South East Asia and Australia Green Building Materials Market, By Product Type (Exterior Products, Interior Products, Building Systems, Solar Products, Others), By Country (Singapore, Malaysia, Philippines, Indonesia, Thailand, Vietnam, Australia) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: September 2021
- Report ID: BWC2179
- Available Format: PDF
- Page: 112
Report OverviewSeveral factors such as increasing emphasis on sustainable development and expanding public and private investment in green building materials are boosting the South East Asia and Australia green building materials market
South East Asia and Australia Green Building Materials Market- Industry Trends & Forecast Report 2027
South East Asia and Australia green building materials market was worth USD 15.4 billion in 2020 and is further projected to reach USD 28.8 billion by the year 2027, growing at a CAGR of 9.4% in the forecast period. The market is gaining traction as a result of factors such as increased long-term investment in energy optimization, as well as growing concern for the environment and sustainability. In addition, the increasing development of eco-friendly materials by manufacturers are also driving the growth of green building materials in South East Asia and Australia.
Source: BlueWeave Consulting
South East Asia and Australia Green Building Materials Market- Overview
Green building materials are building construction materials made up of eco-friendly products that have a low impact on the environment. These materials are produced by renewable resources which can sustain heat, cold, and other climatic conditions. Some of the most commonly used raw materials used in green building materials are bamboo, straw, dimension stone, recycled metal, etc. Green building materials are good for the environment. Still, they also benefit the people who live in them, minimizing human health concerns. A green building promotes health and comfort by improving the quality of the indoor air. Moreover, they also reduce utility costs.
South East Asia and Australia Green Building Materials Market Forecast and Trends
Steadily increasing Green Building Construction
Both private and public institutions have increased investment in green buildings because of their growing importance in various spheres. Green buildings are environmentally friendly as they reduce carbon footprint and limit energy, water, and other materials. The use of natural ventilation through wind circulation and building orientation maintains a comfortable temperature during the hot summer months, besides reducing the use of air conditioning. As a result, the health and wellness of the residents and employees is positively impacted. Therefore, the demand for green buildings for residential and commercial use is expanding, propelling its market growth.
Expanding Government Investment and Initiatives Towards Sustainable Development
With expanding green building construction in South East Asian countries, the focus on sustainability and renewable materials is also increasing. Therefore, the governments of these countries are increasingly investing and taking various initiatives to promote the use of renewable building materials. For instance, the BCA Green Mark Scheme launched in 2005 significantly fueled Singapore's first green building initiative by encouraging construction companies to adoptgreen buildings by construction companies. Such initiatives are boosting the growth of the South East Asia and Australia green building construction materials market.
High Cost and Limited Awareness Towards Renewable Building Materials
Southeast Asia and Australia green building materials market is restrictive because of the lack of awareness regarding green building materials and high capital investment involved. Green building materials are more expensive than traditional building materials; therefore, most contractors avoid using them. Moreover, the use of green building materials in construction eventually increases the price of the residential or commercial building, which may impact its profit margin in the future.
Impact of COVID-19 on South East Asia and Australia Green Building Materials Market
With the sudden outbreak of the COVID-19-induced pandemic, several countries worldwide had to impose a lockdown to curb the spread of the virus. Because China was the source of the virus's spread, Asian countries were more vulnerable to the COVID-19 effect. Therefore, the governments of various South East Asian countries had to take drastic measures and impose a lockdown which significantly halted the construction of green buildings. As a result, the demand for green building materials declined significantly. However, this slump is expected to last only temporarily. The market is likely to flourish in the post-COVID-19 period.
Southeast Asia and Australia Green Building Materials Market - By Product Type
Based on product type, the South East Asia and Australia Green Building Materials market is categorized into exterior products, interior products, building systems, solar products, and others. Among these, the exterior product segment accounted for the largest market share. The availability of a diverse range of eco-friendly and renewable products for exterior building construction, such as composite lumber, fiber cement, lime, concrete slabs, slates, and so on, contributes to the growth of this market segment. These products offer lightweight and textured materials, because of which its demand is increasing at a high rate.
Southeast Asia and Australia Green Building Materials Market –Country Insights
Geographically, South East Asia and Australia green building materials market is segmented into Singapore, Malaysia, Philippines, Indonesia, Thailand, Vietnam, Australia. Singapore country dominates the market because of its strong financial foothold and economic background of this country. The high per capita income of the people as well as government initiatives and investment towards the adoption of sustainable options and resources are also significantly influencing the growth of the green building materials market in this region.
The leading market players in the South East Asia and Australia green building materials market are GreenPan, PT Bakrie & Brothers Tbk, Siam Cement Group, CSR Limited, Kee Kiong (A2Z) SDN BHD, James Hardie Australia Pty Ltd., AathaworldSdnBhd, Brickworks Building Products Ltd., PT Modern Panels Indonesia, Interface Inc., Holcim Vietnam, and other prominent players.
The industry participants engaged in offering a wide range of products to cater to the climatic needs of various regions. They invest significantly in R&D activities as well as product launches along with focusing on strengthening their distribution channel to improve their product penetration in the market. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, collaborations is also very prominent in this market.
In August 2021, property giants City Development Ltd. (CDL) and MCL Land announced to have secured USD 847 million green load package to support a joint venture for the development of two sustainable housing developments in Singapore.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Billion
Singapore, Malaysia, Philippines, Indonesia, Thailand, Vietnam, Australia
By Product, By Country
GreenPan, PT Bakrie & Brothers Tbk, Siam Cement Group, CSR Limited, Kee Kiong (A2Z) SDN BHD, James Hardie Australia Pty Ltd., AathaworldSdnBhd, Brickworks Building Products Ltd., PT Modern Panels Indonesia, Interface Inc., Holcim Vietnam, and other prominent players.
By Product Type
- Exterior Products
- Interior Products
- Building Systems
- Solar Products
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