Global Green Building Materials Market is estimated to be valued at US$ 259.41 Million in 2021, according to the Global Green Building Materials Market Report, by Application (Framing Insulation, Roofing, Exterior siding, Interior fin, and Other), by End User (Public facilities, Education, Commercial and Industrial, Healthcare, R&D centers Residential, and Others) by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Global green building materials market was valued at US$ 259.41 Million in 2021. The green building materials market is expected to register a CAGR of 10.8% over the forecast period (2022–2030), to reach US$ 649.71 Million by 2030.
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 environment-friendly and promote energy conservation. Moreover, it helps in reducing the environmental impact. Furthermore, they offer weather-resistance and superior durability properties.
The COVID-19 outbreak has had an adverse impact on various industries around the globe. Due to strict rules and regulations had been undertaken by governments to curb the spread of the infection, companies were looking to function remotely. Additionally, various companies had shut down their manufacturing units which had an adverse impact on the green building materials market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/green-building-materials-market-259
Browse 50 market data tables* and 40 figures* on "Global Green Building Materials Market” - Forecast to 2030.
Key Trends and Analysis of the Global Green Building Materials Market:
- Continuous product innovation by key market players in order to cater to increasing demand is a growing trend in the market. For instance, in July 2020, LafargeHolcim, a global leader in innovative & sustainable building materials launched its ‘green concrete’, ECOPact in the U.S. 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 sectors. Roofing application is another emerging segment, as these materials offer excellent weather-resistance property. Thus, growing applications of green building materials will favor the market growth in the near future.
Key Takeaways of the Global Green Building Materials Market:
- On the basis of application, the Insulation segment held a dominant position in the market and accounted for 21.4% share in the global green building materials market in 2021.
- According to Coherent Market Insights, North America accounted for the highest market in terms of revenue in 2021. Stringent regulations in the construction market in North America have prompted a shift to the green building technology. Accounting for over 30% share, North America is a prominent consumer of green building materials in the world.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the green building materials are key strategies adopted by players in the global green building materials market. For instance, in July 2021, BASF, a Germany-based multinational chemical company and Porsche, a Germany-based automobile manufacturer, partnered to develop high-performing lithium-ion batteries for electric vehicles as lithium is a resource that can be recycled repeatedly.
