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Pune, India, March 02, 2023 (GLOBE NEWSWIRE) — The global green building materials market is expected to gain momentum from their increasing need to construct eco-friendly building structures. Fortune Business Insights™ published this information in an upcoming report, titled, “Green Building Materials Market Size, Share & Industry Analysis, and Regional Forecast, 2023-2030.” The report further mentions that green building materials include Ferrock, bales, bamboo, recycled plastic, wood, and straw hempcrete.
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The green building materials market refers to the market for materials that are environmentally friendly and sustainable, and are used in the construction of buildings. These materials are typically made from renewable resources or recycled materials and are designed to minimize the environmental impact of buildings.
The market for green building materials has been growing rapidly in recent years, as more and more building owners, developers, and architects seek to reduce the environmental impact of their projects. The industry is expected to continue to grow in the coming years, as more and more building owners and developers seek to reduce their environmental impact and create more sustainable buildings.
A list of all the green building materials manufacturers operating in the market:
- PPG Industries
- Forbo International SA
- Interface Inc.
- Kingspan Group plc
- BASF SE
- Owens Corning
- National Fiber
- RedBuilt, LLC
- CertainTeed Corporation
- Binderholz GmbH
- Bauder Limited
- Alumasc Group
Drivers & Restraints-
Rising Development of Energy-efficient Structures to Bolster Demand
Nowadays, green building materials are gaining more popularity as the development of energy-efficient structures is surging worldwide. This is further helping to maintain the ecological balance in nature. Numerous environmental challenges, such as depletion of natural resources, anomalous climate change, loss of biodiversity, contamination of freshwater resources, and atmospheric pollution can be prevented with the extensive usage of green building materials. Hence, they are considered to be the most suitable alternative to traditional construction materials.
The green building materials market has several drivers and restraints that are shaping its growth and development. Here’s a closer look at some of the key drivers and restraints:
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- Increasing environmental awareness: As more people become aware of the negative impact that construction can have on the environment, there is growing demand for more sustainable and eco-friendly building materials.
- Government regulations and incentives: Many governments around the world are implementing regulations and incentives to promote the use of green building materials, which is driving demand for these products.
- Cost savings: Green building materials can help reduce energy and water consumption, leading to long-term cost savings for building owners and operators.
- Health benefits: Green building materials can improve indoor air quality and reduce exposure to harmful chemicals, which can improve the health and well-being of building occupants.
- Higher upfront costs: Green building materials can be more expensive than traditional materials, which can make them less attractive to some building owners and developers.
- Limited availability: Some green building materials, particularly those made from renewable resources, may be limited in availability, which can constrain the growth of the market.
- Lack of awareness and education: Many people are still not aware of the benefits of green building materials, and there may be a lack of education and training around their use.
- Technical challenges: Some green building materials may be more difficult to work with or require specialized skills, which can add complexity to construction projects.
Overall, while there are several challenges to the growth of the green building materials market, the drivers are expected to continue to outweigh the restraints in the coming years, as more people become aware of the benefits of sustainable building practices and demand for green building materials continues to grow.
The green building materials market varies significantly across different regions of the world, with some regions experiencing higher growth rates and demand than others. Here’s a brief regional analysis of the green building materials market:
- North America: The green building materials market is well-established in North America, driven by strong government regulations, incentives, and consumer demand. The United States has one of the largest green building materials markets in the world, with a focus on recycled materials, low-emission materials, and energy-efficient materials.
- Europe: Europe is another mature market for green building materials, with a strong focus on sustainable building practices and green building certifications. The region has been a leader in the development of renewable materials, such as wood-based products. Europe is expected to show considerable growth on account of the high demand for green building materials from hospitality & leisure applications.
- Asia-Pacific: The Asia-Pacific region is one of the fastest-growing markets for green building materials, driven by rapid urbanization, increasing environmental awareness, and government incentives. China is the largest market for green building materials in the region, with a focus on renewable materials and energy-efficient materials.
- Latin America: The green building materials market is still emerging in Latin America, but it is expected to grow rapidly in the coming years, driven by increasing demand for sustainable buildings and government incentives. Brazil and Mexico are the largest markets in the region.
- Middle East and Africa: The green building materials market is still in the early stages of development in the Middle East and Africa, but it is expected to grow rapidly in the coming years, driven by increasing urbanization and government initiatives. The United Arab Emirates and South Africa are the largest markets in the region.
Overall, the green building materials market is growing rapidly around the world, driven by increasing environmental awareness, government regulations and incentives, and cost savings. However, the market is still relatively small compared to the overall construction materials market, and there are significant regional variations in growth and demand.
Key Companies Focus on Launching Innovative Products to Expand Portfolios
The market for green building materials consists of numerous big, small, and medium-sized companies. They are mainly investing in extensive research and development activities to launch state-of-the-art materials.
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