Green Building Materials Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Green Building Materials Market grew at a CAGR of 7.0% between 2017-2021 and is estimated to be US$ 2,14,876.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.8 % and is expected to reach a valuation of US$ 4,55,382.3 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to rising demand for environmentally friendly building materials increases; there is a high potential for green building materials to have a high market share in the future.
GROWING AWARENESS REGARDING ECO-FRIENDLY PRACTICES
The increasing awareness about environmental concerns in recent times is one of the significant factors driving the demand for the green building materials market. LEED building is a widely used green building rating system. The increase in building sustainable structures with eco-friendly products to minimize carbon footprint increases the demand for green building materials.
HIGH INVESTMENT COSTS HAMPER THE MARKET GROWTH
The high capital investments in green building materials are one of the biggest challenges to the market. Green building materials are alternatives to mainstream building materials; therefore, they must be of good quality. Furthermore, very few companies in the market are working on green building and green construction policies, as it requires expertise on the subject matter. This is almost certainly hampering the development of this market.
GROWING GOVERNMENT INCENTIVES AND INITIATIVES CREATE MORE OPPORTUNITIES FOR THE MARKET
The green building materials market has witnessed widespread growth over the past years and is expected to continue its upward momentum, owing to government initiatives and incentives. This demand is driven by several factors, such as an emphasis on energy efficiency and low carbon emissions, stringent building specifications, growing concern about global warming, and challenges faced by urban planners and builders in meeting strict environmental & climate change regulations.
Market Segments Covered in Report
By Type :
By Application :
By End-Use Industry :
By Region and Country :
Why is the Building systems segment projected to ensure the most revenue during the forecast period?
At 45.0% of the market, Building systems had the greatest revenue share. The demand for green building materials reflects the growing concern about energy and carbon emissions worldwide. The ever-increasing demand is anticipated to continue its growth in the coming years as people are looking to live more sustainable lifestyles. Government schemes and incentives related to using renewable energy sources and promoting sustainable design are also expected to impact market growth positively.
Why is the Interior finishing segment expected to expand the fastest during the forecast period?
In 2021, The interior finishing segment held the largest share of 32.0% in the green building materials market 2021. Green building materials are becoming more popular as they can help save energy and reduce CO2 emissions. This increased demand for green building materials from interior designers is expected to drive their growth over the forecast period.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market. Developing a diverse product range allows a company to offer products that are relevant across all industries, ensuring strong growth for a long time.
Some of the key developments that have taken place in the Green Building Materials Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, End-Use Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 7.8%.
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 need in the construction sector. Additionally eco-friendly and less harmful, these materials.
Major global Green Building Materials Market players are Alumasc Group Plc, Amvik Systems, BASF SE, Bauder Limited, Binderholz GmbH, CertainTeed Corporation, DuPont de Nemours Inc, Forbo International SA, Interface Inc., Kingspan Group PLC, Lafarge, National Fiber, Owens Corning, PPG Industries, RedBuilt, LLC, Reward Wall Systems, Structurlam Products Ltd
The utilization of natural resources has been hampered by the rise in the global population and fast urbanization.
The North American region is expected to account for the largest market revenue share in the Global Green Building Materials market.
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