Jersey City, NJ, Nov. 21, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Low-Carbon Construction Material Market- (By Application (Residential, Commercial, Industrial, Others), 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)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Low-Carbon Construction Material Market is valued at US$ 243.9 Bn in 2022, and it is expected to reach US$ 491.8 Bn by 2031, with a CAGR of 8.23% during the forecast period of 2023-2031.
Low-carbon construction materials have a lower carbon footprint than standard building materials. They are intended to have a low environmental impact, notably in terms of greenhouse gas emissions and energy consumption, over their entire life cycle, from extraction and production to transportation, construction, and disposal. Consumers, corporations, and governments are becoming more aware of climate change and environmental conservation, encouraging them to use low-carbon building materials. This understanding frequently translates into a willingness to pay a premium for environmentally friendly, long-lasting products.
Environmentally conscious clients are increasingly willing to pay more for homes and structures built with low-carbon materials. This demand forces builders and developers to incorporate environmentally friendly components into their projects. The need for low-carbon materials is driven by the requirement for robust buildings that can resist natural disasters and climate-related events.
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Recent Developments:
- In July 2023, CarbonCure Technologies Inc. announced an $80 million investment in a new equity round led by Blue Earth Capital. The company's existing shareholders also supported the current investment round. The investment will help the corporation achieve its aim of lowering and eliminating millions of metric tonnes of CO2 from the atmosphere each year.
List of Prominent Players in the Low-Carbon Construction Material Market:
- ArcelorMittal
- Nucor Corporation
- Steel Dynamics
- Gerdau S/A
- CMC
- NIPPON STEEL CORPORATION
- CelsaGroup
- POSCO
- HBIS GROUP
- LIBERTY Steel Group
- Tata Steel
- Vedanta Aluminum and Power
- EN+ Group
- China Hongqiao Group Limited
- Rio Tinto
- Norsk Hydro ASA
- Eco-Friendly Plastic Lumber
- Naftex GmbH
- Mercer Mass Timber LLC
- Stora Enso
- Plantd, Inc.
- Cemex, S.A.B. de C.V.
- CarbiCrete
- CarbonCure Technologies Inc.
- HOLCIM
- Low-Carbon Materials
- Ecocem
- CRH plc
- Roca Tile USA
- Kenoteq Ltd.
- AGC Inc.
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Low-Carbon Construction Material Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 243.9 Bn |
| Revenue Forecast In 2031 | USD 491.8 Bn |
| Growth Rate CAGR | CAGR of 8.23 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Application, Material |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; India; South East Asia; South Korea |
Market Dynamics:
Drivers:
Continuous materials science research and development have produced novel low-carbon construction materials. These materials often have superior properties, making them attractive alternatives to traditional, carbon-intensive materials. Manufacturing process advancements also help increase the availability of sustainable materials. These factors all contribute to the expansion of the low-carbon construction material market, making environmentally friendly alternatives a mainstream choice in the construction sector.
Challenges:
Several constraints impede the widespread adoption of low-carbon construction materials in the market. Low-carbon construction materials frequently have higher upfront costs than standard ones. Builders and developers may be hesitant to invest in these materials due to budget constraints, even if they offer long-term savings in terms of energy efficiency and lower operational expenses. Furthermore, inconsistent or imprecise legislation and building norms relating to low-carbon construction materials might provide difficulties.
Regional Trends:
The North American low-carbon Construction Material Market is expected to register a major market share in terms of revenue and it is projected to grow at a high CAGR in the near future. Consumers, corporations, and legislators are becoming more aware of climate change and environmental protection. As individuals and organizations attempt to decrease their carbon footprints and contribute to environmental preservation, this awareness drives the need for low-carbon construction materials. The region's growing usage of renewable energy sources such as solar and wind power generates demand for materials used in the construction of renewable energy infrastructure. These factors, together with the region's commitment to sustainability and environmental conservation, contribute to the growth and development of North America's low-carbon construction material market.
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Segmentation of Low-Carbon Construction Material Market-
By Application-
- Residential
- Commercial
- Industrial
- Others
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
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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