Market Scope & Overview 2023
As per the SNS Insider report, the green building materials market reached USD 370 billion in 2022 and is anticipated to achieve a value of USD 929.27 billion by 2030. This sector is projected to experience a CAGR of 12.2% during the forecast period spanning from 2023 to 2030.
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The Major Key Company Profiles included in Green Building Materials market study are:
Green building materials, also known as sustainable or eco-friendly building materials, are materials that are carefully selected and designed to have a minimal negative impact on the environment throughout their lifecycle, from extraction and manufacturing to use and disposal. These materials aim to promote sustainable construction practices, reduce energy consumption, minimize waste generation, and contribute to the overall well-being of both occupants and the planet.
As the construction industry seeks more sustainable alternatives, several key growth drivers are shaping the trajectory of the green building materials market. Governments worldwide are enacting stricter regulations to curb carbon emissions and promote sustainable construction practices. As a result, builders and developers are compelled to use eco-friendly materials that minimize the environmental impact of construction projects. Green building materials, such as energy-efficient insulation, solar panels, and smart building systems, contribute to reduced energy consumption and lower operational costs. As energy prices continue to fluctuate, the cost-saving potential of green buildings becomes a compelling reason for their adoption.
Impact of Recession
While recessions undoubtedly pose challenges to various industries, the green building materials market has shown a noteworthy ability to navigate such downturns. Factors such as the inherent cost-effectiveness of sustainable materials, government initiatives, evolving consumer preferences, and the long-term return on investment contribute to the market’s resilience. As the world increasingly acknowledges the urgency of addressing environmental concerns, the demand for green building materials is likely to remain steady even in economically turbulent times.
The Residential Buildings and Solar Products segments are on a trajectory to dominate the green building materials market, driven by an escalating demand for sustainable construction solutions. As the world increasingly acknowledges the importance of mitigating climate change and reducing environmental impact, these segments hold the key to shaping a greener, more resilient future for the construction industry. With innovation, collaboration, and commitment, the convergence of these two segments will undoubtedly leave an indelible mark on the global built environment.
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The Green Building Materials Market Segments and Sub-Segments are Listed Below:
By Product Type
By End User
Regional Status & Analysis
In North America, the green building movement has gained substantial traction due to heightened awareness about environmental preservation and energy efficiency. The United States and Canada have stringent building codes and certification programs like LEED, which have spurred the use of sustainable materials. The Asia-Pacific region presents a diverse landscape for green building materials market. Rapid urbanization, coupled with environmental concerns, has led to increased demand for sustainable construction. Bamboo, a rapidly renewable resource, is extensively used in countries like China and India.
The future of the market is replete with possibilities. From self-healing concrete to upcycled composites and biophilic design, innovations are converging to create a construction industry that is more environmentally responsible, resource-efficient, and aesthetically pleasing. As society’s awareness of climate change and ecological impact continues to grow, the demand for these sustainable solutions will only intensify, propelling the market toward a greener and more sustainable future.
Frequently Asked Questions
>What is the projected outlook for green building materials market growth?
Ans- The global market to cross USD 929.27 billion by 2030. This sector is projected to experience a CAGR of 12.2% during the forecast period spanning from 2023 to 2030.
>What are the major factors influencing the green building materials market?
Ans- The market is experiencing substantial growth driven by a combination of regulatory pressures, changing consumer preferences, economic benefits, technological advancements, and a heightened sense of environmental responsibility.
>Who are the leading players in the green building materials market?
Ans- BASF, DuPont, Holcim, Lhoist, Lafarge, Kingspan Group plc, RedBuilt LLC, Kingspan Group, green building solutions, Bauder Limited, CertainTeed Corporation.
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Table of Contents – Major Key Points
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
12 Company Profile
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