Pune, India, April 12, 2023 (GLOBE NEWSWIRE) -- The global green building materials market size was valued at USD 377.03 billion in 2022 and is projected to grow from USD 422.27 billion in 2023 to USD 951.15 billion by 2030, exhibiting a CAGR of 12.3% during the forecast period. An environment-friendly building structure is made from green building materials. Straw, hempcrete, wood, bamboo, bales, recycled plastic, and ferrock are some of these materials. They are used to create structures that are low-energy and support the ecological balance of the environment. Fortune Business Insights presents this information in their report titled "Green Building Materials Market, 2023–2030."
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List of Key Players Profiled in the Report
- BASF SE (Germany)
- PPG Industries, Inc. (U.S.)
- I. du Pont de Nemours and Company (U.S.)
- Sika AG (Switzerland)
- Forbo International SA (Switzerland)
- Owens Corning (U.S.)
- REDBUILT (U.S.)
- CERTAINTEED (U.S.)
- HOLCIM (Switzerland)
- Kingspan Group (Ireland)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 12.3% |
| 2030 Value Projection | USD 951.15 Billion |
| Market Size in 2022 | USD 377.03 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Green Building Materials Market Growth Drivers | High Preference for Green Buildings will Dominate the Residential Segment |
| Increasing Demand for Green Materials Buildings will Propel Market |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/green-building-materials-market-102932
Segments:
Roofing Segment to Grow Due to its Growing Product Usage in Construction
Based on application, the market is segmented into roofing, flooring, insulation, and others.
Due to the growing popularity of green roofing materials, it is predicted that the roofing segment will continue to be the largest over the projection period. As Nature-based Solutions (NBS) address a number of environmental and socioeconomic issues brought on by climate change, green roofs are becoming more and more important. Given that urban areas already house 55% of the world's population and are expected to grow by as much as 68% by 2050, urban areas are garnering attention in terms of global development. Suburbs, cities, and towns are all part of urban settlements. Urban growth is necessary for urban settlements to flourish sustainably. The New Urban Agenda and the Sustainable Development Goals for 2030 promote cities' commitment to sustainability.
A high Preference for Green Buildings will Dominate the Residential Segment
Based on end-use industry, the market is segmented into residential and non-residential.
Due to an increase in regulations and rules requiring energy-efficient buildings, the residential segment is anticipated to dominate during the projection period. In the residential sector, green buildings are becoming more popular. Building materials that are both eco-friendly and energy-efficient are now in demand.
The main factors driving the market expansion of this category are the growing awareness of the environmental advantages of sustainable building materials and the expanding use of sustainable building methods in the residential sector. Additionally, government regulations and initiatives to encourage the use of eco-friendly building materials in the residential sector, as well as the rising demand for energy-efficient and environment-friendly homes, are likely to propel the green building materials market growth.
COVID-19 Impact:
Halted Construction Activities and Supply Chain Negatively Affected Global Market
The COVID-19 epidemic is rapidly engulfing nations and regions, having a profound effect on the supply chain at every level. The entire world has declared a lockdown in March 2020, limiting the movement of people and goods and severely impacting the supply chains of building manufacturers. COVID-19 had a significant negative effect on the construction sector, which hampered the market. The pandemic caused the construction industry to go through its worst period in several decades. The lack of construction materials, logistical difficulties, labor shortage, and uncertainty have all had an impact on the worldwide construction industry and caused projects to be postponed or abandoned.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
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Drivers & Restraints:
Increasing Demand for Green Materials Buildings will Propel Market
Wood, straw hemp concrete, recycled plastic, ferrock, straw bales, bamboo rammed earth, wood concrete, and grass concrete are examples of green building materials. The purpose of using these materials is to build structures that are energy-efficient and support the ecological balance of the environment. During construction, design, repair, and maintenance, these materials increase a building's sustainability and efficiency. These materials are made from renewable waste sources and are particularly energy-efficient. Environmental issues including freshwater resource contamination, air pollution, resource depletion, biodiversity loss, and atypical climate change can all be resolved by using environment-friendly building materials. Green building materials are ideal replacements for conventional construction materials, and due to these benefits, the green building materials market share will increase in the coming years.
On the contrary, high demand, fluctuation in price of materials, and declining per capita income in some countries are few factors that may impede the market growth.
Regional Insights
North America Dominates the Market due to High Demand for Infrastructure Applications
Due to its rising demand for roofing, insulation, framing, and numerous other residential, industrial, commercial, and infrastructure applications, North America held the biggest market share in 2022. There is expanding need for buildings that are both energy and value-efficient and reduce their negative effects on the environment. Reduced energy expenses are the economic advantages of green buildings. Increased government initiatives have accelerated the market's expansion.
Competitive Landscape
Businesses Use Strategic Planning to Expand Their Market Share
Market players face severe competition from national and regional firms that have vast supply chains, regulatory expertise, and suppliers. In order to grow their present markets, businesses also enter into agreements, make purchases, and form strategic alliances with other industry leaders.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Trends
- Key Developments
- Insights on Regulatory Scenario
- Latest Technological Advancements
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on the Market
- Supply Chain Challenges
- Steps were taken by Government/Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Green Building Materials Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- By Application (Value)
- Roofing
- Flooring
- Insulation
- Others
- By End-Use Industry (Value)
- Residential
- Non- Residential
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Green Building Materials Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- By Application (Value)
- Roofing
- Flooring
- Insulation
- Others
- By End-Use Industry (Value)
- Residential
- Non- Residential
- By Country (Value)
- U.S.
- By End-Use Industry (Value)
- Residential
- Non- Residential
- By End-Use Industry (Value)
- Canada
- By End-Use Industry (Value)
- Residential
- Non- Residential
- By End-Use Industry (Value)
- U.S.
TOC Continued...!
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Key Industry Development:
October 2022 - Wiltshire Heavy Building Materials was acquired by Holcim. This acquisition strengthens Holcim's market presence in the U.K. market for green building materials.
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