Most impactful efforts in the coming decade involve changes in construction materials such as cement, steel, aluminum, glass, and wood
BOULDER, Colo., April 20, 2022 /PRNewswire/ — A new report from Guidehouse Insights explores the growth of green, low-embodied carbon construction materials and catalogs the numerous techniques the construction industry is using 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. Reductions of embodied carbon—the emissions associated with constructing the building—are starting to have a meaningful impact now and are expected to increase in the later part of the decade. According to a new report from Guidehouse Insights, the global revenue for green construction materials is $5.8 billion in 2022 and will likely grow more than five-fold to $29.2 billion in 2031 at a CAGR of 19.6%.
“Unlike efforts to reduce operational carbon emissions that show reduced fuel and energy bills in a matter of months, reducing embodied carbon emissions involves applying accounting and engineering principles to estimate the impacts of past, present, and future activities,” says William Hughes, principal research analyst with Guidehouse Insights. “A growing number of participants in the construction value chain are embracing these efforts.”
The most impactful foreseen efforts involve changes in construction 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, Building Construction Decarbonization, examines the growth of green, low-embodied carbon construction materials. It leverages Guidehouse Insights reports based on the Global Building Stock Database for 4Q21, applies information on standard construction practices in different regions, and includes information from vendors, trade associations, and construction companies. An executive summary of the report is available for free download on 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 insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Building Construction Decarbonization, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
SOURCE Guidehouse Insights