The green building materials market report also sheds light on the supply chains and changes in the trends of upstream raw materials and downstream distributors.
NEW YORK, NY, USA, August 11, 2022 /EINPresswire.com/ — The Global green building materials market is expected to reach $573.91 billion by 2027, according to a new report from Reports and Data. Green building is a technology for developing environmentally friendly infrastructure. The objective of these structures is to reduce the negative impacts of residential and commercial construction on human health and the environment through better site selection, construction, design, maintenance and disposal to the maximum, while throughout the entire life cycle of green building materials.
The positive effect of these materials on human health is mainly driving the market. Additionally, governments in various developed countries are facilitating high-performance green buildings; the US Recovery and Reinvestment Act is an example. Due to frequent climatic changes and extreme weather conditions, consumers prefer to adopt green roof technology to maintain the temperature inside the structure as well as to catch rainwater. However, the unavailability of high performance and environmentally friendly green building materials and cost issues are the major factors hampering the growth of the market.
The construction cost of green buildings is higher than that of typical buildings. The market is anticipating significant growth owing to stringent regulations enacted by the North American and European governments, which emphasize green building technologies. Also, the attempts of various NGOs and companies to create awareness for the adoption of sustainable technologies would boost the market for green building materials in the future.
The market exhibits an increasing activity of long-term integration by raw material suppliers owing to the growing demand and endless growth prospects of the market. The regional dominance of industry participants is expected to decrease due to growing import demand. This trend is expected to continue over the next few years and is expected to propel the growth of the market.
The impact of COVID-19:
The COVID-19 pandemic is expected to have a massive downward impact on the global green building materials market in 2020 due to the shutdown of residential and commercial construction applications, which are responsible for the large demand. Post-pandemic, however, the trends discussed in the global market study hold.
In addition, supply chain disruptions and production stoppages have resulted in a downward revision of the production outlook for green building materials, which will have short-term impacts on market sales that could have lasting effects. While the industry expects things to return to a near-normal state well before the end of 2020, the negative demand shock caused by the crisis is likely to last.
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Major participants include PPG Industries, Interface Inc., Kingspan Group Plc, Lafarge, Owens Corning, National Fiber, RedBuilt, LLC, Binderholz GmbH, Bauder Limited, and Alumasc Group, among others.
Other key findings from the report suggest
• The exterior cladding segment is expected to grow at a significant rate of 11.5% over the forecast period, with increasing demand for smart lighting, solar products, building systems and HVAC systems.
• Declining cost of green buildings over time and growing awareness of recycled construction are likely to generate opportunities for the residential construction market over the forecast period.
• North America has led the global market, with government efforts and regulations to mandate the use of green building materials and to increase awareness.
• The Asia-Pacific region is expected to witness significant growth in the global market over the forecast period. Southeast Asia has seen significant growth in the adoption of sustainable building practices. This is mainly attributed to growing concerns over national energy security and environmental degradation in several countries, such as Thailand, Hong Kong, Malaysia, Singapore and Indonesia.
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For the purposes of this report, the reports and data have been segmented into the global green building materials market on the basis of product, end-user industry, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
End User Industry Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
• Interior finish
Market Segmentation by Regions:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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To summarize everything stated above, the report offers key insights of Green Building Materials market to enable the reader to gain comprehensive understanding of the global Green Building Materials market through accurate estimations, panoramic view of the market scenario, competitive landscape, factors influencing market growth, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study provides an in-depth view of the industry to provide a competitive edge to the reader and help them formulate beneficial investment plans. The report provides a comprehensive market overview with facts relating to the past, present and future of the global green building materials market.
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