New York (US), May 19, 2023 (GLOBE NEWSWIRE) -- Green Building Materials Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Green Building Materials Market Information by Application, End-use, and Region - Forecast till 2030”, Green Building Materials Market could thrive at a rate of 14.10% between 2021 and 2030. The market size will be reaching around USD 750.12 Billion by the end of the year 2030
Market Synopsis
Green building materials refer to environmentally friendly construction materials that are used in the construction and renovation of buildings. These materials are typically made from renewable resources, have low embodied energy, and produce minimal waste during production and disposal. They are designed to minimize the impact of construction on the environment and improve the overall energy efficiency of buildings.
Green building materials are used in a wide range of applications, including roofing, insulation, flooring, and walls. They offer several benefits over traditional building materials, such as improved energy efficiency, reduced carbon footprint, and enhanced indoor air quality.
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Market Competitive Landscape:
The affluent companies in the Green Building Materials industry include
- Alumasc Group
- Bauder Ltd
- Wienerberger
- Binderholz
- Homasote Company
- CertainTeed Corporation
- LG Hausys Ltd
- RedBuilt
- PPG Industries Inc
- Forbo International
- Kingspan Limited
- Lafarge
- BASF
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | USD 750.12 Billion |
| CAGR | 14.10% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Key Market Drivers | Low maintenance cost Low operating cost and low water requirements |
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December 2020
Owens Corning announced the launch of a new line of eco-friendly insulation products. The company's EcoTouch insulation products are made from recycled and renewable materials, including sand and glass, and are designed to reduce energy consumption and improve indoor air quality.
Market USP Covered:
Market Drivers:
One of the key drivers of the green building materials market is the growing concern about the impact of construction on the environment. The use of traditional building materials contributes significantly to carbon emissions, pollution, and depletion of natural resources. As a result, consumers, governments, and corporations are increasingly turning to green building materials that are made from renewable resources, have lower embodied energy, and produce less waste. The demand for green building materials is also driven by the need to improve the energy efficiency of buildings, as these materials can significantly reduce energy consumption and lower greenhouse gas emissions.
In addition to environmental concerns, rising government initiatives to promote sustainable construction practices are also driving the green building materials market. Many governments have implemented policies and regulations to encourage the use of green building materials and to improve the overall sustainability of buildings. For example, some countries offer tax incentives, grants, or subsidies to encourage the use of green building materials in construction projects.
Furthermore, the growth of the construction industry, particularly in developing countries, is also fueling the demand for green building materials. As urbanization continues to accelerate, there is a growing need for sustainable construction practices to support economic growth. Green building materials offer an opportunity to construct buildings that are both environmentally friendly and cost-effective. Moreover, the use of green building materials can also enhance the aesthetic appeal of buildings, making them more attractive to consumers.
Market Restraints:
However, the high cost of green building materials remains a significant restraint on the market's growth. Green building materials are often more expensive than traditional building materials, making them less accessible to some consumers and limiting their adoption in certain markets.
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COVID 19 Analysis
The COVID-19 pandemic has had a significant impact on the global economy, including the construction industry and the green building materials market. The pandemic led to a slowdown in construction activity, as many projects were put on hold due to lockdowns and supply chain disruptions. This slowdown had a negative impact on the green building materials market, as demand for these materials decreased in response to reduced construction activity. However, the pandemic also increased awareness of environmental issues and the need for sustainable construction practices.
Post-COVID, the green building materials market is expected to witness steady growth. As the global economy recovers, construction activity is likely to pick up again, leading to an increase in demand for sustainable construction materials. Furthermore, growing awareness of environmental issues and the need for sustainable construction practices are expected to drive continued demand for green building materials. The market is expected to be driven by factors such as rising government initiatives to promote sustainable construction practices, the need to improve the energy efficiency of buildings, and the increasing demand for energy-efficient buildings.
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Market Segmentation
By Application
The Application in the market includes Residential, Commercial, Infrastructure, and Industrial.
By End-use
The End-use in the market includes Exterior siding, Interior Finishing, Insulation, Framing, Roofing, and others.
Regional Insights
In North America, the green building materials market is driven by strong government support for sustainable construction practices and growing demand for eco-friendly buildings. In Europe, the market is driven by strict environmental regulations and a focus on reducing carbon emissions in the construction industry. In the Asia-Pacific region, the market is driven by rapid urbanization and the need for sustainable construction practices to support economic growth.
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