“Green Building Materials Market by Product Type (Outdoor Products, Indoor Products, Building Systems, Solar Products and Others) and Application (Residential Buildings and Non-Residential Buildings): Global Opportunity Analysis and Market Forecast industry, 2021-2030″. According to the report, the global green building materials industry generated $237.3 billion in 2020 and is expected to generate $511.2 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.
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Main determinants of growth
The preference for green building materials over traditional materials in the construction industry and the advantages such as ease of maintenance and cost effectiveness are driving the growth of the global green building materials market. However, high manufacturing costs are hampering the growth of the market. On the other hand, supportive government policies in developed countries to encourage green building present new opportunities in the coming years.
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The outbreak of the Covid-19 pandemic has had a negative impact on the growth of the global green building materials market, due to a sharp decline in the demand for green building materials.
The pandemic has halted production facilities and disrupted the supply chain, due to the implementation of containment. This, in turn, has hampered the growth of the market.
However, the market is steadily recovering as construction activities have resumed.
The outdoor products segment to maintain its leading status throughout the forecast period
Based on product type, the outdoor products segment held the highest market share in 2020, accounting for more than one-third of the global green building materials market, and is expected to maintain its leading status throughout. the forecast period. Rising repair and maintenance activity, particularly in North America and Europe, is driving demand for outdoor products. However, the solar products segment is expected to show the highest CAGR of 9.5% from 2021 to 2030. Rising demand for more energy-efficient buildings and government laws and regulations conducive to a safer environment are driving the demand for products solar.
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The residential buildings segment to maintain its leading position during the forecast period
Based on applications, residential building segment accounted for the largest share in 2020, contributing more than half of the global green building materials market, and is expected to maintain its leading position during the forecast period. This is attributed to the increase in population and the increase in the number of building regulations and policies. However, the non-residential building segment is expected to show the highest CAGR of 8.7% from 2021 to 2030, owing to increasing industrialization and institutional focus on energy-efficient buildings. .
Europe, followed by North America, to maintain its dominance by 2030
Based on region, Europe, followed by North America, held the highest market share in terms of 2020 revenue, accounting for nearly two-fifths of the global green building materials market. Increased demand for green building materials from hospitality and leisure applications and increased focus on reducing building operation and maintenance costs is driving the market in the European region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.1% during the forecast period. The increase in construction activities due to the increase in population and the government’s emphasis on environmentally friendly buildings are driving the demand for green building materials in the region.
Main market players
Alumasc Group Plc (UK)
Amvik Systems (Canada)
BASF SE (Germany)
Bauder Limited (UK)
Binderholz GmbH (Germany)
EI du Pont de Nemours and Company (United States)
Forbo International AG (Switzerland)
Interface Inc. (USA)
Kingspan Group Plc (Ireland)
Owens Corning (USA)
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This press release was published on openPR.