USD 312.5 billion
Report ID:
SQMIG25G2009 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
92
|Figures:
72
Global Green Building Materials Market size was valued at USD 379.57 Billion in 2022 and is poised to grow from USD 425.12 Billion in 2023 to USD 1052.58 Billion by 2031, growing at a CAGR of 12% in the forecast period (2024-2031).
Green building materials are used to construct a structure that is friendly to the environment. Using these resources helps to reduce the number of non-renewable resources used worldwide through conservation efforts. As consumers choose more environmentally friendly building materials than traditional ones, the market will grow. The materials lessen carbon footprints, which helps to slow down global warming. These materials are low-cost, easy to maintain, and low-energy and environmental impact. These benefits put them above more traditional building materials, making them the ideal choice.
Furthermore, the increasing demand for these materials is becoming common in many construction projects because they reduce the environmental impact of building materials related to manufacturing, installation, processing, transportation, recycling, and disposal. The industry is expected to grow as consumers increasingly prefer such materials over traditional building materials. Demand for green building materials is expected to rise during the forecast period, as governments of various developed nations are framing policies and offering incentives to support green construction. "Green buildings" have the potential to not only save the world, but enhance people's general well-being, safety, and health.
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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The green building materials market is segmented into product, application, and region. By product, the market is classified into structural, interior, exterior, and others. Depending on the application, it is categorized into exterior siding, interior finishing, insulation, framing, roofing, and others. Regionally, the green building materials market is analysed across North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.
Green Building Materials Market Analysis By Product
The structural segment holds a dominant position in the market for green building materials. This could be explained by the fact that the main framework of a building is always constructed using sustainable and environmentally friendly materials. The environment is impacted by the most crucial structural elements of a building, such as beams, columns, load-bearing walls, and so forth. As energy efficiency and carbon footprints have received greater concern in construction, increasing demand has focused on building structures with environmentally friendly structural materials such as bamboo, engineered wood, and recycled steel.
The interior segment with the highest growth rate is expected to increase the use for green building materials. This segment has grown in recent times at a very rapid rate, mainly due to individual demand for sustainable and healthy living. The popularity of eco-friendly paints, flooring, furniture, and insulation materials for interior spaces has recently surged due to growing public awareness of indoor air quality and its health implications. Besides, green building certifications and improved non-toxic, low-VOC material are some of the other factors that drive up the trend for green interior products. As such, business and residential owners increasingly realize the need for sustainable interior design, and thus this market witnesses a sharp rise.
Green Building Materials Market Analysis By Application
Roofing is the largest segment due to the growing number of people opting to use green roofing materials. Green roofs are becoming more and more significant as a Nature-based Solution (NBS) to address many environmental and socioeconomic challenges related to climate change. Urban settlements are gaining interest in the field of global development because they currently contain 55% of the world's population and are predicted to expand to 68% by 2050. Towns, cities, and suburbs are instances of suburban areas. For urban communities to develop sustainably, they must expand. The New Urban Agenda and the 2030 Sustainable Development Goals spur cities' efforts toward sustainability.
The flooring segment is expected to see a remarkable growth during the forecast period. Green flooring is made from ecologically friendly processes and sustainable materials; the lifetime impact of the product is minimized on ecosystems. This includes the processes of production, harvesting, using, and disposing of. It is believed that green flooring will protect traditional renewable resource producers, which are an important source of revenue for many communities and will also make buildings safer and healthier. Eco-friendly solutions benefit everyone. They contribute to creating a healthier environment.
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In 2023, North America dominated the global green building materials market share due to roofing material demand and insulation framing for residential, commercial, industrial, and infrastructure applications. The growing need for structures that maximize value, are ecologically benign, and use less energy. One cost-effective benefit of green buildings is lower energy costs. Expanding government programs have driven the market's growth even faster. In addition, the Canadian market increased at the fastest rate, while the U.S. market in North America had the highest market share.
Asia Pacific is the fastest-growing region. The sector makes use of a wide range of environmentally friendly products, including galvalume panels, linoleum, and fibre cement composites. The green building materials market is anticipated to grow over the course of the estimated period due to factors such new low and high-rise residential buildings, existing structures being retrofitted, and new industrial buildings. Asia Pacific is anticipated to develop at the rapid rate of 12.0% over the projected period because of the region's thriving residential building sector. The region's product demand is anticipated to be fueled by the Paris Climate Agreement, which China and India accepted to combat climate change, and both countries' rising infrastructure construction.
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Green Building Materials Market Drivers
Regulations and Environmental Awareness
Technological Innovation
Green Building Materials Market Restraints
High Startup Costs
Lack of Standardization
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The global green building materials market is fragmented by the presence of key players include BASF SE, PPG Industries, Inc., Sika AG, and Forbo International SA. There is very aggressive competition from local and international players with far-reaching supply chains, regulatory know-how, and wide distribution networks. Besides that, strategic partnerships are formed by the companies, mergers and acquisitions, license agreements for the purpose of expanding within existing markets.
Green Building Materials Market Top Player’s Company Profiles
Green Building Materials Market Recent Developments
Expanding Market by Raising Awareness and Using Green Building Materials:
Government Initiatives Towards Energy-Efficiency in Buildings:
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the green building materials market is being driven by the growing usage of these materials in both the residential and non-residential sectors. Companies across the globe are engaging themselves in the lucrative business of the green building supplies market. They are bringing more capital expenditure by providing a strong focus on higher quality products and R&D to meet consumers' demand. Since developing nations are still infrastructural building, the market for green building goods is growing at a rapid pace.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 379.57 Billion |
Market size value in 2031 | USD 1052.58 Billion |
Growth Rate | 12% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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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 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 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 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 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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Report ID: SQMIG25G2009
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