Green Building Materials Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
Green Building Materials Market size is expected to be valued at US$365.2 billion by the end of the year 2026 and is set to grow at a CAGR of 11.4% during the forecast period from 2021-2026. Environmental regulations requiring companies to follow environmental sustainability and use eco friendly products and practices is one of the major factors driving the demand for the green building materials market. Increase in demand for energy efficient building materials is giving rise to the demand for LEED buildings (Leadership in Energy and Environmental Design) which takes into account few significant factors such as the location of the building, energy efficient lighting and HVAC systems, indoor air quality and others that enable in achieving sustainable structures in building and construction industry. The green buildings materials market helps in attaining sustainable living which is also promoting green building materials among environmental activists and enthusiasts.
COVID-19 impact
Amid the Covid-19 pandemic, the green building materials market witnessed a major downfall in the growth and demand owing to the various economic and legal restrictions imposed in countries across the world. There were many restrictions owing to the covid-19 pandemic. This halted many activities across the globe which affected the operations and activities of the green building materials market. The green building materials market incurred heavy losses during the beginning of the year 2020. The green building materials market is however expected to grow by the year end of 2021.
Report Coverage
The report: “Green Building Materials Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Green Building Materials Industry.
By Type: Exterior Products, Interior Products, Building Systems, Solar Products and Others.
By Application: Interior Finishing, Flooring and Roofing, Waterproofing systems, Sealing and Bonding, Refurbishment, Insulation, Framing and Others.
By End-Use Industry: Building & Construction and Infrastructure.
By Geography: North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
North American market held the largest share in the green building materials market owing to the increase in the awareness for sustainable building products in countries like USA, Canada and Mexico.
The increasing awareness in regards to sustainable living among environmental activists and enthusiasts is driving the demand for green building materials market.
The increasing regulations and standards set by international regulatory bodies is contributing to the growth of the green building materials market.
Amid the Covid-19 pandemic, the green building materials market witnessed a major downfall due to the various restrictions laid down by countries across the globe.
Green Building Materials Market Segment Analysis – By Type
Building systems segment held the largest share in the green building materials market in the year 2020. Building systems include the whole procedure and process involved in constructing a sustainable structure of building. Green building materials in building systems include materials like reclaimed wood, bamboo, mycelium and others. Building systems involves decisions regarding electricity installation, plumbing, gas piping, fire protection, sewer systems. The increase in demand from the individual customers for installation and use of green building materials for sustainable living is also contributing to the demand for green building materials market.
North American market held the largest share in the green building materials market owing to the increase in the awareness for sustainable building products in countries like USA, Canada and Mexico.
The increasing awareness in regards to sustainable living among environmental activists and enthusiasts is driving the demand for green building materials market.
The increasing regulations and standards set by international regulatory bodies is contributing to the growth of the green building materials market.
Amid the Covid-19 pandemic, the green building materials market witnessed a major downfall due to the various restrictions laid down by countries across the globe.
Green Building Materials Market Segment Analysis – By Type
Building systems segment held the largest share in the green building materials market in the year 2020. Building systems include the whole procedure and process involved in constructing a sustainable structure of building. Green building materials in building systems include materials like reclaimed wood, bamboo, mycelium and others. Building systems involves decisions regarding electricity installation, plumbing, gas piping, fire protection, sewer systems. The increase in demand from the individual customers for installation and use of green building materials for sustainable living is also contributing to the demand for green building materials market.
Green Building Materials Market Segment Analysis – By Application
Interior finishing segment held the largest share of 32% in the green building materials market in the year 2020. The increase in demand from commercial users and residential users for promoting sustainable living is increasing demand for green building materials from interior finishing segment. There has been a drastic change in the adoption of green building materials for interior designing such as electrical working, lighting applications and for improving the indoor air quality. This is increasing the demand for green building materials from the interior finishing segment of the green building materials market.
Green Building Materials Market Segment Analysis – By End-Use Industry
Building and construction industry held the largest share in the green building materials market in the year 2020 with a growing CAGR of 11.9% during the forecast period 2021-2026. The increase in the number of construction activities is majorly driving the demand for green building materials market. For instance, according to the World Bank, the cost of expenditure in the construction industry across the world was estimated to reach US$11.9 trillion in the year 2020, which is an increase of 4.2% as compared to the previous year expenditure. The increase in the activities in the building and construction sector coupled with the wide scope of application of green building materials in various applications like flooring, roofing, interior designing and others in the building and construction sector is driving the demand for green building materials market.
Green Building Materials Market Segment Analysis – By Geography
North American region held the largest share of 34% in the green building materials market in the year 2020. The highly developed building and construction sector in the region coupled with the growing awareness regarding environmental sustainability and sustainable living is driving the demand for green building materials market in the region. The Vancouver convention center in Canada is a prominent LEED building in Canada and is the first v4 Platinum Existing Building project to be certified in Canada. The increasing adoption of LEED buildings for the construction of sustainable structures in the region is driving the demand for green building materials market in the North American region.
Green Building Materials Market Drivers
Increasing awareness towards environmentally friendly practices
The increasing awareness about environmental concerns in the recent times is one of the significant factors driving the demand for green building materials market. LEED building is a widely used green building rating system. The increase in building sustainable structures with eco friendly products to minimize carbon footprint is increasing the demand for green building materials market. According to U.S. Green Building Council, LEED has become the most prominent green building rating system in the world. The LEED system currently has around 80,000 projects in across 162 countries. It also includes more than 32,500 certified commercial projects. This is driving the demand for green building materials across the globe.
Government initiatives and incentives
The government of many countries has introduced various initiatives and incentives for the construction of green buildings. This is driving the demand for green building materials market across the world. For example, the Industries & Commerce Department of Andhra Pradesh, India offers 25% subsidy on total capital investment of the project for buildings obtain green rating from Indian Green Building Council. The European Commission has set a target for reducing emission by at least 55% by the year 2030. European Commission also estimated that 160,000 additional green jobs could be created in the construction sector by 2030. These are some of the factors driving the green building materials market across the globe.
Green Building Materials Market Challenges
High capital investment and market barriers
The high capital investments involved in investing in green building materials is one of the biggest challenges to the green building materials market. Green building materials are alternatives for mainstream building materials, and therefore it needs to be of really good quality. Therefore, green building materials are pretty expensive. Furthermore, there are very less companies in the market doing work related to green building and green construction policy, as it requires expertise on the subject matter. This is majorly hampering the growth of the green building materials market.
Green Building Materials Market Industry Outlook
Investments, acquisitions and mergers, production expansion, facility expansion collaborations and partnerships are some of the key strategies adopted by players in the Green Building Materials Market. Major players in the Green Building Materials Market include
PPG Industries
E. I. du Pont de Nemours and Company
Forbo International SA
Interface Inc.
Kingspan Group plc
Lafarge
BASF SE
Owens Corning
National Fiber
RedBuilt LLC
CertainTeed Corporation
Binderholz GmbH
Bauder Limited
Alumasc Group
Acquisitions/Technology Launches
In 16 July 2020, Canadian green construction technology company, Nexii Building Solutions Inc. announced new manufacturing units across North America. This was done to accelerate its new green construction technologies in order to meet the increasing customer demand.
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