The market is expanding due to rising demand for energy-efficient buildings, increased demand for isolation, and favorable government policies for green buildings.
JERSEY CITY, N.J., Nov. 3, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Green Building Materials Market" By Product (Exterior, Interior, Structural), By Application (Exterior Siding, Framing, Insulation), and By Geography. According to Verified Market Research, the Global Green Building Materials Market size was valued at USD 256.51 Billion in 2020 and is projected to reach USD 653.41 Billion by 2028, growing at a CAGR of 10.5% from 2021 to 2028.
The building and construction industry accounts for more than two-thirds of total greenhouse gas release globally. As a result, there is a huge opportunity to reduce greenhouse gas release by improving the energy efficiency of buildings and communities. Greenhouse gas release can be reduced by constructing new green buildings with low energy consumption and retrofitting existing facilities. Green building construction in the residential market is increasing as a result of an improvement in the number of building regulations and policies requiring energy-efficient systems.
This has resulted in the growth of a market for environmentally friendly and energy-efficient materials used in residential construction. With rising public awareness and income levels, the use of green building materials, including the growing trend of energy-efficient structures in high-rise residential buildings and townships, is expected to drive demand for green building materials in the coming years.
However, in the green building construction market, a wide range of cost issues and market barriers exist, including the "split opportunity" restriction, which means that house owners do not make effective holdings in their properties because the residents benefit from these investment opportunities rather than the stakeholders. Renting or leasing is used by 40% of commercial buildings and 32% of households.
In April 2021, Kingspan launches the inaugural Planet Passionate Sustainability Report and targets net zero carbon manufacturing by 2030.
In September 2021, BASF and leading multinational automobile safety glass manufacturer Fuyao Glass Industry Group Co., Ltd. (Fuyao Group) signed a strategic cooperation agreement to include the co-creation of new business development for the automotive industry into its existing scope of the partnership.
In July 2021, BASF and Porsche partner to develop high-performing lithium-ion batteries for electric vehicles
The major players in the market are Kingspan Group plc, Amvik Systems, BASF SE, Alumasc Group Plc, Bauder Limited, Binderholz GmbH, E. I. du Pont de Nemours and Company, Forbo International SA, Interface Inc., and Owens Corning.
Verified Market Research has segmented the Global Green Building Materials Market On the basis of Product, Application, and Geography.
Green Building Materials Market, By Product
Green Building Materials Market, By Application
Green Building Materials Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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