Global Green Building Materials Market
Global Green Building Materials Market Size More Than Doubles to Reach Whopping USD 857 Billion by 2030
Published | 12 February 2024
Global Green Building Materials Market is flourishing due to the increasing demand for insulation and energy efficient buildings and favorable government policies for green buildings.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Green Building Materials Market size at USD 420 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Green Building Materials Market size to expand at a CAGR of 10.73% reaching a value of USD 857 billion by 2030. The Global Green Building Materials Market is propelled by the increasing demand for energy-efficient structures that adhere to green building standards, the advantages associated with green buildings, and the increasing trends in urbanization coupled with a surge in disposable income. The trend of using green building materials instead of traditional construction materials is also expected to contribute to market growth. Green building materials have the benefit of reducing carbon footprints, which helps in reducing global warming. They are also energy-efficient, environmentally friendly, easy to maintain, and cost-effective. Hence, they are becoming the preferred choice over conventional construction materials. Another factor contributing to the market growth is the growing demand for these materials in construction projects that minimizes the environmental impact associated with manufacturing, installation, processing, transportation, recycling, and disposal of building materials. The shift in preference towards green building materials is projected to further boost the market growth. Also, the proactive implementation of policies and incentives by governments in developed countries to promote green construction is expected to increase the demand for green building materials over the forecast period.
Opportunities – Adoption of technological advancements
Rapid adoption of advancements in technology could propel the surge in demand for sustainable building materials. As industries increasingly adopt sustainable practices, the construction sector witnesses a growing need for green building materials to mitigate environmental impacts such as pollution, waste, and high energy use. These materials not only aid in regulatory compliance but also offer long-term benefits, including energy savings, reduced maintenance costs, and enhanced property values. Concurrently, the construction of smart cities amplifies the demand for green materials, utilizing sustainable materials to reduce carbon footprints and uphold air quality. Aligned with smart city goals, green building materials, featuring high energy efficiency, are integral in various smart city projects across countries.
Impact of Geopolitical Tensions on Global Green Building Materials Market
The Global Green Building Materials Market is significantly impacted by geopolitical tensions, particularly within the EU construction sector, which faces disruptions compounded by the ongoing conflict. These challenges include supply chain disruptions and spikes in energy and raw material prices. Notably, Italy's Ministry of Infrastructure and Transport reports a substantial increase in raw material costs since February 2023, attributing it to the Russia-Ukraine war. These elevated costs, combined with broader impacts on the construction industry, necessitate a careful assessment of the sanctions' repercussions, as contractors grapple with rising expenses. Green building, characterized by sustainable practices, is particularly affected, as industry showcases resilience amid profit declines and skilled labor shortages. Companies are urged to stay flexible, proactive, and efficient for sustained profitability, recognizing their crucial role in global growth and essential infrastructure provision, particularly within the context of the Global Green Building Materials Market.
Global Green Building Materials Market
Global Green Building Materials Market – By Application
On the basis of application, the Global Green Building Materials Market is bifurcated into Residential Buildings and Non-residential Buildings segments. The residential segment holds a higher share in the Global Green Building Materials Market by application. It is primarily driven by a rising preference for energy-efficient, durable, moisture-resistant, and easily maintainable materials. Personal safety, heightened awareness, and a positive inclination towards green building materials, coupled with governmental regulations, contribute to the continual growth in their use within residential applications. Noteworthy materials gaining popularity include fiber cement siding, thermally modified wood, bamboo, ashcrete, hempcrete, and recycled plastic, especially in the residential construction sector. Natural materials like cellulose, hemp, and cork find applications in insulation. Governments worldwide, including the United States, Spain, Singapore, and New Zealand, offer incentives, such as tax credits and subsidies, encouraging the construction of green residential projects.
Global Green Building Materials Market – By Region
The in-depth research report on the Global Green Building Materials Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America holds the highest share in the Global Green Building Materials Market, due to an escalating demand for the materials in roofing, insulation, framing, and applications spanning residential, industrial, commercial, and infrastructure sectors. The growth is fueled by the increasing preference for eco-friendly and energy-efficient buildings, aiming to optimize value while minimizing environmental impact. The adoption of green building practices also translates into financial advantages, including reduced energy costs. Government initiatives further propel market expansion in the region. Meanwhile, Asia Pacific region is expected to witness the fastest growth rate during the forecast period. It is propelled by the utilization of diverse green materials like galvalume panels, linoleum, and fiber cement composites. The North America Green Building Materials Market is expected to thrive due to the construction of new residential and industrial buildings and retrofits of existing structures.
The Global Green Building Materials Market is fragmented, with numerous players serving the market. The key players dominating the Global Green Building Materials Market include BASF SE, Dupont, Holcim, Interface Inc, Kingspan Group, Owens Corning, PPG Industries Inc., Saint-Gobain, and Sika AG. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Green Building Materials Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Green Building Materials Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Green Building Materials Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2030, Segmented By Product (Exterior Products, Interior Products, Building Systems, Solar Products); By Application (Residential Buildings, Non-residential Buildings); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA))
Publish Date: February 2024
A spurring demand for sustainable materials in insulation and constructing energy efficient buildings and favorable government policies for green buildings are expected to drive the Global Green Building Materials Market during the forecast period between 2024 and 2030.
Relevant Press Releases
- Saudi Arabia Sanitary Ware Market Set to Grow at Steady CAGR of 8.6% during 2022–2028
- Global Horizontal Directional Drilling Market Size Set to Grow at Steady CAGR of 5.7% Reaching USD 13.21 Billion by 2029
- GCC Prefabricated Buildings Market Size Set to Expand at 7.9% During 2023–2029, Touching USD 8.01 Billion by 2029
- India Faucet Market Size Set to Grow at Significant CAGR of 7.1% During 2023–2029
- Global Construction & Demolition Waste Market Expands to Cross USD 158 billion by 2029