Growing awareness of the health benefits of materials, increasing regulations regarding environmental emissions in construction applications are driving market growth
NEW YORK, NY, USA, November 1, 2021 /EINPresswire.com/ – The global green building materials market is expected to reach $ 573.91 billion by 2027, according to a new report from Reports and Data. Green construction is a technology for developing an infrastructure that respects the environment. The objective of these structures is to reduce the negative impacts of residential and commercial constructions on human health and the environment through better selection, construction, design, maintenance and disposal of sites as much as possible, throughout the life cycle. ecological building materials.
The positive effect of these materials on human health mainly drives the market. In addition, governments of various developed countries are facilitating high performance green buildings; the US Salvage and Reinvestment Act is one example. Due to frequent climate changes and extreme weather conditions, consumers prefer to adopt green roof technology to maintain the temperature inside the structure as well as to collect rainwater. However, the unavailability of high-performance and environmentally friendly green building materials and cost concerns are the major factors hampering the growth of the market.
The cost of constructing green buildings is higher than that of typical buildings. The market anticipates significant growth due to strict regulations enacted by the North American and European governments, which focus on green building technologies. In addition, attempts by various NGOs and companies to raise awareness for the adoption of sustainable technologies would boost the market for green building materials in the future.
The market exhibits increasing long term integration activity by the raw material suppliers due to the increasing demand and endless growth prospects of the market. The regional dominance of industry participants is expected to decline due to increasing demand for imports. This trend is expected to continue over the next few years and is expected to propel the growth of the market.
The impact of COVID-19:
The Covid-19 pandemic is expected to have a massive downward impact on the global green building materials market in 2020, the reason being the shutdown in residential and commercial construction applications, which are responsible for the significant demand. After the pandemic, however, the trends discussed in the study of the global market are continuing.
In addition, supply chain disruptions and production shutdowns have led to a deterioration in the prospects for the production of green building materials, which will have short-term impacts on market sales that could have lasting effects. . As the industry expects things to return to near-normal well before the end of 2020, the negative demand shock caused by the crisis is expected to last.
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Major participants include PPG Industries, Interface Inc., Kingspan Group Plc, Lafarge, Owens Corning, National Fiber, RedBuilt, LLC, Binderholz GmbH, Bauder Limited and Alumasc Group, among others.
Other key findings from the report suggest
• The exterior cladding segment is expected to grow at a significant rate of 11.5% during the forecast period, with increasing demand for smart lighting, solar products, building systems and HVAC systems.
• The falling cost of green buildings over time and the growing awareness of recycled construction are likely to generate opportunities for the residential construction market during the forecast period.
• North America has dominated the global market, with efforts and government regulations to mandate the use of green building materials and to raise awareness.
• The Asia-Pacific region is expected to experience significant growth in the global market during the forecast period. Southeast Asia has seen significant growth in the adoption of sustainable building practices. This is mainly attributed to growing concerns about national energy security and environmental degradation in several countries, such as Thailand, Hong Kong, Malaysia, Singapore and Indonesia.
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For the purpose of this report, reports and data have been segmented on the global Green Building Materials market on the basis of product, end-user industry, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
End User Industry Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
• Interior finish
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report explores in more detail the major business players along with their in-depth profiling, product portfolio and strategic business decisions. The report has been formulated through extensive primary and secondary research and validated by analysts, industry experts and market professionals. The report also highlights recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.
The regional analysis covers the assessment of imports / exports, production and consumption ratios, supply and demand, costs, prices, estimated revenues and gross margins, as well as the presence of key players in the region. The report also offers information on revenue growth, market size, market share, the technological advancement, and the presence of key players in each region.
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The regional bifurcation of the green building materials market includes:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of Latin America)
Middle East & Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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