Low-Carbon Construction Material Market - A Global and Regional Analysis: Focus on Application, Material, and Regional and Country-Level Analysis - Analysis and Forecast, 2023-2032

Oct 2023| BIS824A| BIS Research

Report Highlights

Global Low-Carbon Construction Material Market to Reach $578.85 Billion by 2032

Low-Carbon Construction Material Market: Industry Overview

The demand for various products, such as low-carbon aluminum, sustainable steel, recycled plastic, mass timber, and green concrete, within the low-carbon construction material market is anticipated to grow owing to the increasing demand from the building and construction industry. Furthermore, it is anticipated that during the projected period 2023-2032, the increasing adoption of sustainable products of low-carbon construction material in the sustainable construction industry across several emerging and advanced economies, including the U.S., China, India, Italy, France, and the U.K., is expected to further fuel the advancement of the global low-carbon construction material market. However, the high prices associated with low-carbon construction materials and uncertain macroeconomic conditions might act as a challenge to the growth of the market.

Market Lifecycle Stage

The low-carbon construction material market is in the growth phase. Increased investment and research and development activities are expected to boost the market. Furthermore, high demand for low-carbon construction materials due to growing green building trends and rising government initiatives, such as incentives and tax credits for low-carbon materials, are expected to fuel the demand for sustainable construction materials, thereby bolstering the low-carbon construction material market. Moreover, the low-carbon construction material industry is expected to benefit from the rising awareness of the environment and the increasing adoption of sustainable construction materials in advanced and emerging economies.

Industrial Impact

The products within the low-carbon construction material market offer numerous advantages. Their renewable nature ensures a reduced carbon footprint, contributing to mitigating climate change and lowering greenhouse gas emissions. Furthermore, low-carbon construction materials from renewable sources, such as mass timber, offer a reduction in carbon emission, making them suitable for use in various green building applications. Furthermore, low-carbon construction material has a moderate-to-high impact on end-user industries; however, in the future, with increasing penetration of residential, commercial, industrial, and other applications of the building and construction industry, their impact and adoption is anticipated to increase and drive the growth of global low-carbon construction material market.

Segmentation 1: by Application

  • Residential
  • Commercial
  • Industrial
  • Others

The residential segment leads the global low-carbon construction material market.

Segmentation 2: by Material

  • Plastic
    • Bio-Based Plastic
    • Recycled Plastic
  • Metal
    • Sustainable Steel
    • Low-Carbon Aluminum
    • Others
  • Mass Timber
    • Cross-Laminated Timber
    • Nail-Laminated Timber
    • Glue-Laminated Timber
    • Others
  • Green Concrete
  • Green Tiles
  • Low-Carbon Bricks
  • Others

The global low-carbon construction material market is estimated to be led by the metal segment in terms of material.

Segmentation 3: by Region

  • North America - U.S., Canada, and Mexico
  • Europe - Germany, France, Italy, Spain, and Rest-of-Europe
  • China
  • U.K.
  • Asia-Pacific and Japan - Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
  • Rest-of-the-World - South America and Middle East and Africa

In the low-carbon construction material market, based on region, North America is anticipated to gain traction in terms of adoption, owing to the continuous growth in the adoption of low-carbon construction materials such as low-carbon aluminum, sustainable steel, mass timber, recycled plastic, bio plastic, and mass timber, along with the presence of key manufacturers in the region.

Recent Developments in the Global Low-Carbon Construction Material Market

  • In July 2023, Cemex, S.A.B. de C.V. announced record sales of its Vertua net-zero carbon (CO2) concrete in Colombia, crossing 100,000 cubic meters of volumetric production.
  • In July 2023, CarbonCure Technologies Inc. announced that it secured an investment of $80 million in a new equity round that was led by Blue Earth Capital. The new funding round also witnessed support from the company’s existing shareholders. The investment would help the company achieve its goal of reducing and removing millions of metric tons of CO2 from the atmosphere per year.
  • In September 2022, CarbonCure Technologies Inc. announced the launch of CarbonCure Express EPD, an environmental product declaration service that would help concrete manufacturers measure the carbon impact of their concrete offerings, thereby helping them strengthen their positions in the low-carbon or green building industry.
  • In May 2023, SSAB AB announced a partnership with BE Group, a steel service firm operating in Sweden, the Baltic States, Finland, and Poland. Under this partnership, SSAB AB would help the latter identify demands and opportunities for fossil-free steel in the BE Group’s key markets, including manufacturing and construction. Based on the identification of demand for fossil-free steel, the partnership would help meet the technical, sustainable, and communication needs of customers BE Group serves.
  • In March 2021, ArcelorMittal launched XCarb, an umbrella brand for its low, reduced, and zero-carbon steel products, thereby embarking on its commitment to the production of carbon-neutral steel by 2050. The company also announced three XCarb-branded initiatives, namely, XCarb green steel certificates, XCarb recycled and renewably produced, and XCarb innovation fund to support the launch of XCarb.

Demand - Drivers and Challenges

The following are the demand drivers for the low-carbon construction material market:

  • Increase in Government Expenditures for Infrastructural Development
  • Stringent Regulations and Carbon Neutrality Targets
  • Energy and Cost Efficiency owing to the Use of Recycled Materials
  • Growing Research and Development Activities to Achieve Near-Zero Emissions

The low-carbon construction material market is expected to face some limitations as well due to the following challenges:

  • High Prices Associated with Low-Carbon Construction Materials
  • Lack of Investments in the Green Building Materials Sector
  • Uncertain Macroeconomic Conditions

Report Synopsis

Report Metrics Details
Base year considered 2023
Forecast period considered 2023-2032
Base year market size $273.39 Billion in 2023
Market size forecast $578.85 Billion by 2032
Growth rate 8.69%
Units considered $ Billion
Segments covered By Application, By Material, By Region
Industry covered Advanced Materials & Chemicals
Regions covered North America, Europe, Asia-Pacific and Japan, South America, Middle East and Africa
Countries covered U.S., Canada, Mexico, Germany, Spain, France, Italy, Rest-of-Europe, U.K., China, Asia-Pacific and Japan, Japan, South Korea, India, Australia, Rest-of-Asia-Pacific and Japan, Rest-of-the-World
Companies studied
  • CarbiCrete
  • ArcelorMittal
  • Cemex, S.A.B. de C.V.
  • CarbonCure Technologies Inc.
  • Nucor Corporation
  • CRH plc
  • Norsk Hydro ASA
  • Novelis Inc.
  • Low-Carbon Materials
  • Ecocem
  • Mercer Mass Timber LLC
  • Roca Tile USA
  • Stora Enso
  • Plantd, Inc.
  • Naftex GmbH
  • AGC Inc.
  • Plastic Lumber Yard, LLC
  • Kenoteq Ltd.

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different low-carbon construction materials, i.e., low-carbon aluminum, sustainable steel, mass timber, green concrete, recycled and bio plastic, and others, along with various application types involved in the supply chain of low-carbon construction material market. Moreover, the study provides the reader with a detailed understanding of the global low-carbon construction material market based on applications (residential, commercial, industrial, and others).

Growth/Marketing Strategy: The global low-carbon construction material market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The most favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global low-carbon construction material market. For instance, in September 2023, HOLCIM announced the launch of its innovation hub with an aim to accelerate sustainable construction. The facility will be a co-creation lab with a focus on accelerating circular, low-carbon, and energy-efficient construction globally.

Competitive Strategy: Key players in the global low-carbon construction material market analyzed and profiled in the study involve low-carbon construction material manufacturers and the overall low-carbon construction material ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global low-carbon construction material market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations are expected to aid the reader in understanding various untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The low-carbon construction material market has been segmented based on material and application, where metal accounted for around 70.48% of the material segment and residential held around 48.09% of the application segment of the total low-carbon construction material revenue in 2022.

Some of the prominent established names in the this market are:

Company Type 1 (by Material): Metal

  • ArcelorMittal
  • Nucor Corporation
  • Steel Dynamics
  • Gerdau S/A
  • CMC
  • CelsaGroup
  • LIBERTY Steel Group
  • Tata Steel
  • Vedanta Aluminum and Power
  • EN+ Group
  • China Hongqiao Group Limited
  • Rio Tinto
  • Norsk Hydro ASA

Company Type 2 (by Material): Plastics

  • Eco-Friendly Plastic Lumber
  • Naftex GmbH

Company Type 3 (by Material): Mass Timber

  • Mercer Mass Timber LLC
  • Stora Enso
  • Plantd, Inc.

Company Type 4 (by Material): Green Concrete

  • Cemex, S.A.B. de C.V.
  • CarbiCrete
  • CarbonCure Technologies Inc.
  • Low-Carbon Materials
  • Ecocem
  • CRH plc

Company Type 5 (by Material): Green Tiles

  • Roca Tile USA

Company Type 6 (by Material): Low Carbon Brics

  • Kenoteq Ltd.

Company Type 7 (by Material): Others

  • AGC Inc.

Companies that are not a part of the previously mentioned pool have been well-represented across different sections of the report (wherever applicable).

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