Westford, USA,, April 03, 2023 (GLOBE NEWSWIRE) -- The Green Building Materials market is projected to experience significant growth over the forecast period of (2022-2030) and is anticipated to reach a value of USD 564.7 billion with a CAGR of 6.8%. Several factors, including increased consumer awareness and demand, energy-saving concerns, government regulations, and incentives, drive market growth. Many countries, including the United States, offer tax incentives for building owners who invest in renewable energy and energy-efficient technologies. Additionally, several countries have introduced building codes that require new buildings to meet specific sustainability standards. The growth of green building certifications such as LEED and BREEAM has also been substantial in recent years.
SkyQuest's research indicates that green bond issuances for buildings reached $11.3 billion in 2022, a 55% increase from 2019. The shift towards sustainable investments is expected to drive more investment in green buildings in the coming years, with assets under management in sustainable investments growing by 15% in 2020, reaching $35.3 trillion, as reported by a SkyQuest survey.
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Browse in-depth TOC on "Green Building Materials Market"
- Pages - 242
- Tables - 78
- Figures - 75
In today's world, the green building market holds great significance as it provides a plethora of advantages such as enhanced energy efficiency, reduced environmental impact, cost-effectiveness, and improved indoor air quality. Given the increasing concerns about sustainability and climate change, embracing green building practices and technologies has become crucial to pave the way for a more sustainable future.
Prominent Players in Green Building Materials Market
- Skanska
- Turner Construction
- Clark Construction
- Gilbane Building Company
- Mortenson Construction
- PCL Construction
- Balfour Beatty
- Hensel Phelps
- DPR Construction
- Lendlease
- McCarthy Building Companies
- Whiting-Turner Contracting Company
- AECOM
- Fluor Corporation
- Jacobs Engineering
- CH2M Hill
- Kiewit Corporation
- Bechtel Corporation
- CBRE Group
- JLL (Jones Lang LaSalle)
Commercial Building Segment to Drive Higher Sales as there is Increased Green Building Certifications, Cost Savings for Commercial Buildings Owners
A recent analysis reveals that the Green Building Materials market experienced rapid growth in 2021, and the commercial building segment played a significant role in this trend. The market is expected to grow from 2022 to 2030 due to various factors, such as increased green building certifications, cost savings for commercial building owners, and rising demand for sustainable commercial buildings. Government regulations and green building investments also contribute to this growth. According to a survey by SkyQuest, 81% of consumers worldwide believe that companies should play a role in improving the environment. This increasing demand and awareness are driving growth in the commercial building segment.
The research analysis predicts that North America will become a dominant player in the Green Building Materials market from 2022 to 2030. SkyQuest has projected that the region will grow at a CAGR of 9.82% during the forecast period, driven by several factors, such as the high number of green building certifications, growing demand for sustainable buildings, technological advancements, government initiatives, and public awareness. According to a survey conducted by the National Association of Home Builders, over 80% of homebuyers in the US are willing to pay more for an energy-efficient home. This increasing demand for green and energy-efficient buildings is contributing to the growth of the market in the region.
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Energy-Efficient type Segment to Exhibit Strong Growth due to Cost-Saving for Building Owners, and Government Regulationss
The Energy-Efficient type segment emerged as the dominant method in the Green Building Materials market in 2021 and is expected to retain its lead from 2022 to 2030. Increasing demand for energy efficient buildings, cost saving for building owners, government regulations and technological advancements, is driving this trend. Furthermore, Building owners can save significant costs by constructing energy-efficient buildings. As per a report by the US Green Building Council, buildings certified with LEED experienced an average of 25% energy savings, which translates to an average cost saving of $0.50 per square foot per year.
The Asia Pacific region has emerged as a significant force in the Green Building Materials market and is expected to maintain its leading position by 2030. SkyQuest has forecasted substantial growth for the region, with a projected CAGR of 12.97% during the forecast period. The expansion in the market can be attributed to various factors such as increasing urbanization, rising energy costs, growing awareness, and technological advancements in the region. Governments across the Asia Pacific region have implemented several initiatives to promote green building practices. For example, the Singapore Green Building Council has developed the Green Mark certification program to encourage sustainable building practices in Singapore.
A comprehensive analysis of the major players in the Green Building Materials market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Green Building Materials Market
- Green Canopy and NODE have announced their merger to create Green Canopy NODE, SPC, and have successfully closed an initial round of funding worth $10 million. The startup NODE, which focuses on early-stage construction technology innovation, has joined forces with Green Canopy, an established company that offers vertically integrated development, design, general contracting, and fund management services with a focus on sustainability.
- Holcim has completed the acquisition of Wiltshire Heavy Building Materials, a leading building solutions, and material circularity company in the UK, with net sales of over CHF 20 million in 2021. Wiltshire specializes in circular construction and has a state-of-the-art material recovery system that recycles 150,000 tons of construction and demolition waste into aggregates and concrete annually. Miljan Gutovic, Region Head of EMEA, said he is excited about acquiring Wiltshire, which will help Holcim achieve its global goal of recycling 10 million tons of construction and demolition waste by 2025. Holcim's UK market is at the forefront of circular construction, with products like ECOPact+, a green concrete containing recycled aggregates, building new structures from old materials.
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Key Questions Answered in Green Building Materials Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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