Surge in Eco-Friendly Building Materials Driving Green Building Materials Market at 12% CAGR by 2031

WESTFORD, MASSACHUSETTS, UNITED STATES, August 20, 2024 /EINPresswire.com/ -- Green Building Materials Market was valued at USD 379.57 billion in 2022 and is expected to rise from USD 425.12 billion in 2023 to reach a value of USD 1052.58 billion by 2031, at a CAGR of 12% during the forecast period (2024–2031).

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Green building materials help to mitigate the effects of global warming by having a smaller carbon footprint. Furthermore, these require less water and are simpler to maintain than their equivalents. Growing product demand as a result of numerous financial and environmental advantages is anticipated to fuel industry growth over the projected period.

The need for sustainable construction methods, growing environmental consciousness, and government restrictions are all contributing to the strong expansion of the global market for green building materials. Some major trends include the adoption of green materials, advancements in green technologies, as well as the integration of recycled and renewable resources into architectural designs.

Green Building Materials Market Top Player’s Company Profiles

• Alumasc Group plc.
• Bauder Ltd.
• Wienerberger AG
• Binderholz GmbH
• Homasote Company
• CertainTeed Corporation
• RedBuilt LLC
• Forbo International SA
• PPG Industries, Inc.
• LG Hausys Ltd.
• Kingspan Limited

Rise of Recycled Concrete and Sustainable Insulation Products

The following are the key Green Building Materials Trends that will shape the growth of the market in the next 5 years

• The multinational construction conglomerate Skanska declared in July 2024 that it will invest $500 million in environmentally friendly building materials, with the goal of obtaining 80% of its products from sustainable suppliers by 2028. This big step is anticipated to spur market expansion and establish new global industry benchmarks for environmentally friendly building techniques.

• In June 2024, the rise in eco-friendly construction materials in Asia Pacific region, mainly driven by China and India’s increasing demand for green building components has seen much progress as far as recycled concrete and eco-insulating products are concerned. Urbanization and environmental regulations are anticipated to drive the massive expansion hence companies like LafargeHolcim and Kingspan are on the path of growth.

Segments covered in Green Building Materials Market are as follows:
• Product
o Structural, Interior, Exterior, and Others

• Application
o Exterior siding, Interior Finishing, Insulation, Framing, Roofing, and Others

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Votorantim Cimentos’ Innovations in Sustainable Concrete

• August of 2024 With a focus on low-carbon concrete and sustainable aggregates, the German construction company 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 that is likely to increase the market demand of the whole building industry towards green construction.

• As of May 2024, Brazil has been experiencing increasing urbanization along with rising need for eco-friendly constructions materials. A classic illustration of such companies is Votorantim Cimentos that leads the way in sustainable concrete technology. With increasing urban populations in Brazil, transformative green construction innovations are expected to drastically change the industry and significantly shape its growth trajectory for the coming ten years.

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International Investments Shaping Next Era of Sustainable Construction

In September 2024, Saint-Gobain, a multinational corporation announced its €300 million programme for enhancing the smart glass technologies as well as energy effectiveness in buildings. Besides, Daiwa House of Japan is making investments in green roofing materials with a target of reducing urban heat islands by 50% by 2026. Consequently, Tesla’s Solar Roof technology has increased solar integrated building materials in the US. All these factors are an indication of a radical transformation towards global market in green building materials that may hasten developments while establishing new norms on energy efficiency and sustainability within construction during coming years.
Multinational Investments and Technological Innovations Are Redefining Sustainable Building Materials
Major firms like Skanska, HeidelbergCement, and Saint-Gobain are driving enormous investments and innovations that are transforming the global market for green building materials. Advances in solar-integrated materials, low-carbon concrete, sustainable aggregates and intelligent glass technologies are creating new benchmarks for sustainability and energy efficiency. The construction industry is likely to become greener with tougher environmental regulations especially considering urbanization is escalating. These changes are projected over the next decade to entail major improvements in construction techniques, massive increases in market growth as well as promotion of a more sustainable construction climate.

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