PUBLISHER: BIS Research | PRODUCT CODE: 1373571
PUBLISHER: BIS Research | PRODUCT CODE: 1373571
“Global Low-Carbon Construction Material Market to Reach $578.85 Billion by 2032.”
KEY MARKET STATISTICS | |
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Forecast Period | 2023 - 2032 |
2023 Evaluation | $273.39 Billion |
2032 Forecast | $578.85 Billion |
CAGR | 8.69% |
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.
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.
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.
The residential segment leads the global low-carbon construction material market.
The global low-carbon construction material market is estimated to be led by the metal segment in terms of material.
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.
The following are the demand drivers for the low-carbon construction material market:
The low-carbon construction material market is expected to face some limitations as well due to the following challenges:
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.
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.
Company Type 1 (by Material): Metal
Company Type 2 (by Material): Plastics
Company Type 3 (by Material): Mass Timber
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Company Type 4 (by Material): Green Concrete
Company Type 5 (by Material): Green Tiles
Company Type 6 (by Material): Low Carbon Brics
Company Type 7 (by Material): Others
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Companies that are not a part of the previously mentioned pool have been well-represented across different sections of the report (wherever applicable).