The global green building materials market size reached US$ 280.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 523.7 Billion by 2027, exhibiting at a CAGR of 11.06% during 2022-2027.
Green construction materials are either naturally occurring or made up of recyclable and renewable waste. Stone, wood, bamboo, hempcrete, timbercrete, straw bales, and recycled plastics are some of the most often utilised green building materials. They lessen the environmental impact of the building structure’s installation, transportation, manufacture, disposal, and recycling. Green building materials are long-lasting, energy-efficient, and low-cost to operate and maintain. As a result, they are widely used in both the residential and non-residential sectors as suitable construction materials.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Green Building Materials Market Trends:
The growing number of construction activities around the world is driving the global green building materials market. In terms of design, construction, maintenance, and repair, green building materials improve the efficiency and sustainability of building structures. A rising awareness of the negative impacts of commonly used construction materials has also led in a shift toward environmentally friendly alternatives. As a result, governments around the world are enacting a variety of environmentally friendly and energy-efficient building standards and norms. By establishing minimum benchmarks for energy efficiency and other characteristics, these codes and standards have aided in improving the overall performance of buildings, hence increasing demand for green building materials.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the major players operating in the market being Alumasc Group Plc, Bauder Limited, Binderholz GmbH, CertainTeed Corporation; RedBuilt, LLC; PPG Industries, DuPont, Forbo International SA, Interface Inc., Kingspan Group plc, Lafarge, BASF SE, Owens Corning and National Fiber.
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Global Green Building Materials Market 2022-2027 Analysis and Segmentation:
- Based on the application, the market has been segmented into insulation, roofing, framing, interior finishing, exterior siding and others. Amongst these, insulation dominates the market, accounting for the majority of the market share.
- On the geographical front, North America exhibits a clear dominance in the market. Other major regions are Europe, Asia Pacific, Middle East and Africa, and Latin America.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.