PUBLISHER: The Business Research Company | PRODUCT CODE: 1588831
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588831
Low-carbon construction materials are building materials designed to reduce the carbon footprint associated with their production, use, and disposal. These materials aim to reduce construction projects' overall carbon footprint by using fewer natural resources, incorporating recycled or renewable materials, improving energy efficiency, or utilizing innovative technologies that capture or offset carbon emissions.
The main materials of low carbon construction materials are plastic, metal, mass timber, green concrete, green tiles, low-carbon bricks, and others. Plastic in low-carbon construction refers to materials that are either bio-based or recycled, minimizing environmental impact. It is applied for residential, commercial, industrial, and others and is used by various end-users, including repair and maintenance activities and new construction activities.
The low carbon construction materials market research report is one of a series of new reports from The Business Research Company that provides low carbon construction materials market statistics, including low carbon construction materials industry global market size, regional shares, competitors with a low carbon construction materials market share, detailed low carbon construction materials market segments, market trends and opportunities, and any further data you may need to thrive in the low carbon construction materials industry. This low carbon construction materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The low carbon construction material market size has grown strongly in recent years. It will grow from $238.58 billion in 2023 to $259.42 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth during the historic period can be attributed to higher demand from the building and construction sectors, increased adoption of sustainable products, rising need for eco-friendly building solutions, greater demand for sustainable building materials, and growing environmental awareness and regulations.
The low carbon construction material market size is expected to see strong growth in the next few years. It will grow to $367.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth during the forecast period can be attributed to rising public and corporate awareness of climate change, increasing regulations, a growing preference for eco-friendly and sustainable building solutions, a stronger focus on sustainability and environmental infrastructure, and a rise in construction activities. Key trends expected during this period include the adoption of green building standards, advancements in material technology and science, technological integration, innovations in sustainable construction materials, and the adoption of novel sustainable solutions.
The rising demand for new homes is expected to drive the growth of the low-carbon construction materials market. This demand is fueled by population growth, urbanization, and a desire for modern amenities and personalized living spaces. Low-carbon construction materials are essential for new homes to reduce greenhouse gas emissions, minimize environmental impact, and support sustainable building practices. For example, in July 2023, the Australian Bureau of Statistics reported that the number of dwellings under construction increased by 1.3% to 240,813 in the March quarter, up from 195,201 in March 2021. Of these, 103,778 were new houses. As a result, the growing demand for new homes is driving the expansion of the low-carbon construction materials market.
Leading companies in the low-carbon construction materials market are focusing on developing technologically advanced products, such as energy-efficient glass, to reduce environmental impact while ensuring high performance. Energy-efficient glass is designed to minimize heat loss or gain, enhance thermal insulation, and improve energy conservation in buildings. For example, in June 2023, Saint-Gobain India, a construction company based in India, introduced low-carbon glass. This new glass substrate from Saint Gobain Glass India is engineered to reduce carbon emissions by approximately 40% compared to their existing products. Despite its lower carbon footprint, it upholds the same high technical, quality, and aesthetic standards as traditional glass. This new product, soon to be added to their energy-efficient glass portfolio, is expected to significantly reduce embodied carbon in buildings and enhance operational energy efficiency.
In August 2023, Aggregate Industries, a UK-based building materials company, acquired OCL Regeneration for an undisclosed amount. This acquisition is intended to bolster Aggregate's asphalt and surfacing operations, improving its position in the UK highways market and aligning with the company's sustainability goals. OCL Regeneration specializes in recycling materials from highway maintenance and construction to produce low-carbon products that support the circular economy. Based in the UK, OCL Regeneration focuses on converting waste from road maintenance into low-carbon materials for highway projects.
Major companies operating in the low carbon construction materials market are ArcelorMittal S.A., POSCO, Nippon Steel Corporation, Rio Tinto Group, Nucor Corporation, Holcim Limited, Tata Steel Limited, Hesteel Group Company Limited, Steel Dynamics Inc., China Hongqiao Group Limited, Norsk Hydro ASA, CEMEX S.A.B. de C.V., Vedanta Limited, Gerdau S/A, EN+ Group plc, Stora Enso Oyj, Commercial Metals Company, LIBERTY Steel Group, CelsaGroup, Kenoteq Ltd., CarbonCure Technologies Inc., Roca Tile USA, Mercer Mass Timber LLC, Plantd Inc., CarbiCrete
Asia-Pacific was the largest region in the low carbon construction material market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low carbon construction materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the low carbon construction materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The low carbon construction materials market consists of sales of low-carbon concrete, engineered wood products, insulation materials, sustainable roofing materials and recycled glass tiles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Low Carbon Construction Materials Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low carbon construction materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low carbon construction materials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low carbon construction materials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.