According to the latest report by IMARC Group, titled "Green Building Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global green building materials market size reached US$ 248 Billion in 2019. Green building materials refer to recyclable alternatives to conventionally used construction materials. They are essential in reducing the environmental impact of installation, fabrication, disposal, transportation and recycling commonly used building materials. They are preferred as the ideal construction material in residential and non-residential sectors due to their enhanced durability and energy efficiency. They are also associated with reduced operational and maintenance costs. These materials are either naturally available or derived from natural resources. Some of the most commonly utilized green construction materials include stone, wood, bamboo, ferrock, hempcrete, timbercrete, straw bales and recycled plastic.
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 market is primarily driven by significant growth in the construction sector in recent years. Rapid urbanization and inflating per capita income levels of the masses have contributed to the increasing demand for high-performance green building materials. They assist in enhancing the efficiency and sustainability of building structures in terms of design, construction, maintenance and renovation. Growing awareness regarding the adverse effects of carbon emissions and the consequently shifting preference toward eco-friendly alternatives have also led to the widespread preference for green construction, thereby facilitating the market growth. Apart from this, governments of numerous countries are not only promoting green and sustainable construction but also implementing certain environmental-friendly and energy-efficient building standards and codes. This, in turn, is creating a positive outlook for the market. Moreover, the adoption of these model codes and standards for green buildings aids in enhancing the overall performance of the buildings by setting minimum benchmarks for energy efficiency and other parameters. This, along with the abundant availability of essential green building materials on the global level, is driving the market further. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the application, insulation exhibits a clear dominance in the market. Other major segments include roofing, framing, interior finishing, exterior siding and others.
- On the geographical front, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America holds the leading position in the market, accounting for the majority of the total market share.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include 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.
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