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The growth in this market is driven by the rising need for energy-efficient building solutions and the increasing acceptance of green materials across industries. Furthermore, government policies worldwide are promoting sustainable construction. However, the relatively higher upfront costs associated with green building materials may present challenges to market growth.
Despite this, the industry’s future looks bright, especially as environmental sustainability becomes a higher priority for businesses and governments alike. Nevertheless, one of the key obstacles for market players is the general lack of awareness regarding the benefits of green building materials.
The market is segmented by type, which includes recycled materials (such as recycled steel, glass, and plastic), natural materials (like bamboo and cork), and other green materials. Recycled materials are expected to dominate the market with a share exceeding 54.0% in 2024, owing to government incentives that encourage recycling and the use of sustainable materials in construction.
By product, the market is divided into exterior, interior, solar, and other products. The exterior product segment is set to capture over 43.0% of the market in 2024, driven by increasing demand for energy-efficient and environmentally friendly exterior building solutions like high-performance insulation and reflective roofing.
In terms of applications, roofing is expected to hold over 40.0% of the market in 2024. This growth is attributed to the increasing adoption of energy-efficient roofing materials, particularly in the residential sector, as homeowners become more aware of their environmental impact and seek energy savings.
The market is also segmented by sector, including residential, commercial, and others. The residential sector is anticipated to hold the largest share of over 42.0% in 2024, spurred by increasing demand for insulation and energy-efficient buildings. This sector is also projected to experience the highest growth during the forecast period.
Regionally, North America is expected to dominate the market with a share of over 35.0% in 2024. This is due to the presence of major industry players like DuPont and PPG Industries, as well as strong government support for green building initiatives. Additionally, the U.S. General Services Administration (GSA) has committed $2 billion to construction projects using low-carbon materials. Meanwhile, the Asia-Pacific region is expected to record the highest CAGR of 11.0%, driven by infrastructure development and supportive policies for green buildings in countries like Japan, South Korea, and India.
Key Players
The key players operating in the green building materials market are DuPont de Nemours, Inc. (U.S.), Holcim Group (Switzerland), Interface Inc. (U.S.), Kingspan Group plc (Ireland), Owens Corning (U.S.), PPG Industries, Inc. (U.S.), Sika AG (Switzerland), Bauder Ltd. (U.K.), Amvic Inc. (copyright), Binderholz GmbH (Germany), Alumasc Group Plc (U.K.), BASF SE (Germany), CertainTeed, LLC. (U.S.), Forbo International SA (Switzerland), and LG Hausys Ltd (South Korea).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of material, product, application, and sector?
- What was the historical market size for green building materials globally?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the green building materials market?
- Who are the major players in the green building materials market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the green building materials market?
- What are the various growth strategies adopted by major market players?
- What are the major market trends, and which are the high-growth countries?
- Who are the local emerging players in the green building materials market, and how do they compete with other players?
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