The green building materials market is currently being catalysed by a growing demand for structures with low greenhouse gas emissions. In addition, the reduced operational and maintenance costs provided by the construction of new green buildings due to less energy consumption is further stimulating the demand for these materials. According to the latest report by IMARC Group, titled “Green Building Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global green building materials market reached a value of US$ 223.1 Billion in 2018.
Green Building Materials refer to materials which enhance the sustainability and efficiency of a building structure in terms of design, construction, maintenance and renovation. These materials are derived from renewable waste products and are highly energy efficient. Some of the popular materials used in the construction of green buildings are bamboo, hempcrete, straw bales, mycelium, wood, rammed earth, timbercrete, grasscrete, recycled plastic, etc. Over the past few years, Green Building Materials have been widely utilized in various construction activities as they reduce environmental impact associated with installation, transportation, fabrication, processing, disposal and recycling of building materials.
Additionally, the rising adoption of green buildings due to the increasing awareness pertaining to the health and environment hazards of carbon emission has resulted in fostering the growth of the market worldwide. Moreover, the favourable policies and initiatives offered by various governments, particularly in the developed nations, to encourage green construction is further giving impetus to the market. Looking forward, the market is projected to reach a value of US$ 432.5 Billion by 2024, registering a CAGR of 11.7% during 2019-2024.
Market Breakup by Application:
On the basis of application, insulation accounts for the largest market share followed by roofing, framing, interior finishing, exterior siding and others.
Market Breakup by Region:
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, holding the majority of the market share.
The competitive landscape of the market has also been examined 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.
This report provides a deep insight into the global green building materials market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the green building materials industry in any manner.
Key Questions Answered in This Report:
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