Green Building Materials Market Share, Future Prospects And Opportunities Till 2028

Green building materials are an eco- friendly solution as they are generated from recyclable goods. Green building substances are ideal construction substances as they assist in conserving non-renewable resources and also decrease environmental effect. Furthermore, green building materials are a robust and energy-efficient method that makes them appropriate for making several organization.

The global green building materials market is evaluated to be esteemed at US$ 259.41 million in 2021 and is anticipated to show a CAGR of 10.5 % during the predicted timeline (2021-2028).

·         7^th April 2021 lafarge Egypt a member of LafargeHolciam group has advanced an ecolabel cement for the first time in Egypt .This new goods of the company fulfil with the green criteria of the organization and decreases the carbon footprint and recycled content.

·         17^th November 2020, UK based Lhoist group has advanced ‘Tradical Hemcrete’which is utilized for the structure of the walls, in the restoration of old buildings or as an insulating substances which is low energy price in usage and biodegradable.

·         15^th January 2020,A Newer type of wood is established which is known as’uh wood ‘which is utilized as a new building material which can be assisted for decreasing GHG(greenhouse gas )

North America holds dominant place in the global green building materials market in 2020, hold for 35.1 % share in terms of value, after Europe and Asia Pacific respectively.

The rising transit towards green building is anticipated to fuel the market growth of green building materials. For instance, rising activities by North America Commission for substituting conventional substances with green building technology is propelling the market growth. As per the CMI analysis, countries such as the U.K., Singapore, and the UAE responsible for around 50.0% of green building activities. Also, rising facelift and creation of new infrastructure is again fueling the need for green building materials over all these regions.

Rising Federal assistance for huge performance and maintainable building is propelling the market development. For examples, in January 2006, federal agencies contracted a memorandum about their guidance in huge performance and sustainable building creation. As per the memorandum, the interventions will be executing the rules set by the EO 13423 about the green building concept in their new constructions and major revamps. The act later focuses to execute the similar rules in at least 15.0% of the current constructions and leases by the fiscal year 2015. 

Rising retrofits and renewals over evolving and developed regions is anticipated to provide profitable market chances during the predicted duration. For instance, the U.K. has a huge number of old infrastructure such as office developments, school buildings, etc. This is anticipated to make probable market opportunities for the major players situated in the Europe region. Thus rising retrofits and renovations is expected to fuel the market development.

Rising awareness regarding recycled construction is anticipated to provide lucrative market opportunities during the predicted timeline. Rising official rules and regulations to compensate the usage of green building materials is again anticipated to boost market development. The rising works of green building in residential areas owing to the rising need for energy-efficient structures is further boosting the market development of the green building materials during the predicted timeline. 

Inner green building materials is achieving adhesion in the market. The benefit such as superior aesthetics, improved lighting, and enhanced indoor air quality provided by interior materials is propelling the market development. Furthermore, interior materials are also helpful in regulating humidity and allow better control over air quality. All these reasons are expected to boost the market development of the green building materials over the estimated timeline.

Rising deals and collaboration among the key players for enhancing the usage of green building materials is anticipated to assist the market development during the predicted timeline. For example, in October 2020, The Confederation of Indian (CII) Industry's Indian Green Building Council (CII - IGBC) signed a MoU with the National Real Estate Development Council to propel the green buildings movement in India.

Huge cost and several reasons linked with market perception is anticipated to hinder product requirement. This is anticipated to impede the market growth of green building materials.

The impact of COVID-19 on the market and the huge capital spending needed as compared to traditional buildings is anticipated to hamper the market growth of the green building materials.

Key players involved in the green buildings market are Alumasc Group Plc, Binderholz GmbH, Amvik Systems, Bauder Limited, CertainTeed Corporation, E. I. du Pont de Nemours and Company, BASF SE, Interface Inc., Forbo International SA, Kingspan Group plc, Lafarge and Lhoist UK Ltd/Tradical.