The low carbon construction material market size has experienced strong growth in recent years, projected to increase from $238.58 billion in 2023 to $259.42 billion in 2024, with a compound annual growth rate (CAGR) of 8.7%. This growth is largely attributed to increased demand from the building and construction sector, a growing adoption of sustainable products, a heightened demand for eco-friendly building solutions, and rising environmental awareness and regulations. Looking ahead, the low carbon construction material market size is expected to continue its strong growth, reaching $367.32 billion in 2028 at a CAGR of 9.1%. This growth will be driven by growing public and corporate awareness of climate change, increasing regulations, a growing preference for eco-friendly and sustainable building solutions, and expanding construction activities. Key trends in the forecast 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 innovative sustainable solutions.
Global Low Carbon Construction Materials Market Key Driver
The increasing demand for new homes is expected to propel the growth of the low-carbon construction materials market in the foreseeable future. This demand is driven by factors such as population growth, urbanization, and a desire for modern amenities and personalized living spaces. The utilization of low-carbon construction materials is essential for new homes as it helps to reduce greenhouse gas emissions, minimize environmental impacts, and support sustainable building practices. For example, in July 2023, the Australian Bureau of Statistics, an Australian government agency, reported a 1.3% increase in the number of dwellings under construction, totaling 240,813 in the March quarter, compared to 195,201 in March 2021, with new houses accounting for 103,778 of the dwellings currently under construction. Therefore, the rising demand for new homes is driving the growth of the low-carbon construction materials market through 2023, into 2024, and expectedly continuing into 2028.
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Global Low Carbon Construction Materials Market Segments
The low carbon construction materials market covered in this report is segmented –
1) By Material: Plastic, Metal, Mass Timber, Green Concrete, Green Tiles, Low-Carbon Bricks, Other Materials
2) By Application: Residential, Commercial, Industrial, Other Applications
3) By End-User: Repair And Maintenance Activities, New Construction Activities
By Geography:The regions 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.
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.
Major Low Carbon Construction Materials Industry Players
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
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Low Carbon Construction Materials Market Overview
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.
Low Carbon Construction Materials Global Market Report 2023 provides data on the global low carbon construction materials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The low carbon construction materials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
