Green Building Materials Market to Surpass USD 929.27 Billion by 2030 Driven by Rising Consumer Demand and Increasing Regulatory Initiatives | By SNS Insider
According to SNS Insider’s research, the green building materials market’s growth is fueled by a combination of environmental awareness, regulatory support, cost considerations, innovation, and changing consumer preferences
Pune, Nov. 17, 2023 (GLOBE NEWSWIRE) — The Green Building Materials Market as per the SNS Insider report, reached USD 370 billion in 2022 and is projected to achieve USD 929.27 billion by 2030, with a compound annual growth rate (CAGR) of 12.2% anticipated over the forecast period from 2023 to 2030.
Green building materials encompass a diverse range of products and techniques designed to reduce the environmental impact of construction. These materials prioritize resource efficiency, energy conservation, and eco-friendly manufacturing processes. Common examples include recycled steel, bamboo, reclaimed wood, energy-efficient insulation, and low-emission paints. The overarching goal is to create structures that are not only durable and aesthetically pleasing but also contribute to a healthier planet.
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Growing global awareness of climate change and environmental degradation is a significant driver for the adoption of green building materials. Consumers, businesses, and governments are increasingly recognizing the need for sustainable construction practices. Ongoing research and development in the field of green building materials lead to continuous innovation. This includes the development of new materials with enhanced sustainability features, further driving green building materials market growth. The increasing eco-consciousness of consumers is influencing purchasing decisions. Homebuyers and tenants are actively seeking properties that prioritize sustainability, thereby pushing the demand for green building materials. While the initial costs of green building materials may be higher, the long-term savings in energy consumption, maintenance, and operational costs make them an attractive investment. This financial incentive encourages builders and developers to embrace sustainable construction.
Key Takeaway from Green Building Materials Market Study
- The roofing segment stands poised to assert its dominance in the burgeoning green building materials market. As sustainability becomes an increasingly integral consideration in construction practices, roofing materials play a pivotal role in promoting eco-friendly structures. Green roofing materials are designed to minimize environmental impact by incorporating recycled content, reducing energy consumption, and enhancing overall building performance.
- The building systems segment emerges as a frontrunner in shaping the future of sustainable construction. Building systems encompass a comprehensive range of components, including structural elements, insulation, HVAC (Heating, Ventilation, and Air Conditioning) systems, and integrated technologies. The integration of these systems not only enhances energy efficiency but also contributes to the overall sustainability of a building.
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- Xeriant, a leading player in the green technology sector, has announced the appointment of a key executive from TMF Corporation to spearhead its upcoming manufacturing subsidiary dedicated to green building materials. With a proven track record at TMF Corporation, the appointee is expected to play a pivotal role in driving innovation and overseeing the production of eco-friendly materials that align with Xeriant’s sustainability goals.
- Betolar, a pioneering provider of sustainable construction solutions, has inked a strategic deal with Trung Hieu Development Corporation for the production of cement-free concrete. With Betolar’s cutting-edge technology in cement-free concrete production, the partnership with Trung Hieu Development Corporation is poised to bring about a paradigm shift in the construction sector by reducing carbon emissions and minimizing the ecological impact of traditional concrete manufacturing.
Market Dynamics Analysis
The green building materials market is experiencing dynamic shifts driven by a confluence of factors that reflect a global commitment to sustainable and eco-friendly construction practices. One of the primary drivers propelling the market is the increasing awareness and emphasis on environmental conservation. With a growing concern for climate change and the depletion of natural resources, there is a heightened demand for construction materials that minimize the environmental impact throughout their life cycle. Government regulations and incentives also play a pivotal role, as many countries are implementing stringent norms and offering financial incentives to encourage the adoption of green building practices. However, amidst these positive drivers, certain challenges and restraints must be navigated. Cost considerations pose a significant challenge, as green building materials are often perceived as more expensive than traditional counterparts. Educating stakeholders about the long-term economic and environmental benefits of these materials is crucial to overcoming this hurdle.
Key Regional Developments
In North America, the green building materials market is driven by a strong emphasis on environmental conservation, coupled with a rising awareness of energy efficiency. Stringent building codes and government initiatives promoting sustainable construction practices have significantly contributed to the market’s growth. Europe has been at the forefront of sustainable development, and the market in the region reflects this commitment. Stringent regulations, such as the European Union’s Energy Performance of Buildings Directive, have propelled the adoption of energy-efficient materials. The Asia-Pacific region is witnessing a rapid increase in urbanization and infrastructure development, driving the demand for green building materials. Governments across the region are implementing policies to promote sustainable construction and reduce carbon emissions.
Impact of Recession
The ongoing recession presents both challenges and opportunities for the green building materials market. The recession has triggered a slowdown in construction activities worldwide, impacting both residential and commercial projects. As budget constraints become more pronounced, traditional building materials may seem more cost-effective in the short term. This poses a unique challenge for the market, which has been gaining traction due to its long-term environmental benefits. The recession has historically been a catalyst for innovation. The market may witness a surge in research and development efforts aimed at making eco-friendly options more economically viable. This section of the research explores emerging technologies and innovations that could reshape the landscape of green construction materials.
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TABLE OF CONTENT
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Green Building Materials Market Segmentation, By Product Type
8.1 Interior Product
8.2 Exterior Products
8.3 Solar Products
8.4 Building Systems
9. Green Building Materials Market Segmentation, By Application
9.4 Exterior Sliding
9.5 Interior Finishing
10. Green Building Materials Market Segmentation, By End User
10.1 Residential Buildings
10.2 Non-Residential Buildings
11. Regional Analysis
11.2 North America
11.3.1 Eastern Europe
188.8.131.52 Rest of Eastern Europe
11.3.2 Western Europe
184.108.40.206 Rest of Western Europe
11.4.8 South Korea
11.4.12 Rest of Asia-Pacific
11.5 Middle East & Africa
11.5.1 Middle East
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle East
22.214.171.124 South Africa
126.96.36.199 Rest of Africa
11.6 Latin America
11.6.8 Rest of Latin America
12 Company Profile
12.1 Binderholz GmbH
12.2 Alumasc Group Plc
12.5 green building solutions
12.6 Bauder Limited
12.7. Kingspan Group plc
12.9 PPG Industries
12.10 CertainTeed Corporation
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
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