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The green building materials market is expected to be worth US$467 billion by 2026; Increase construction activities to support industry growth

DUBAI, United Arab Emirates, March 10, 2022 (GLOBE NEWSWIRE) — According to a recent analysis released by the IMF, the green building materials system the industry is expected to thrive at a robust CAGR of 11.8%, reaching US$823 billion by 2032 from US$265 billion in 2021.

Green building materials play a vital role in the growth of such structures. From design to demolition, green building materials are necessary for sustainability and efficiency.

Manufacturers are primarily concerned with the creation of conventional consumer goods. Customizations based on customer preferences, on the other hand, are expected to be the way forward, driving the demand for the green building materials market.

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Due to the sustainable growth and decreasing difficulties from environmental degradation and depletion of natural resources, green building materials are becoming more and more popular, leading to market adoption. ecological building materials.

Low operating and maintenance costs and the pressure of environmental regulations regarding emissions are the major drivers of the global market for green building materials.

Additionally, governments in developed countries have put in place regulations and incentives to encourage green building, which has helped the market grow.

Attributes

Details

CAGR of Green Building Materials Market (2022-2032)

11.8%

Green Building Materials Market (2026)

US$467 billion

Attraction of the green building materials market

Increase in demand for energy efficient constructions, increase in construction of buildings in the developing region and awareness programs launched by governments regarding renewable solutions

Key points to remember

  • Insulation is expected to be the fastest growing application, growing 11.7% over the projected period due to its excellent energy efficiency and increased focus on installing insulation solutions. interior insulation.

  • Green building materials are needed to combat the health risks posed by climate change, pollution and carbon footprints. It has been found that the use of green building materials in the construction industry significantly reduces carbon dioxide (CO2) emissions.

  • The Indian government has encouraged green building, such as the Green Rating for Integrated Habitat Assessment (GRIHA). He demanded that all central government and public sector buildings receive at least a 3-star rating under the GRIHA, thereby improving sales of green building materials.

  • The future of green building technology offers several options to repair the damage done to the world and the environment. Building materials that retain air purification materials, micro-grids, net-zero structures, and smart glass are just a few of them.

  • North America holds a major share of the green building materials market. The booming green building materials market in the region is boosted by strict rules on the use of environmentally friendly products in the construction industry.

  • Exposed to extreme weather conditions and government initiatives, Asia-Pacific and Latin America are also witnessing increased demand for green building materials market and are likely to be very attractive markets for building materials. ecological.

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Key segments

By type:

  • Of construction

  • Interior

  • Outside

  • Others

Per application:

Per end user:

By region:

  • North America

  • Latin America

  • Asia Pacific

  • Europe

  • Middle East and Africa

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Competitive landscape

Acoustical Surfaces, Cemex SA, Green Build Products, Cold Mix Manufacturing Corp, Green Build Products, Green Fiber LLC, National Fiber Technology LLC and Novagard Solutions are among the key players in the green building materials market.

Some of the growth strategies identified include mergers and acquisitions, trends and analysis relating to strategic collaboration between partners, as well as mutual agreements and partnerships.

To strengthen their geographic footprint, top players are using new product launch tactics.

  • Sika has announced its intent to purchase from MBCC Group consumers in November 2021 to accelerate its growth strategy and strengthen its position as a global sustainability champion in the construction industry.

  • SmartLam North America and RedBuilt established a cooperation in May 2020 to provide cross-laminated timber (CLT) supplies and solutions to architects, engineers and contractors working on projects using popular mass timber construction technology.

  • In the Pacific Northwest, West Coast and Southwest, which encompasses nine states, RedBuilt will be the sole distributor of SmartLam CLT.

  • The use of natural resources has been strained by the increase in world population and increasing urbanization. A concept of sustainable growth and lowering the stakes of environmental degradation and depletion of natural resources, green building materials are increasingly popular.

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