Green Building Materials market size is projected to reach US$ 372460 million by 2027, from US$ 204430 million in 2020, at a CAGR of 8.8% - Valuates Reports

The global Green Building Materials market size is projected to reach US$ 372460 million by 2027, from US$ 204430 million in 2020, at a CAGR of 8.8% during 2021-2027.

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Key drivers of the green building materials market include the growing demand for green and sustainable building materials in the construction industry.

The presence of key players and strict emission norms along with strong government support will propel the green building materials market in the upcoming years.

Moreover, the rapid technological developments and R&D initiatives for newer construction methods will spur market penetration during the review period.

Green Building Materials
In green building materials market, the materials used are recyclable products, which enhance the production environment and quality of life. These materials promote conservation of non-renewable resources and reduce environmental impact associated with fabrication, processing, installation, transportation, disposal, and recycling of building materials. Green building materials are employed in construction industry to address various environment challenges including anomalous climate change, natural resource depletion, atmospheric pollution, contamination of fresh water resources, and loss of biodiversity. Eco-friendly nature, durability, and energy efficiency of green building materials make them ideal for use in designing of residential and non-residential buildings.

Green Building Materials Market Trends
Rise in environmental awareness
Green construction is picking up leading to improved indoor air quality, energy efficiency, and superior insulation. Retrofitting and cost savings are crucial for achieving carbon-neutral goals. Schools, communities, high-rise buildings, residential and non-residential complexes are going green. They not only save precious resources but also aid in social well-being. The transition is key to addressing climate change and meeting sustainable development goals which in turn will drive the growth of the green building materials market in the future.

Policy incentives and government backing
Sustainable buildings are more cost-effective than traditional construction materials as they provide energy efficiency and water conservation during the initial operational stage. Governments around the world are busy revising regulations and tweaking norms to introduce economic incentives to developers. Moreover, green rating programs, councils, and certifications such as LEED( Leadership in Energy and Environmental Design) have been set up to make regulatory mandates compulsory for sustainability clams. This in turn will significantly boost the penetration of the green building materials market during the forecasted period.

Innovative use of building materials
Green construction offers scope for using eco-friendly materials in every aspect of its design. Solar power panels and biodegradable materials such as organic paints limit the release of toxins. In addition to it, green insulation is a major trend in the industry. They are wall filters made from recycled denims or newspapers to line the walls. Moreover, smart appliances such as motion detectors, access cards, and sensors determine the occupancy status and adjust the room temperature and ventilation accordingly. These factors provide huge scope for the growth of the green building materials market in the near future.

Green Building Materials Market Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

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This release was published on openPR.