WESTFORD, MASSACHUSETTS, UNITED STATES, August 20, 2024 /EINPresswire.com/ — The Green Building Materials Market was valued at USD 379.57 billion in 2022 and is expected to grow from USD 425.12 billion in 2023 to reach a value of USD 1052.58 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 12% during the forecast period (2024-2031).
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Green building materials help mitigate the impact of global warming as they leave a lower carbon footprint. Moreover, they require less water and are easier to maintain than comparable building materials. Increasing product demand due to numerous financial and environmental benefits is expected to boost industry growth during the forecast period.
The need for sustainable construction methods, growing environmental awareness, and government restrictions are all contributing to the strong expansion of the global green building materials market. Key trends include the use of eco-friendly materials, advancements in green technologies, and the integration of recycled and renewable resources into architectural designs.
Company profiles of the top players in the green building materials market
• Alumasc Group plc.
• Bauder Ltd.
• Wienerberger AG
• Binderholz GmbH
• Homasote Companies
• CertainTeed Corporation
• RedBuilt LLC
• Forbo International SA
• PPG Industries, Inc.
• LG Hausys Ltd.
• Kingspan Limited
Rise of recycled concrete and sustainable insulation products
Below are the key trends in green building materials that will shape the market growth over the next five years.
• Multinational construction group Skanska announced in July 2024 that it would invest $500 million in green building materials, with the goal of sourcing 80% of its products from sustainable suppliers by 2028. This major move is expected to spur market expansion and set new global industry standards for green building techniques.
• In June 2024, the rise of green building materials in Asia Pacific, mainly driven by China and India’s increasing demand for green building components, has made great progress in recycled concrete and eco-insulation products. Urbanization and environmental regulations are expected to drive massive expansion, so companies like LafargeHolcim and Kingspan are poised for growth.
The segments covered in the green building materials market are as follows:
• Product
o Structural, Interior, Exterior and Other
• Application
o Exterior cladding, interior fittings, insulation, framing, roofing and other
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Votorantim Cimentos’ innovations in sustainable concrete
• August 2024 With a focus on low-carbon concrete and sustainable aggregates, German construction group HeidelbergCement has announced a strategic investment of €400 million in cutting-edge green building materials. This global market trend is supported by a long-term plan for a period of 10 years, which is likely to increase the market demand for green construction across the entire construction industry.
• Since May 2024, Brazil has been experiencing increasing urbanization and, with it, a growing need for green building materials. A classic example of such companies is Votorantim Cimentos, which is a leader in sustainable concrete technology. With Brazil’s growing urban population, breakthrough innovations in green construction are expected to drastically transform the industry and significantly shape its growth curve for the next decade.
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International investments are shaping the next era of sustainable construction
In September 2024, the multinational Saint-Gobain announced its €300 million program to improve smart glass technologies as well as the energy efficiency of buildings. In addition, the Japanese company Daiwa House is investing in green roofing materials with the aim of reducing urban heat islands by 50% by 2026. Consequently, Tesla’s solar roof technology has increased the use of solar-integrated building materials in the US. All these factors point to a radical transformation towards a global green building materials market that could accelerate development and establish new standards of energy efficiency and sustainability in construction in the coming years.
Multinational investments and technological innovations are redefining sustainable building materials
Major companies such as Skanska, HeidelbergCement and Saint-Gobain are driving huge investments and innovations that are transforming the global green building materials market. Advances in solar-integrated materials, low-carbon concrete, sustainable aggregates and smart glass technologies are setting new standards for sustainability and energy efficiency. The construction industry is likely to become greener through stricter environmental regulations, especially in light of increasing urbanization. These changes are expected to bring significant improvements in construction techniques, massive increases in market growth, as well as the promotion of a more sustainable building climate over the next decade.
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