New York, USA, Sept. 13, 2022 (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”, the market is estimated to grow at a 12% CAGR to reach USD 939.79 Billion by 2030.
Market Scope:
Green building materials are environmentally friendly goods that support energy conservation, are non-toxic, healthy, and economical. Green building initiatives improve the environment, atmosphere, and public health. Green construction raises consumer knowledge of environmentally friendly building products. Enhancing the sustainability and effectiveness of a building's design, construction, maintenance, and renovations is referred to as using "green building materials." Residential, commercial, institutional, and other end-user sectors such as framing, insulation, roofing, exterior siding, interior finishing, and other industrial operations are all divided into different segments of the market.
Renewable products that are both highly energy and cost-efficient make up green building materials. As they lessen the environmental effect of installation, transportation, manufacturing, processing, disposal, and recycling of green building materials, they are widely used in a variety of construction operations. Industries nowadays are introducing novel ideas to cut pollution and take action to minimize atmospheric carbon emissions. The green construction concept encourages residents to live in homes with clean, pollution-free air, renewable energy, and natural sunlight.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 939.79 Billion |
| CAGR | 12% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application, by End-use, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The demand for green building is massive due to the government policies that support energy-efficient buildings. |
| There are plenty of health benefits of adopting green building. |
Competitive Dynamics:
The key players of the green building market are:
- Alumasc Group Plc
- Bauder Ltd.
- E.I. Du Pont De Nemours And Company
- Wienerberger AG
- Binderholz GmbH
- Homasote Company
- CertainTeed Corporation
- RedBuilt LLC
- Forbo International SA
- BASF SE
Market USP:
Market Drivers
Over the past few years, there has been a noticeable growth in demand for green building materials. For insulation purposes, modern materials including cellulose, cotton, fiberglass, and mineral wool are in high demand in the construction sector. Additionally eco-friendly and less harmful, these materials. Because of government initiatives to assist energy-efficient construction, there is a huge demand for green buildings today. The residential industry invests heavily in energy-friendly and efficient buildings. This government program serves as an essential market stimulant.
People are urged to buy a building with energy-saving and water-conserving measures. Both the buyer and the environment profit from it. Additionally, there is a lot of public awareness about green building today. Many people make an effort to live more sustainably in order to reduce pollution. The fast urbanization and increase in world population have made it more difficult to use natural resources. To encourage sustainable growth and disrupt the cycle of environmental deterioration and resource depletion, green growth strategies are required.
The idea of a green building provides residents with fresh air, renewable energy, and daylight. Furthermore, using green building techniques has many positive effects on your health. Additionally, the increased consumer expenditure on real estate enables consumers to select eco-friendly green structures. With many different interior design and construction methods, the green building is beautiful. It is comparable to any high-tech structure, but it won't harm the environment in any manner. These key factors will all actively seek to increase market demand. The key factors will respond to the high market revenue for green building materials during the anticipated term.
Market Limitations
The primary market limitation for green construction materials is the considerable investments necessary. Operating costs for green buildings are lower than those for conventional buildings. However, the use of expensive, energy-efficient facilities and technology is necessary for the development of green buildings.
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COVID-19 Analysis:
The COVID 19 has a significant negative impact on the market for green construction products. Mobility is constrained in almost every region as a result of the pandemic. Building intricate structures is not permitted for the construction crews. Additionally, the construction work was constrained. The market's demand-supply chain has been affected by it in a number of ways. The post-pandemic market trends for green building materials are still good, though. When the governments permit and loosen the market limitations, green buildings are functional. The market for green buildings is currently less in demand, but that will change significantly after COVID 19.
Market Segmentation:
Application
Over the research period, the residential category is anticipated to grow at a significant CAGR.
End-Use
Over the review period, the insulation segment has significantly increased in momentum.
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Regional Analysis:
The biggest market share for green buildings is found in North America. There are a ton of construction projects in this area. The main forces in the local economies are the demand from consumers and individuals. North American green construction is incredibly reliable, strong, and secure. Through strict regulations requiring the inclusion of energy efficiency features in infrastructure, the government is promoting this endeavor. The prognosis for the green building materials market is rapidly expanding in this area. The market for green buildings has many prospects for expansion during the coming years. The leading market participants invest a lot in green building infrastructure. All of these factors encourage increased demand and financial success for green development in this area.
However, the markets in the Asia-Pacific region continue to develop the fastest. The Asia Pacific region will experience the green building materials market's fastest expansion. China, Japan, and India are the main producers of green building materials.
This market has an extraordinary growth rate thanks to the extensive infrastructure improvements. In Europe, the market acceptance rate for green buildings is extremely high. The green building idea is already present in the majority of the structure. The government's supportive actions are a key factor in the high growth rate. Europe has also implemented strict rules, which has led to the adoption of green building technology in numerous applications for renovation and retrofitting.
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