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Green Building Material Market May See a Big Move with an Opportunity of USD 822.1 Billion by 2032

03-17-2023 12:55 PM CET | Industry, Real Estate & Construction

Press release from: Acumen Research and Consulting

Green Building Material Market May See a Big Move with

Global Green Building Material Market Size in 2022 was USD 310.7 Billion, Market Value set to reach USD 822.1 Billion at 10.3% CAGR by 2032

Green Building Material Market Overview

The Green Building Material Market is a rapidly growing industry, driven by the increasing demand for environmentally-friendly and sustainable building materials. These materials are designed to minimize the negative impact on the environment while maximizing energy efficiency and minimizing waste. The market includes a wide range of products such as eco-friendly insulation, renewable energy systems, recycled building materials, and water-saving technologies. Green building materials find applications in residential, commercial, industrial, and infrastructure sectors, where the use of these materials can help in reducing carbon emissions, improving indoor air quality, and reducing energy consumption. With supportive government policies and increasing awareness among consumers, the Green Building Material Market is expected to witness significant growth in the coming years.

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Green Building Material Market Research Report Highlights and Statistics

● The global Green Building Material market size in 2022 stood at USD 310.7 Billion and is set to reach USD 822.1 Billion by 2032, growing at a CAGR of 10.3%
● Key factors driving the growth of the Green Building Material Market include rising concerns about climate change and the need to reduce carbon emissions, increasing awareness among consumers about the benefits of sustainable building materials, and supportive government policies and regulations promoting the use of green building materials.
● The Asia-Pacific region is expected to be the fastest-growing market, with increasing investments in green building projects and supportive government initiatives.
● Players operating in the Green Building Material Market include Interface Inc., Owens Corning, Kingspan Group, Bauder Ltd., BASF SE, CertainTeed Corporation, and others.

Trends in the Green Building Material Market

● Growing adoption of sustainable and green building certifications such as LEED and BREEAM, driving demand for green building materials.
● Increasing use of recycled and reclaimed materials, reducing waste and environmental impact.
● Growing focus on reducing carbon footprint of buildings, driving demand for materials with low embodied carbon.
● Integration of energy-saving technologies such as solar panels, smart lighting and heating systems, and energy-efficient windows and doors.
● Increasing use of biodegradable materials, reducing environmental pollution.
● Development of new building materials using renewable resources such as bamboo and hemp, reducing dependence on traditional building materials.
● Growing use of green roofs and walls, reducing urban heat island effect and improving air quality.

Green Building Material Market Dynamics

● Concerns over the negative impact of buildings on the environment and the need to reduce carbon emissions.
● Rising demand for low-VOC (volatile organic compounds) products, improving indoor air quality and reducing health risks.
● Adoption of circular economy principles in building materials, encouraging product reuse and recycling.
● Development of sustainable and eco-friendly alternatives to traditional cement and concrete, reducing carbon emissions and improving energy efficiency.
● Emergence of new technologies like 3D printing and modular construction, enabling more efficient and sustainable building practices.
● Increasing use of water-saving technologies like low-flow fixtures, rainwater harvesting, and greywater recycling systems.
● Growing focus on social sustainability and ethical sourcing of materials, promoting fair labor practices and reducing environmental impact.
● Rising demand for energy-efficient buildings to reduce energy consumption and lower operating costs.

Growth Hampering Factors in the market for Green Building Material

● High initial costs of green building materials, which may deter some consumers and builders from adopting them.
● Perception that green building materials may have inferior quality or durability compared to traditional building materials.
● Concerns over the reliability and longevity of some new and innovative green building materials.
● Limited availability of skilled labor and contractors trained in green building practices.
● Limited availability of financing options and incentives for green building projects.
● Difficulty in retrofitting existing buildings with green building materials and technologies.

Market Segmentation

● By Type
○ Building Systems
○ Solar Products
○ Interior Products
■ Floorings
■ Insulation
○ Exterior Products
■ Windows
■ Siding
■ Roofing
■ Doors

● By Application
○ Non-residential Buildings
■ Commercial & Office
■ Institutional
■ Industrial
■ Hospitality & Leisure
■ Others
○ Residential Buildings

Green Building Material Market Key Players

Key players in the market include BASF SE, Owens Corning, CertainTeed Corporation, Kingspan Group, PPG Industries, Saint-Gobain S.A., Interface Inc., Armstrong World Industries, Inc., DuPont de Nemours, Inc., Alumasc Group plc, Bauder Ltd., Binderholz GmbH, CalStar Products, Inc., Forbo International SA, LafargeHolcim Ltd, RedBuilt LLC, Tata Steel Europe Ltd, Trivselhus AB, and Wienerberger AG.

Green Building Material Market Overview by Region

● North America's Green Building Material market share is the highest globally, driven by a combination of government incentives, consumer demand, and certification programs. The United States has several green building certification programs such as the Leadership in Energy and Environmental Design (LEED) program, which is a driving force for the adoption of green building materials. Canada has also been a leader in sustainable building, with the Canada Green Building Council's Zero Carbon Building Program promoting low-carbon buildings.
● The Asia-Pacific region's Green Building Material Market share is also huge and is growing at the fastest rate, driven by rapid urbanization and industrialization, as well as government initiatives to reduce carbon emissions. China is the largest market for green building materials in the region, with the Chinese government promoting sustainable building practices through initiatives such as the Green Building Evaluation Label and the Three Star System for energy-efficient buildings.
● Europe is another key market for Green Building Material, driven by stringent environmental regulations and building codes. The European Union's Energy Performance of Buildings Directive mandates the use of energy-efficient and renewable energy technologies in new and renovated buildings. This has led to the development of innovative building materials such as green roofs and walls, as well as the integration of solar panels and other renewable energy technologies into building design.
● The South American and MEA regions have a promising and emerging Green Building Material market share.

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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