The global green building materials market is worth US$ 334 Billion as of now and expected to reach US$ 962 Billion by the year 2033 at a whopping CAGR of 11.2% between 2023 and 2033.
Green building materials, as the name suggests, are used for constructing an environmentally-friendly building structure. The materials are inclusive of recycled plastic, wood, hempcrete, bales, bamboo, and ferrock. Thus, challenges like contamination of the freshwater resources, atmospheric pollution, anomalous climate change, depletion of natural resources, anomalous climate change could be kept at bay. In other words, green buildings are not only a concept to save the world, but to render the world healthier, safer, and richer.
The ongoing trend is that of marketing campaign shifting to Instagram, vlogs, blogs, and natural building magazines. They actually serve as a ready reckoner regarding advantages of green building materials helping them in finding segment according to their use. Canada Green Building Council report has mentioned the way government, as a part of proactive policies, does counter those spreading misinformation regarding green building materials.
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Future Market Insights has walked through these facets with future prospects in its latest market study entitled ‘Green Building Materials Market’. It has its team of analysts and consultants to deploy an eagle’s eye view across macros and micros.
“With sustainable building picking up, the global green building materials market is expected to grow stupendously in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Green Building Materials Market
- North America holds a significant market share with the US being subject to numerous initiatives for reducing carbon emissions. The government, in August 2022, did ink the inflation reduction act; which was regarding adoption of the low-carbon materials pertaining to civil projects. This bill implied that government announced an exorbitant amount of US$ 5 Billion for accelerating construction involving applying green building materials.
- Europe is expected to witness turbulence on this count due to the UK-based investors asking for eco-friendly building materials. Research states that the green construction vertical all across the UK is expected to witness an upsurge by ~21%.
- The Asia-Pacific is expected to grow at the quickest rate in the forecast period. China leads from the front. This could be credited to speedy urbanization. The government has floated low carbon plan; with over 90% of commercial building owners planning to possess more than zero-energy building in the subsequent decade.
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Competitive Materials
- BASF, in September 2022, did enter into agreement with ‘GS Engineering and Construction’ for jointly developing modular solutions to capture carbon.
- DuPont, in June 2022, did complete its biomaterial business’ divestiture.
- Binderholz GmbH, in January 2022, completed acquisition of BSW Timber Ltd. to turn out to be Europe’s biggest processor of solid wood and sawmill.
- Lafarge Egypt, in April 2021, came up with Ecolabel cement for the very first time. It does reduce carbon footprint, thereby catering to green criteria.
- Lhoist, in November 2020, tabled Tradical Hemcrete that happens to be recyclable. The product is mixture of water, hemp wood, and lime. It’s used for constructing walls and renovating old buildings as insulation materials.
- SmartLam North America, in May 2020, entered into partnership with RedBuilt for supplying CLT (Cross Laminated Timber) solutions with products to contractors, engineers, and architects for the projects using mass timber building technology. As such, the latter would be serving as exclusive distributor of SmartLam CLT on West Coast, Southwest, and Pacific Northwest.
- Saint-Gobain, in August 2022, completed acquisition of Kaycan (manufacturer as well as distributor of the exterior building materials in the US and Canada. The former thus strengthened its leadership in sustainable and light construction; thereby expanding the offering of vinyl’s across the US with various complimentary solutions in engineered wood and aluminum.
What does the Report materialize into?
- The research study is based on type (structural, interior, exterior, and likewise), by application (framing, insulation, roofing, and interior & exterior finishing), and by end-user (residential, commercial offices & buildings, and institutions).
- With flourishing construction sector coupled with demand for abstinence from environmental hazards, the global green building materials market is expected to grow on a good note in the forecast period.
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Market Segmentation
By Type:
- Structural
- Interior
- Exterior
- Others
By Application:
- Framing
- Insulation
- Roofing
- Interior & Exterior Finishing
By End User:
- Residential
- Commercial offices & Buildings
- Institutions
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- The Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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