Green building materials market growth Sluggish Growth Rate Foreseen by 2023-2030
Green Building Materials Market Growth Analysis
Green Building Materials Market is projected to be worth USD 939.79 Billion by 2030, registering a CAGR of 12% during the forecast period (2022–2030). Green building materials, also known as high-performance or sustainable materials, are environmentally responsible material that is used to reduce waste and efficiently uses natural resources.
Various factors are propelling the Green building materials market growth. According to the recent MRFR market estimates, such factors include increasing awareness of consumers regarding energy efficiency, supportive government policies, alluring features such as low water requirements, low operating cost, and low maintenance cost, increasing use in healthcare, infrastructure, commercial, and residential industries, the declining price of green buildings, rising awareness about recycled construction, rapid industrial and economic development, demand for energy-efficient green buildings, and growing urban population. Additional factors fuelling market growth entails the growing demand for insulation, favorable government policies for green buildings, expanding construction activities, and growing product demand for various environmental and monetary benefits.
On the contrary, market barriers, high capital investments, cost concerns, and a halt in commercial and residential construction applications during the COVID-19 pandemic are factors that may impede the global green building materials market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global green building materials market based on application and end use.
By application, the global green building materials market is segmented into industrial, infrastructure, commercial, and residential. Of these, the residential application segment will lead the market over the forecast period.
By end use, the global green building materials market is segmented into roofing, framing, insulation, interior finishing, exterior siding, and others. Of these, the exterior siding end-use segment will dominate the market over the forecast period.
Key Players
Key contenders profiled in the global green building materials market report include Owens Corning, BASF SE, Lafarge Company, Kingspan Limited, Forbo International SA, E. I. du Pont de Nemours and Company, PPG Industries, Inc., RedBuilt LLC, LG Hausys Ltd., CertainTeed Corporation, Homasote Company, Binderholz GmbH, Wienerberger AG, Bauder Ltd., and Alumasc Group plc.
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Regional Analysis
By region, the global green building materials market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. The growing need for energy-saving construction buildings, non-government and government regulations for energy efficiency practices, rising consumer awareness about economic and environmental benefits, growing renovation projects, favorable policies and building codes regarding the use of such materials in the construction industry, and increasing renovation activities are adding to the global green building materials market growth in the region.
In Europe, the global green building materials Technology Analysis is predicted to have the second-largest share over the forecast period. Recovering construction industry, growing implementation of green building regulations by different governments, increasing emphasis to reduce operational and maintenance costs of structure, and a growing number of non-residential and residential construction activities are adding to the global green building materials market growth in the region.
In the APAC region, the global green building materials market is predicted to have healthy growth over the forecast period. The growing residential construction sector, agreements to prevent climate change, and rising infrastructure development in India and China are adding to the global green building materials market growth in the region.
In the Rest of the World, the global green building materials market is predicted to have sound growth over the forecast period.
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