Guidehouse Insights estimates that the green building materials market will grow at a compound annual growth rate of nearly 20% through 2031
The most impactful efforts of the next decade involve changes in building materials such as cement, steel, aluminum, glass and wood
BOULDER, Col., April 20, 2022 /PRNewswire/ — A new report from Glimpses of the House of Guides explores the growth of low-carbon green building materials and lists the many techniques used by the construction industry to decarbonize.
Efforts to decarbonize construction and reduce embodied carbon involve many individual initiatives implemented throughout the construction value chain, which is still in the early stages of substantially reducing carbon emissions. Embodied carbon reductions – emissions associated with building construction – are starting to have a significant impact now and are expected to increase in the later part of the decade. According to a new report from Guidehouse Insights, global revenues from green building materials are $5.8 billion in 2022 and should more than quintuple to reach $29.2 billion in 2031 at a CAGR of 19.6%.
“Unlike efforts to reduce operational carbon emissions that show a reduction in fuel and energy bills within months, reducing embodied carbon emissions involves applying accounting and engineering principles to estimate the impacts past, present and future activities,” says William Hughes, Principal Research Analyst at Guidehouse Insights. “A growing number of participants in the construction value chain are embracing these efforts.”
The most impactful planned efforts involve changes in building materials, such as cement, steel, aluminum, glass and wood. The carbon emissions associated with the life cycles of these materials – mining, refining, processing and demolition – collectively produce about the same carbon emissions as all operational emissions from buildings, according to the report.
The report, Decarbonization of building construction, examines the growth of low-carbon, green building materials. It leverages Guidehouse Insights reports based on the Global Building Stock Database for 4Q21, applies insights into standard building practices across different regions, and includes insights from vendors, trade associations, and construction companies . An executive summary of the report is available for free download from the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data and benchmarking services for today’s rapidly changing and highly regulated industries. Our knowledge is based on an in-depth analysis of global cleantech markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment, coupled with an in-depth review of technology trends, to provide a comprehensive view emerging resilient infrastructure systems. Additional information on Guidehouse Insights is available at www.guidehouseinsights.com.
Guidehouse is a leading global provider of advisory services to the public sector and commercial markets, with extensive risk management, technology and advisory capabilities. By combining our public and private sector expertise, we help our clients address their most complex challenges and overcome significant regulatory pressures focused on transformational change, business resilience and technology-driven innovation. Through a range of consulting, advisory, outsourcing and digital services, we create scalable and innovative solutions that help our clients navigate complexity and position them for future growth and success. The company has more than 13,000 professionals in more than 50 locations worldwide. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda issues that drive national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release regarding the report, Decarbonization of building construction, is a summary and reflects current expectations of Guidehouse Insights based on market data and trend analysis. Forecasts and market expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s findings and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes to update the information contained in this press release or the report.
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SOURCE Guidehouse Insights