DUBLIN, Nov. 9, 2023 /PRNewswire/ — The “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” report has been added to ResearchAndMarkets.com’s offering.
The global low-carbon construction material market is poised to achieve an estimated value of $578.85 billion by the year 2032, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 8.69% during the forecast period from 2023 to 2032.
Market Overview
The low-carbon construction material market is experiencing robust growth due to increasing demand for various products, including low-carbon aluminum, sustainable steel, recycled plastic, mass timber, and green concrete, driven by the building and construction industry. The adoption of sustainable low-carbon construction materials in the sustainable construction sector across emerging and advanced economies such as the U.S., China, India, Italy, France, and the U.K. is expected to further propel the global low-carbon construction material market during the projected period. However, challenges such as the high prices of low-carbon construction materials and uncertain macroeconomic conditions may pose hurdles to market growth.
Market Lifecycle Stage
The low-carbon construction material market is currently in the growth phase, fueled by increased investments, research and development activities, and the growing trend of green building. Government initiatives, including incentives and tax credits for low-carbon materials, are contributing to the demand for sustainable construction materials. The rising awareness of environmental issues and the adoption of sustainable construction materials in advanced and emerging economies are expected to boost the market.
Industrial Impact
Low-carbon construction materials offer numerous advantages, including a reduced carbon footprint, contributing to climate change mitigation and lower greenhouse gas emissions. Materials sourced from renewable sources, such as mass timber, contribute to carbon emission reduction, making them suitable for various green building applications. While low-carbon construction materials currently have a moderate-to-high impact on end-user industries, their adoption is expected to increase in the future, especially in residential, commercial, industrial, and other building and construction applications.
Market Segmentation
The global low-carbon construction material market is segmented as follows:
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By Application:
- Residential
- Commercial
- Industrial
- Others
The residential segment leads the global low-carbon construction material market.
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By Material:
- Plastic
- Metal
- Mass Timber
- Green Concrete
- Green Tiles
- Low-Carbon Bricks
- Others
The metal segment is estimated to lead the low-carbon construction material market in terms of materials.
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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)
North America is expected to gain traction in terms of adoption in the low-carbon construction material market, driven by continuous growth in the adoption of low-carbon construction materials and the presence of key manufacturers in the region.
Recent Developments in the Global Low-Carbon Construction Material Market
Key recent developments in the market include strategic partnerships, innovative solutions, and initiatives by key players:
- In July 2023, Cemex, S.A.B. de C.V. announced record sales of its Vertua net-zero carbon concrete in Colombia, with over 100,000 cubic meters of production.
- In July 2023, CarbonCure Technologies Inc. secured an $80 million investment in an equity round led by Blue Earth Capital to reduce and remove millions of metric tons of CO2 from the atmosphere annually.
- In September 2022, CarbonCure Technologies Inc. launched CarbonCure Express EPD, a service for concrete manufacturers to measure the carbon impact of their concrete offerings, supporting their positions in the low-carbon or green building industry.
- In May 2023, SSAB AB partnered with BE Group to identify demands for fossil-free steel in key markets, including manufacturing and construction, to meet sustainability and customer needs.
- In March 2021, ArcelorMittal launched XCarb, an umbrella brand for low, reduced, and zero-carbon steel products, with initiatives aimed at producing carbon-neutral steel by 2050.
Demand Drivers and Limitations
Demand Drivers:
- Increase in Government Expenditures for Infrastructural Development
- Stringent Regulations and Carbon Neutrality Targets
- Energy and Cost Efficiency through Recycled Materials
- Research and Development Activities for Near-Zero Emissions
Limitations:
- High Prices Associated with Low-Carbon Construction Materials
- Insufficient Investments in Green Building Materials
- Uncertain Macroeconomic Conditions
Key Companies Operating in the Market
Key players in the global low-carbon construction material market, including manufacturers and ecosystem contributors, have been profiled in the study. Competitive benchmarking is used to provide insights into market positioning, and strategies such as partnerships, agreements, acquisitions, and collaborations are highlighted.
The key players profiled in the report include CarbiCrete, Cemex, S.A.B. de C.V., CarbonCure Technologies Inc., ArcelorMittal, SSAB AB, Nucor Corporation, HOLCIM, Norsk Hydro ASA, Novelis Inc., Low-Carbon Materials, Ecocem, Mercer Mass Timber LLC, CRH plc, Stora Enso, Plantd, Inc., Roca Tile USA, AGC Inc., Plastic Lumber Yard, LLC, Naftex GmbH, and Kenoteq Ltd.
Key Questions Answered in the Report
The report addresses key questions such as:
- What are the major trends, drivers, challenges, and opportunities in the global low-carbon construction material market?
- How does the supply chain function in the low-carbon construction material market?
- What are the significant patents filed by companies active in the global low-carbon construction material market?
- Who are the prominent players meeting the demand for the global low-carbon construction material market, and what are their key offerings?
- What are the differences between low-carbon construction materials and traditional building materials? How does their performance and application vary?
- Which applications and products are leading in terms of consumption in the global low-carbon construction material market, and which segments are expected to witness high demand growth from 2023 to 2032?
- Which regions and countries are leading in terms of consumption of the global low-carbon construction material market, and which of them are expected to witness high demand growth during the forecast period from 2023 to 2032?
For more information about this report visit https://www.researchandmarkets.com/r/g2qby
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