Green Building Materials Market Projections: Size, Share & Trends
In its latest research report titled “Green Building Materials Market by Type, Product, Application, Sector, and Geography – Global Forecast to 2031,” Meticulous Research® projects that the green building materials market will grow to $791.8 billion by 2031, with a compound annual growth rate (CAGR) of 9.9% during the forecast period of 2024 to 2031.
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This growth is driven by increasing demand for energy-efficient and eco-friendly construction solutions, rising awareness of environmental sustainability, and favorable government regulations promoting green building practices. However, the higher upfront costs associated with these materials compared to traditional building products might slow down market expansion.
Nevertheless, the growing emphasis on sustainability will provide lucrative opportunities for market players. Lack of awareness about green building materials, their benefits, and their availability remains a significant hurdle.
The market is categorized by type, including recycled materials, natural materials, and other materials. Recycled materials, such as recycled steel and glass, are expected to capture more than 54.0% of the market share in 2024. Government policies aimed at reducing construction waste and promoting recycling will play a major role in driving this segment’s growth.
Based on product type, the market is segmented into exterior, interior, solar, and other products. Exterior products are forecasted to account for over 43.0% of the market in 2024, propelled by the increasing adoption of energy-efficient insulation and roofing materials, which help reduce heating and cooling costs in buildings.
In terms of application, the roofing segment is expected to dominate the market with a share exceeding 40.0% in 2024. This growth is largely due to the rising demand for energy-efficient and sustainable roofing materials in residential construction.
On a sector basis, the residential market is expected to account for 42.0% of the green building materials market in 2024. The demand for energy-efficient homes, alongside government support for sustainable building practices, will continue to drive this segment’s growth. Furthermore, the residential sector is anticipated to experience the highest CAGR during the forecast period.
Regionally, North America is expected to hold a market share of over 35.0% in 2024. This dominance is attributed to the presence of leading market players, government initiatives, and increasing consumer awareness about energy efficiency and sustainability. Meanwhile, the Asia-Pacific region will likely experience the fastest growth, with a CAGR of 11.0%, driven by rapid infrastructure development in countries like Japan, South Korea, and India.
Key Players
The key players operating in the green building materials market are DuPont de Nemours, Inc. (U.S.), Holcim Group (Switzerland), Interface Inc. (U.S.), Kingspan Group plc (Ireland), Owens Corning (U.S.), PPG Industries, Inc. (U.S.), Sika AG (Switzerland), Bauder Ltd. (U.K.), Amvic Inc. (Canada), Binderholz GmbH (Germany), Alumasc Group Plc (U.K.), BASF SE (Germany), CertainTeed, LLC. (U.S.), Forbo International SA (Switzerland), and LG Hausys Ltd (South Korea).
To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/green-building-materials-market-5985
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of material, product, application, and sector?
- What was the historical market size for green building materials globally?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the green building materials market?
- Who are the major players in the green building materials market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the green building materials market?
- What are the various growth strategies adopted by major market players?
- What are the major market trends, and which are the high-growth countries?
- Who are the local emerging players in the green building materials market, and how do they compete with other players?
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