USD 312.5 billion
Report ID:
SQMIG25G2009 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
92 |
Figures:
72
Green Building Materials Market size was valued at around USD 312.5 billion in 2019 and is expected to reach a value of USD 564.7 billion by 2031, at a CAGR of 6.8% over the forecast period (2024-2031).
Over the forecast period, growth in the market is expected to be driven by rising government initiatives to enforce ecologically and energy-friendly building standards. Building using green materials has a lower carbon footprint, therefore reduces the effects of global warming. Additionally, compared with competitors, these require less water and are simple to maintain. As a result, rising consumer demand for the products as a result of various environmental and financial benefits is anticipated to fuel market growth over the forecast period.
As consumers and developers place a high value on inexpensive, environmentally, and energy-efficient homes, the construction sector is predicted to experience increasing demand. The comeback in building activity as a result of increasing demand for residential and commercial developments also adds to market growth. The government's increasing emphasis on green architecture and energy-efficient construction as a response to the recent global crisis is anticipated to have an impact on product demand. High performance green building materials and rising energy prices are the main market drivers. The industry's expansion could be hindered, though, by uneven energy regulation enforcement and consumers or are very price sensitive.
Due to the simple access to raw materials and the substantial number of suppliers operating in the market, the industry displays low supplier bargaining power. The producers choose to send their products directly to customers or specific industries. Third-party distributors do exist, nevertheless, as a result of major corporations expanding internationally.
US Green Building Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 312.5 billion
Largest Segment
Online
Fastest Growth
Online
Growth Rate
6.8% CAGR
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Global Green Building Materials market is segmented on the basis of Application, Distribution Channel, End User and region. By Application, the market is segmented into Residential, Commercial, Infrastructure, and Industrial. By Distribution Channel, the market is segmented into Online, and Offline. By End user, the market is segmented into Exterior siding, Interior Finishing, Insulation, Framing, Roofing, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Green Building Materials Market Analysis by Application
Residential, Commercial, Infrastructure, and Industrial make up the Green Building Materials market segmentation based on application. In terms of market revenue in 2021, the residential sector held the lion's share. The two key drivers fueling the expansion of this market segment are the rising level of awareness about the environmental advantages of green building materials and the rising use of sustainable construction techniques in the residential sector. Government programmers’ and laws that encourage the use of these materials in the residential sector, as well as the rising demand for energy-efficient and environmentally friendly homes, are all factors that are fostering the development of this market segment.
Green Building Materials Market Analysis by End User
The market segmentation for green building materials is subdivided based on end use into roofing, framing, insulation, exterior siding, and interior finishing. The roofing category dominated the market in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030. The primary factor propelling the growth of the market segment is the rising adoption of green roofing materials including solar roofing systems, green roofs, and cool roofs. Government incentives and regulations encouraging the use of green roofing materials, as well as growing awareness of the environmental benefits of green roofing materials, such as energy efficiency and a lower carbon footprint, are also assisting in the expansion of this market sector. These all have a favorable effect on the market expansion for green building materials.
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The global market is anticipated to be dominated by North America. There is a considerable need for environmentally friendly and energy-efficient building materials in the region due to its well-established construction sector. The market in North America is expanding as a result of the region's presence of numerous important players and the rising adoption of green building standards and codes like LEED and Energy Star. The region's green building materials market is expanding as a result of government policies and laws encouraging their usage, as well as rising public awareness of their advantages for the environment and human health. Additionally, the North American market in the U.S. had the biggest market share, while the market in Canada had the fastest rate of growth.
The fastest-growing market is still in the Asia-Pacific region. The main market contributors for green construction materials are China, Japan, and India. This market has an extraordinary growth rate due to the extensive infrastructure upgrades. Due to the region's expanding residential building market, Asia Pacific is predicted to increase at the fastest rate, 12.0%, during the projection period. The region's product demand is anticipated to be driven by the Paris Climate Agreement, which China and India ratified in attempt to combat climate change, as well as growing infrastructure development in both countries.
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Green Building Materials Market Drivers
Increasing Demand for Eco-friendly Products
Growing Demand of Traditional Construction
Green Building Materials Market Restraints
Growing environmental issues
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The market for green building materials will expand even more as a result of major market players spending heavily in R&D to expand their product lines. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among many other significant market changes, in an effort to expand their global footprint. In order to expand and survive in a market that is becoming increasingly competitive and growing, competitors in the green building materials industry must offer products at an affordable price.
Green Building Materials Market Top Player’s Company Profiles
Green Building Materials Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Green Building Materials Market analysis, the market is being driven by the growing use of these materials in both residential and non-residential sectors. Around the world, firms are active in the lucrative green building materials sector. These businesses are increasing their capital expenditures while putting a greater emphasis on R&D activities and higher-quality products in order to keep up with consumer demands. The ongoing construction of infrastructure in emerging nations is a factor in the market for green building products' quick growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 312.5 billion |
Market size value in 2031 | USD 564.7 billion |
Growth Rate | 6.8% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Green Building Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Green Building Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Green Building Materials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Green Building Materials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONGreen Building Materials Market size was valued at around USD 312.5 billion in 2019 and is expected to reach a value of USD 564.7 billion by 2031, at a CAGR of 6.8% over the forecast period (2024-2031).
The market for green building materials will expand even more as a result of major market players spending heavily in R&D to expand their product lines. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among many other significant market changes, in an effort to expand their global footprint. In order to expand and survive in a market that is becoming increasingly competitive and growing, competitors in the green building materials industry must offer products at an affordable price. 'Alumasc Group plc.', 'Bauder Ltd.', 'Wienerberger AG', 'Binderholz GmbH', 'Homasote Company', 'CertainTeed Corporation', 'RedBuilt LLC', 'Forbo International SA', 'PPG Industries, Inc.', 'LG Hausys Ltd.', 'Kingspan Limited', 'Lafarge Company', 'BASF SE among others', 'Sika AG', 'Holcim', 'Saint-Gobain (CertainTeed)E. I. du Pont de Nemours and Company'
The demand for green building materials has clearly increased over the last few years. Modern materials for insulation, such as cellulose, cotton, fiberglass, and mineral wool, are highly sought after in the building industry. These materials are also less hazardous and eco-friendly. There is a great demand for green buildings now because of government measures to support energy-efficient development. The residential sector makes large investments in energy-efficient and eco-friendly structures. This government program is a crucial market stimulant.
Government laws that promote energy-efficient buildings have led to a huge demand for green buildings. Buildings that are energy-efficient and consume less energy are highly valued in the residential market. This government endeavor serves as a key market stimulant. People are encouraged to buy a building with water- and energy-saving measures. Both the environment and the buyer profit from it. Additionally, there is a lot of public awareness about green buildings today. By leading an eco-friendly lifestyle, many people attempt to lessen pollution. Clean air, renewable energy, and natural sunlight are all provided to residents in green buildings. Furthermore, utilizing green buildings has several health advantages. The rising consumer spending on real estate also enables consumers to choose environmentally friendly green structures. The green building is stunning, with a variety of interior designs and constructing techniques.
The global market is anticipated to be dominated by North America. There is a considerable need for environmentally friendly and energy-efficient building materials in the region due to its well-established construction sector. The market in North America is expanding as a result of the region's presence of numerous important players and the rising adoption of green building standards and codes like LEED and Energy Star. The region's green building materials market is expanding as a result of government policies and laws encouraging their usage, as well as rising public awareness of their advantages for the environment and human health. Additionally, the North American market in the U.S. had the biggest market share, while the market in Canada had the fastest rate of growth.
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Product ID: SQMIG25G2009