This research is intended to support efforts to construct a dematerialized society as a necessary step toward the realization of a low carbon society. We turn our attention to steel, cement and petrochemical products, which are highly energy-intensive basic materials and thus require prompt action. We then examine future scenarios for these materials under varying social economic, technological and policy parameters, determining physical (mass-based) stock and flow volumes under each scenario and estimating the CO2 emissions entailed by each. More specifically, we develop a method of (a) expressing the mass flow volumes within a socioeconomic system by means of industry-specific physical input/output tables and physical trade balance tables and of (b) expressing the mass stock volumes by means of charts of physical stock accounts. To this, we apply data pertaining to 23 global regions over the past 30 to 100 years and, with that, derive charts of physical stock accounts for steel, cement, and petrochemicals. We next combined these charts with CO2 emission data and social economic activity indices within a model and, with this model, investigate the potential for dematerialization policies to enable the creation of a low-carbon society by 2050.