The latest report by IMARC, titled “Green Building Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global green building materials market size reached US$ 312.5 Billion in 2022. Green building materials refer to materials that are highly energy efficient and made from renewable waste products. They also enhance the sustainability and efficiency of the construction, design, renovation, and maintenance of building structures. Some of the most commonly used materials for the production of green buildings include bamboo and wood, mycelium, recycled plastic, hempcrete, straw bales, timbercrete, rammed earth, and grasscrete. In recent years, the demand for green building materials has been escalating due to the increasing number of construction activities and the growing awareness about the adverse effects of conventionally used construction materials.
Global Green Building Materials Market Trends:
One of the primary factors driving the market is the increasing environmental consciousness among the masses. Additionally, green building materials are extensively adopted in the construction industry as they reduce the environmental impact related to transportation, installation, manufacturing, processing, recycling, and disposal, thereby creating a positive market outlook. Other than this, green building materials are gaining popularity as they minimize carbon emissions, thus reducing global warming. Besides this, due to their environment-friendliness, durability and minimal operational and maintenance costs, there has been a wide application of these green building materials in residential and non-residential sectors, which is propelling the market growth. Moreover, governments of various nations are creating favorable policies and initiatives to improve the overall performance of the buildings by setting minimum benchmarks for energy efficiency and other parameters. Looking forward, IMARC Group expects the market value to reach US$ 562.7 Billion by 2028, expanding at a CAGR of 10.1% during the forecast period (2023-2028).
- Based on the application, the market has been divided into insulation, roofing, framing, interior finishing, exterior siding, and others. Based on the application, insulation accounts for the majority of the overall market share.
- Region-wise, North America holds the leading position in the market. Other major regions include Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with some of the key players being Alumasc Group plc, Bauder Limited, Binderholz GmbH, CertainTeed Corporation, RedBuilt LLC, PPG Industries, DuPont, Forbo International SA, Interface Inc., Kingspan Group Plc, Lafarge, BASF SE, Owens Corning, and National Fiber.
|Base Year of the Analysis
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Alumasc Group Plc, Bauder Limited, Binderholz GmbH, CertainTeed Corporation, RedBuilt, LLC, PPG Industries, DuPont, Forbo International SA, Interface Inc., Kingspan Group plc, Lafarge, BASF SE, Owens Corning and National Fiber
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