Green Building Materials Market to be Worth USD 939.79 Billion by 2027, Global Industry Trends Analysis, Size and Demand Share Research Report
The green building materials market is expected to be worth USD 939.79 billion by 2030, registering a CAGR of 12% during the forecast period (2022-2030). The market was valued at USD 338.8 billion in 2021.
Alumasc Group plc. (UK), Bauder Ltd. (UK), Wienerberger AG (Austria), Binderholz GmbH (Austria), Homasote Company (USA), CertainTeed Corporation (USA), LG Hausys Ltd. (South Korea), RedBuilt LLC (USA), PPG Industries, Inc. (USA), EI du Pont de Nemours and Company (USA), Forbo International SA (Switzerland), Kingspan Limited (UK) Uni), Lafarge Company (France), BASF SE (Germany) and Owens Corning (USA) are among the leading players at the forefront of competition in the global green building materials market and are featured in the MRFR analysis.
Green Building Materials Market – Overview
Materials used in green building primarily promote the conservation of non-renewable resources to reduce the environmental impact associated with the manufacture, installation, transportation, disposal, and recycling of building materials. green building materials market uses recyclable products, which improve the production environment and the quality of life. The world today faces various environmental challenges, such as climate change, pollution, depletion of natural resources, etc. Green building materials address these issues, making them ideal for use in residential and non-residential buildings.
Countries around the world are adopting the concept of green building in their building guidelines and practices. Environmental conservation and protection is a high priority and this is seen in the increasing use of green building materials in all types of construction. The same is implemented through various government associations and regulations that guide and govern building and construction practices. Governments around the world encourage such building practices, which have also led to the popularity of these materials among individuals, and not just at the macro level. With the increase in private construction, such awareness and encouragement from the government becomes very important to exploit the segment.
In November 2017, the Green Building Councils in Europe urge to strengthen the EU policy on building renovation and not to neglect the elements of the position of the European Parliament that the Green Building Councils support. Similarly, Health Care without Harm (HCWH) has launched a pilot project to measure greenhouse gas emissions from European health centres. The aim is to support six hospitals in Europe to measure emissions and share data.
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Green Building Materials Market – Competitive Analysis
The green building market partners with manufacturers to develop products and materials that reduce a building’s overall embodied energy to create a more sustainable construction industry.
The industry has seen players enter the market to provide green building materials for construction purposes. New and existing players are investing more in R&D to develop products and materials that are found to be energy efficient for construction. The industry has also seen increased interest in energy management systems to monitor building energy consumption to ensure optimal energy savings. Increase partnerships between green building component manufacturers and technology providers. The global acceptance of solar power has made solar technology better and cheaper and companies have started developing products to meet this requirement. For example, Tesla (USA) has announced the launch of its new solar shingles.
Knauf Insulation, a member of the European Regional Network of the World Green Building Council and a global insulation company, achieved its 2020 sustainability targets in 2016, four years ahead of schedule, reducing its energy consumption by 20.9% and its CO2 emissions of 25.1 percent.
On the other hand, LIXIL Corporation (Japan) and TEPCO Energy Partner, Incorporated (Japan) announced the establishment of a joint venture called LIXIL TEPCO Smart Partners, Inc. The association between the two companies is expected to promote the construction of a network environmentally friendly net zero. energy houses (ZEH)1 in Japan. The operation started in October 2017. BASF was also seen as supporting sustainable construction and contributing to climate protection. BASF showcased a range of these solutions during World Green Building Week in October 2017. These include insulation systems, solutions to optimize the concrete mix, ways to reduce impact sound, and more.
Alumasc Group plc. Introduction of the VAEPLAN single-ply roofing membrane. This provides an efficient and durable roofing solution. The company recently installed the product at Oyster Wharf, Mumbles. Additionally, the Bauder Green Roof Bus Shelter has been recognized by the Norfolk Association of Architects.
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Green Building Materials Market – Segments
The global green building materials market is segmented into 3 key dynamics for easy comprehension and better understanding.
Segmentation by Application: Includes — Residential, Commercial, Infrastructure, Industrial.
Segmentation by end use: Includes exterior cladding, interior finish, insulation, framing, roofing and others
Segmentation by regions: Includes geographic regions — North America, Europe, APAC, and Rest of the World
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Green Building Materials Market – Regional Analysis
The market across all regions is expected to witness skyrocketing growth owing to its low operation and maintenance costs and favorable environmental emission regulations. There are different green building rating systems that define the quality of construction in developed regions. These organizations are Energy and Environmental Design (LEED), Building Research Establishment Environmental Assessment Method (BREEAM) and Green Building Evaluation Labeling (GBEL).
However, significant growth and investment in the green building market is witnessed in APAC countries. The region is expected to witness tremendous growth over the forecast period. Governments are seen promoting the practice of green building while providing thriving markets for international companies to push the market. Companies are investing in the innovation of new cutting-edge technologies in the APAC region, especially in China, India, and Indonesia, among others, which is expected to boost the market demand for green building materials. There are a few challenges the industry is facing. High costs are hampering long-term market growth.
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