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Definition of Market/Industry:

Green building materials are construction materials that are produced from recyclable products such as slag, rubber, stone granules sludge, and corrugated mixed paper. Green building materials are environmental-friendly, and promote energy conservation. Moreover, it also helps in reducing the environmental impact. Furthermore, they offer weather-resistance and superior durability property.

Market Statistics:

The global green building materials market is expected to surpass US$ 576.61 Mn in terms of Market value by the end of 2028.

Drivers:

Growing environmental concerns is encouraging the use of green building materials. Increasing green building activities which includes the use of sustainable materials is propelling the market growth. Growing initiatives to reduce the environmental impact and also reduce the dependency on the use of non-renewable sources materials is further propelling the market growth of the green building materials. Moreover, growing health awareness as the use of green building materials helps in reducing respiratory problems such as asthma is again escalating the market growth. 

Market Opportunities

The growing use of composite materials in green buildings is expected to bring new market opportunities over the forecast period. Composites are naturally-occurring materials produced from two or more constituent materials that differ in different chemical or physical properties. Composite materials have excellent properties such as energy-saving, lightweight, flexible, and are also LEED-certified. Thus, the growing use of composite materials in green buildings is projected to foster the market growth of the green building materials.

Global Green Building Materials Market: Recent Developments

  • In August 2020, Owens Corning announced a new product line called FOAMULAR NGX (Next Generation Extruded). The proprietary blowing agent in this new line of extruded polystyrene (XPS) foam products delivers a 90% reduction in global warming potential (GWP) without sacrificing product performance.
  • In July 2020, the Canadian green construction technology company, Nexii Building Solutions, announced a trio of new manufacturing plants across North America
  • In May 2020, SmartLam North America and RedBuilt announced their partnership to supply Cross-Laminated Timber (CLT) products and solutions to architects, engineers, and contractors for projects using the popular mass timber building technology

Market Restraints

Strict rules and regulation regarding the manufacturing and production processes adopted to produce green building materials is projected to hinder the market growth. For instance, there are standard rating systems such as LEED in the U.S. and Canada, the BREEAM in the U.K., the CASBEE in Japan and the DGNB in Germany. The World Green Building Council is another organization that is operating globally to connect different national green building councils.

Global Green Building Materials Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on green building materials market.

To know the latest trends and insights prevalent in the Green Building Materials Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/green-building-materials-market-259

Key Takeaways:

  • The global green building materials market was valued at US$ 259.41 Mn in 2020 and is forecast to reach a value of US$ 576.61 Mn by 2028 at a CAGR of 10.5% between 2021 and 2028.
  • The public facilities end user segment was valued US$ 53.16 Mn in 2020 and is expected to witness a CAGR of 11.5% over the forecast period.

Market Trends

Continuous product innovation by the key manufacturer in order to cater to increasing demand is a growing trend in the market. For instance, in July 2020, LafargeHolcim launched its ‘green concrete’ in the U.S., ECOPact, the concrete comes in a number of iterations. Moreover, it offers 30% to 100% fewer carbon emissions compared to standard (CEM I) concrete and the firm is also planning to introduce the product to Latin America, Canada, and the U.K. It is already available in Switzerland, Germany, and France.

The growing use of green building materials for insulation application is one of the emerging trends in the market. It is capable of saving energy which is boosting its demand across residential as well as the commercial construction sector. Also, roofing application is another emerging segment as these materials offer excellent weather-resistance property which is again driving product demand. Thus emerging aforementioned application of green building materials will favor the market growth in the near future.

Competitive Section:

Company Names 

  1. Alumasc Group Plc
  2. Amvik Systems
  3. BASF SE
  4. Bauder Limited
  5. Binderholz GmbH
  6. CertainTeed Corporation
  7. E. I. du Pont de Nemours and Company  
  8. Forbo International SA
  9. Interface Inc.
  10. Kingspan Group plc
  11. Lafarge
  12. Lhoist UK Ltd/Tradical
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