According to the latest report by IMARC Group, titled “Green Building Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global green building materials market size reached a value of US$ 299 Billion in 2020. Green building materials are either naturally available or composed of recyclable and renewable waste products. Some of the most commonly used green building materials are stone, wood, bamboo, hempcrete, timbercrete, straw bales and recycled plastics. They reduce the environmental impact of installation, transportation, fabrication, disposal and recycling of the building structure. Green building materials are durable, energy-efficient and incur minimal operational and maintenance costs. As a result, they are extensively used as ideal construction materials in both residential and non-residential sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Green Building Materials Market Trends:
The global green building materials market is primarily driven by the increasing number of construction activities worldwide. Green building materials provide enhanced efficiency and sustainability to building structures in terms of design, construction, maintenance, and renovation. Besides this, the growing awareness about the adverse effects of conventionally used construction materials has resulted in a shift toward eco-friendly alternatives. Due to this, governments of different countries are implementing various environment-friendly and energy-efficient building standards and codes. These codes and standards have helped improve the overall performance of the buildings by setting minimum benchmarks for energy efficiency and other parameters, thereby escalating the demand for green building materials. Looking forward, the market is expected to exhibit a CAGR of 9% during the forecast period (2021-2026).
- Based on the application, the market has been segmented into insulation, roofing, framing, interior finishing, exterior siding and others. Amongst these, insulation dominates the market, accounting for the majority of the market share.
- On the geographical front, North America exhibits a clear dominance in the market. Other major regions are Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being Alumasc Group plc, Bauder Limited, Binderholz GmbH, CertainTeed, RedBuilt LLC, PPG Industries, Inc., DuPont de Nemours, Inc., Forbo International SA, Interface Singapore Pte. Ltd, Kingspan Group, LafargeHolcim Ltd, BASF SE and Owens Corning.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal