Green Building Materials Market is Projected to Reach USD 983 billion by 2031, with a 12.7% CAGR| Analysis by Transparency Market Research, Inc.

Wilmington, Delaware, United States, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global green building materials market was estimated at a value of US$ 264 billion in 2020. It is anticipated to register a 12.7% CAGR from 2021 to 2031 and by 2031, the market is likely to attain US$ 983 billion by 2031.

Global interest in green construction materials is growing because of their many advantages. These materials do not harm both the environment and human health. Favorable government measures to promote the usage of green building materials in the construction industry are another factor propelling the global market. Using green building materials contributes greatly to the conservation of non-renewable resources.

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Market Trends for Green Building Materials

• The rapid expansion of cities and the increasing global population are placing significant pressure on natural resources. To promote sustainable development and counteract the trend of resource depletion and environmental degradation, it is essential to implement green growth strategies
• Utilizing environmentally friendly construction materials is crucial in mitigating global warming. Cement production, the primary contributor to embodied carbon in the built environment, is responsible for approximately 7% of global CO2 emissions. The carbon dioxide (CO₂) emissions associated with building materials and construction practices throughout the lifecycle of a structure are referred to as embodied carbon
• The United States has established a target to achieve a 50% reduction in the carbon footprint of all buildings by 2035. The most straightforward approach to decrease the embodied carbon footprint is by incorporating these eco-friendly materials in construction

Key Findings of Market Report

• Green building technologies contribute to the development of building structures that are both efficient and environmentally conscious.
• The construction of such structures necessitates the utilization of construction materials known as "green building materials
• A green building's sustainability and effectiveness stem from the materials employed in its construction, spanning from inception to dismantling
• Certain materials are selected or manufactured because they necessitate lower energy consumption for their production

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Few of key developments by the players in this market are:

Global Green Building Materials Market Segmentation 

Application

Framing, Insulation, Roofing, Exterior Siding, Interior Finishing, Others

End User

Public Facilities, Education, Commercial and Industrial, Healthcare, R&D Centers, Residential, Others

Region

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Global Green Building Materials Market: Key Players

• In addition to seeking to establish product distinction, eco-friendly packaging options are embraced in response to any evolving government laws. Market participants are using a variety of tactics to maintain their competitive edge. Companies operating in this industry pursue a number of objectives, including conducting comprehensive research and developing inventive packaging solutions.
• Numerous public and private groups are working hard to promote the use of eco-friendly packaging among consumers and company owners, respectively. Many businesses are launching fresh, creative, and affordable lines of eco-friendly building supplies that should significantly lessen the effects.

The following companies are well-known participants in the global green building materials market:

Alumasc Group Plc, Amvik Systems, BASF SE, Bauder Limited, Binderholz GmbH, CertainTeed Corporation, DuPont de Nemours Inc., Forbo International SA, Interface Inc., Kingspan Group PLC, Lafarge, National Fiber, Owens Corning, PPG Industries, RedBuilt, LLC, Reward Wall Systems,Structurlam Products Ltd

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