences for the low-carbon construction material market, affecting both the demand and supply sides of the business. Lockdowns, travel restrictions, and manufacturing closures in several parts of the world interrupted construction material supply networks. Delays in the manufacture and shipping of low-carbon construction materials occurred, causing project timeframes to be pushed back and costs to rise.
Competitive Landscape
Some Major Key Players In The Low-Carbon Construction Material Market:
- ArcelorMittal
- Nucor Corporation
- Steel Dynamics
- Gerdau S/A
- CMC
- NIPPON STEEL CORPORATION
- CelsaGroup
- POSCO
- HBIS GROUP
- LIBERTY Steel Group
- Tata Steel
- Vedanta Aluminum and Power
- EN+ Group
- China Hongqiao Group Limited
- Rio Tinto
- Norsk Hydro ASA
- Eco-Friendly Plastic Lumber
- Naftex GmbH
- Mercer Mass Timber LLC
- Stora Enso
- Plantd, Inc.
- Cemex, S.A.B. de C.V.
- CarbiCrete
- CarbonCure Technologies Inc.
- HOLCIM
- Low-Carbon Materials
- Ecocem
- CRH plc
- Roca Tile USA
- Kenoteq Ltd.
- AGC Inc.
- Others
Market Segmentation:
The Low-Carbon Construction Material Market is segmented on the basis of application and material. The market is categorised as Commercial, Residential, Industrial, and Others based on application. The material segment includes plastic (Bio-Based Plastic, Recycled Plastic), metal (Sustainable Steel, Low-Carbon Aluminum, Others), mass timber (Sustainable Steel, Low-Carbon Aluminum, Others), green concrete, green tiles, low-carbon bricks, and others.
Based On Application, The Residential Segment Is A Major Contributor To The Low-Carbon Construction Material Market.
The residential category will hold a major share of the global Low-Carbon Construction Material Market 2022. The need for low-carbon construction materials in the residential construction industry is driven by several reasons corresponding to environmental sustainability, energy efficiency, and cost-effectiveness. Homeowners are encouraged to invest in energy-efficient materials and technologies when energy bills rise. Solar panels, energy-efficient appliances, and well-insulated walls and roofs help cut energy expenditures, making them appealing for residential applications.
The Metal Segment Witnessed Growth At A Rapid Rate.
The metal segment is projected to grow rapidly in the global low-carbon construction material market. Low-carbon metal-based construction materials have various advantages, including durability, recyclability, and energy efficiency. Various variables influence the market for these materials, which promotes their use in construction projects. The global push towards sustainable building practices is driving global demand for materials with lower carbon footprints. Steel and aluminium are highly recyclable metal-based materials, making them environmentally favourable solutions for construction projects.
In The Region, The North American Low-Carbon Construction Material Market Holds A Significant Revenue Share.
The North American low-carbon Construction Material Market is expected to record the maximum market share in terms of revenue in the near future due to the region's concentration of important manufacturers as well as the steady rise in the use of low-carbon building materials such as mass wood, recycled plastic, bioplastic, low-carbon aluminium, and sustainable steel. Consumers, corporations, and legislators are becoming more conscious of the need to save the environment and combat climate change.
Low-carbon building materials are in high demand as a result of people and organizations trying to lessen their carbon footprints and protect the environment. Rapid urbanization as well as infrastructural development in the Asia Pacific region are driving up demand for construction materials. Growing public awareness of environmental issues and climate change has resulted in a movement in consumer preferences and government legislation towards environmentally friendly building materials.
Recent Developments:
- In July 2023, CarbonCure Technologies Inc. announced an $80 million investment in a new equity round led by Blue Earth Capital. The company's existing shareholders also supported the current investment round. The investment will help the corporation achieve its aim of lowering and eliminating millions of metric tonnes of CO2 from the atmosphere each year.
Low-Carbon Construction Material Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 243.9 Bn |
|
Revenue Forecast In 2031 |
USD 491.8 Bn |
|
Growth Rate CAGR |
CAGR of 8.23 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application, Material |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; India; South East Asia; South Korea |
|
Competitive Landscape |
ArcelorMittal, Nucor Corporation, Steel Dynamics, Gerdau S/A, C.M.C., NIPPON STEEL CORPORATION, CelsaGroup, POSCO, HBIS GROUP, LIBERTY Steel Group, Tata Steel, Vedanta Aluminum and Power, EN+ Group, China Hongqiao Group Limited, Rio Tinto, Norsk Hydro A.S.A., Eco-Friendly Plastic Lumber, Naftex GmbH, Mercer Mass Timber L.L.C., Stora Enso, Plantd, Inc., Cemex, S.A.B. de C.V., CarbiCrete, CarbonCure Technologies Inc., HOLCIM, Low-Carbon Materials, Ecocem, CRH plc, Roca Tile U.S.A., Kenoteq Ltd., and A.G.C. Inc. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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