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Green Building Materials Global Market Report 2021: COVID-19 Growth And Change

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Major players in the green building materials market are CertainTeed Corporation, Amvic Building Systems, Forbo International SA, Homasote Company, Interface Inc. , Bauder Ltd. , Binderholz GmbH, Kingspan Group plc, LG Hausys Ltd.

New York, Aug. 26, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Green Building Materials Global Market Report 2021: COVID-19 Growth And Change" -
, Owens Corning, RedBuilt LLC, Andersen Corporation, Armstrong World Industries Inc., Cemex, Chengdu Onekin Green building materials Co. Ltd., Ecostar LLC, Firestone Building Products Company LLC, Fletcher Insulation Pty Limited, Johns Manville Corporation, Knauf Insulation Ltd., LIXIL Group Corporation, and Marvin Windows and Doors Inc.

The global green building materials market is expected to grow from $216.99 billion in 2020 to $238.91 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the growing awareness about environmental sustainability which is driving the demand for green building materials. The market is expected to reach $383.85 billion in 2025 at a CAGR of 12.6%.

The green building materials market consists of sales of green building materials by entities (organizations, sole traders, or partnerships) manufacture eco-friendly, durable, and renewable green building materials.Green building materials are defined as those materials which are both locally sourced and renewable.

Green building materials use less water and are easier to maintain than traditional building materials, and they improve the sustainability and efficiency of a building because of a lower carbon footprint.

The main types of green building materials are structural, exterior, interior, and others. It is used in framing, insulation, roofing, exterior siding, interior finishing, others and is implemented in various sectors such as residential buildings, non-residential buildings.

North America was the largest region in the green building materials market in 2020.Asia Pacific was expected to be the fastest region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The introduction to environment-friendly products is gaining significant popularity in the green building materials market.Major participants in the green building materials industry are concentrating on launching new product lines that minimize the global warming potential (GWP) without compromising product quality.

For instance, in August 2020, Owens Corning, a US-based building and industrial materials company introduced a new product line FOAMULAR NGX (Next Generation Extruded) in the USA and Canada. This innovative range of extruded polystyrene (XPS) foam products in the new product line uses a patented blowing agent that reduces the global warming potential (GWP) by 90% without affecting product quality.

In December 2020, Armstrong World Industries, a US-based designer, acquired Arktura for an undisclosed amount.Through this acquisition, Armstrong World Industries further strengthens its robust portfolio of architectural specialty solutions, as well as its design capabilities across its entire enterprise.

Arktura is a US-based manufacturer of architectural systems and custom solutions with a strong emphasis on green practices and sustainability.

The increasing demand for green buildings is expected to drive the growth of the green building materials market in the coming years.Green building is the discipline of designing structures and employing procedures from site selection to design, construction, operation, service, remodeling, and deconstruction that are ecologically responsible and resource-efficient.

As green building materials are utilized to produce green buildings, the demand for green building materials is also expanding.For instance, according to a 2019 global survey conducted by World Green Building Trends Smart Market Study, nearly half of all respondents intend to construct more than 60% of their buildings as green buildings by 2021.

According to the same survey, green building is also gaining popularity among building owners, with 57% expecting to make the bulk of their constructions green by 2021.

The countries covered in the green building materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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