The concept of sustainable building incorporates and integrates a variety of strategies during the design, construction and operation of building projects
WILMINGTON, DELAWARE, UNITED STATES, February 12, 2024 /EINPresswire.com/ — Green building materials offer specific benefits to the building owner and building occupants:
Reduced maintenance/replacement costs over the life of the building.
Energy conservation.
Improved occupant health and productivity.
Lower costs associated with changing space configurations.
Greater design flexibility.
“Green Building Materials Market,” which covers product types such as Exterior Products, Interior Products, Building Systems, Solar Products, and others, along with applications in Residential Buildings and Non-Residential Buildings. The report projects a robust growth for the global green building materials industry, with a market value of $237.3 billion in 2020 and an anticipated increase to $511.2 billion by 2030, showing a Compound Annual Growth Rate (CAGR) of 8.1% from 2021 to 2030.
Key Drivers of Growth
The increasing preference for green building materials over traditional options in the construction industry, coupled with advantages like ease of maintenance and cost-effectiveness, is propelling the global green building materials market. Despite obstacles such as high manufacturing costs, the market is expected to benefit from supportive government policies in developed nations that encourage green construction.
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Impact of COVID-19
The Covid-19 pandemic has adversely affected the growth of the global green building materials market due to a significant drop in demand. Production facilities were halted, and the supply chain was disrupted during the lockdowns. However, the market is steadily recovering as construction activities resume.
Exterior Products Segment Leading
In terms of product type, the exterior products segment dominated the market in 2020, holding over one-third of the global share and is projected to maintain its leadership status throughout the forecast period. The demand for exterior products, driven by increased repair and maintenance activities, especially in North America and Europe, remains robust. Meanwhile, the solar products segment is expected to exhibit the highest CAGR of 9.5% from 2021 to 2030, fueled by the increasing demand for energy-efficient buildings and supportive government regulations for a safer environment.
𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/430
Residential Buildings Segment at the Forefront
In the application segment, residential buildings accounted for the largest share in 2020, contributing to over half of the global green building materials market. This dominance is expected to continue during the forecast period, attributed to population surges and an increase in building regulations and policies. Conversely, the non-residential buildings segment is projected to showcase the highest CAGR of 8.7% from 2021 to 2030, driven by industrialization and institutional focus on energy-efficient buildings.
Regional Dominance
In terms of region, Europe, followed by North America, held the highest market share in 2020, making up nearly two-fifths of the global green building materials market. The European market is fueled by increased demand from hospitality and leisure applications, coupled with a focus on reducing operational and maintenance costs. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.1% during the forecast period, driven by increased construction activities due to population growth and government initiatives promoting environmentally friendly buildings.
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Key Market Players
Some of the leading players in the green building materials market include:
Alumasc Group Plc (UK)
Amvik Systems (Canada)
BASF SE (Germany)
Bauder Limited (UK)
Binderholz GmbH (Germany)
E. I. du Pont de Nemours and Company (U.S.)
Forbo International SA (Switzerland)
Interface Inc. (U.S.)
Kingspan Group Plc (Ireland)
Owens Corning (U.S.)
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