New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to the updated research report titled “Green Building Materials Market” published by Reports Insights, the Green Building Materials Market was valued at USD 347.10 Million in 2022, and it is projected to grow at a Compound Annual Growth Rate (CAGR) of 12.4%, reaching USD 858.63 Million by the year 2030. This estimation is based on a comprehensive analysis of the market’s historical and current trends, industry dynamics, and macro-economic factors that are expected to impact the market’s growth during the forecast period.
Green building materials composed of renewable constituents that are applied to construct a green building. Green building materials are likely to have less impact on the environment in comparison to traditional form of construction materials. Aforementioned materials are classified into different forms that are composed of recycled products including steel, demolished concrete, natural resources, among others. The key factor attributed towards market growth is due to their application in the construction of green building that involves products including dismantled, re-used materials concrete, steel, and others.
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In addition, increasing efforts taken by governments across the globe in reduction of carbon emissions by means of regulation and standards is further promoting the growth of green building materials market. Building assessment method including BRE Environmental Assessment Method (BREEAM) and certification such as Leadership in Energy and Environmental Design (LEED) are further promoting the market growth for green building materials.
Moreover, according to The U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the sales of new single family houses has reached to 763,000 units in the month of May 2023 in comparison to 680,000 unit from April. Accordingly, with the growing number of sales of houses in the region is accounted to drive the market growth for green building materials.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 858.63 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 12.4% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | BASF SE, PPG Industries, Inc., DuPont, Sika AG, Forbo International SA, Owens Corning, REDBUILT, CERTAINTEED, HOLCIM, Kingspan Group |
| By Application | Roofing, Flooring, Framing, Insulation, and Others |
| By End User | Residential and Non-Residential |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Key Market Highlights
- Globally, green building materials are divided based on application into roofing, flooring, framing, insulation, and others.
- In the context of end user, the market is separated into residential and non-residential.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in green building materials market.
Green Building Materials Market Growth Drivers:
- Rising demand for sustainable construction materials is driving the growth of green building materials market.
- Increasing demand for application of products and construction materials that reduce VOC (Volatile Organic Compounds).
- Growing trend for application of refurbished, recycled materials in the construction of building is driving the market growth for green building materials.
Restraints
- Fluctuation in the raw materials price tends to restrict the market growth for green building materials.
Global Green Building Materials Market Segmentation Details:
Based on Application, roofing segment contributed the largest shares to the market growth in 2022. Roofing is an integral structure of a building and supports the top layers of the house. Green building materials being used for roofing contains metal structure including recycled steel, rods, and others metal components. The overall costing for the construction of new metal structure is reduced, if green building materials initiative is considered which ultimately reduce the cost of manufacturing and eliminate greenhouse gas.
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Based on End User, residential segment offered substantial shares to the global green building materials market in the year 2022. Owing to the growing concern towards rising global temperature and increasing greenhouse gas emissions is resulting in the adoption of green building materials. Furthermore, with a rise in demand for sustainable energy efficient residential buildings among developing nations is boosting the demand for green building materials in the residentials sector.
Based on region, North America region is a major contributor to the growth of the green building materials market. Due to growing government initiatives towards developing a sustainable and energy efficient ecosystem, promoting the growth of green building materials in the regions. Furthermore, with the rise in sales numbers for residential properties in countries including United States and Canada has been further promoting the growth of green building materials.
Recent Developments
- According to U.S. Green Building Council, Mainland China accounts to hold 1,077 projects that received LEED certification in the year 2021. Followed by Canada, India, Republic of Korea having 205, 146, and 42 projects certified respectively.
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List of Major Global Green Building Materials Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- BASF SE
- PPG Industries, Inc.
- DuPont
- Sika AG
- Forbo International SA
- Owens Corning
- REDBUILT
- CERTAINTEED
- HOLCIM
- Kingspan Group
Global Green Building Materials Market Segmentation:
- By Application
- Roofing
- Flooring
- Framing
- Insulation
- Others
- By End User
- Residential
- Non-Residential
- Commercial & Office
- Institutional
- Industrial
- Others
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