(MENAFN- PR Newswire) NEW YORK, April 15, 2024 /PRNewswire/ -- The global green building materials market market size is estimated to grow by USD 273 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of about 13.81% during the forecast period. Green building materials market encompasses high-end, energy-efficient materials and advanced technologies, including recycled construction, insulation, personal safety, fiber cement, thermally modified, bamboo, fly ash, hempcrete, natural fibers, jute, wool, terrazzo, recycled concrete, stucco, stone, rubber-based materials, ashcrete, and ecofriendly products. These materials offer energy conservation, consumer awareness, sustainability, efficiency, and health benefits. However, their high initial cost, due to increased A and E design time, modeling costs, and sustainable building practice integration, poses a challenge for SMEs and larger construction firms in the residential, commercial, infrastructure, and industrial sectors. Key market segments include exterior siding, interior finishing, and product lines, focusing on energy-efficient buildings, water conservation, public awareness, pollution reduction, natural energy, and carbon emissions reduction.
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![Technavio has announced its latest market research report titled Global Green Building Materials Market Market 2023-2027]( "Technavio has announced its latest market research report titled Global Green Building Materials Market Market 2023-2027")
Technavio has announced its latest market research report titled Global Green Building Materials Market Market 2023-2027 To understand more about this market-
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The Application segment emerges as the fastest-growing segment in the green building materials market market
The residential segment of the global green building materials market is experiencing robust growth, driven by consumer awareness and demand for sustainable solutions in urban settlements. Green roofing materials, such as fiber cement and thermally modified roofing, play a crucial role in energy conservation and carbon neutrality. The sustainable flooring segment, including bamboo, fly ash, hempcrete, and recycled concrete, contributes to sustainable development through energy efficiency and resource conservation. Insulation materials, like natural fibers (jute, wool) and recycled materials, serve as essential energysaving measures, reducing energy consumption and improving indoor air quality. Green building materials offer financial benefits, including lower maintenance costs and increased property value. Urban settlements are embracing energy-efficient construction through the use of green materials in roofing, framing, and insulation. Consumer awareness and public interest in sustainability, pollution reduction, and natural energy continue to fuel market expansion.
The European green building materials market is driven by the demand for energy-efficient and sustainable structures, with a focus on ecological balance and resource efficiency. Key materials include bamboo rammed earth, wood concrete, and grass concrete. Renewable waste and recycled materials, such as fly ash, hempcrete, and fiber cement, are also gaining popularity. Green buildings, designed with sustainability in mind, address environmental problems like air pollution and anomalous climate. Urban settlements benefit from green-certified buildings, green roofing materials, and insulation segments, which serve as energysaving measures. The residential segment and energy-efficient construction are major markets, offering financial benefits and personal safety. Sustainable processes, such as thermally modified bamboo and recycled concrete, contribute to carbon neutrality and sustainable development. Natural fibers, like jute, wool, and recycled materials, are also used in flooring and framing.
Commenting on the market trends, a Senior Analyst of Technavio, stated," The green building materials market has seen advancements in insulation, with Styrofoam board and spray foam gaining popularity. Manufacturers focus on low-emission blowing agents for foam insulation to mitigate environmental concerns. Keywords: environmental impact, manufacturing, recycling, disposal, sustainable building, renewable resources, greenhouse emissions, wood, straw hemp concrete, recycled plastic, ferrock, mycelium, straw bales, bamboo rammed, ecological balance, efficiency, green buildings, resource-efficient, ecologically responsible, green-certified buildings. Foam insulation's environmental issues stem from high-emission blowing agents, leading to the development of lower emission alternatives."
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Analyst Review
The Green Building Materials Market is experiencing significant growth due to the increasing demand for environmentally friendly solutions in the construction industry. This market encompasses various segments, including extraction, fabrication, and manufacturing of resource-efficient materials. Key materials in this market are Wool, Recycled materials such as Terrazzo, Recycled concrete, Stucco, Stone, Rubberbased materials, and Ashcrete. These eco-friendly products are used in designing structures, green roofing materials, insulation segment, and flooring segment. The use of these materials contributes to sustainable development in urban settlements by reducing environmental impact during extraction, fabrication, and disposal. Construction manufacturers are focusing on green-certified buildings and energy-saving measures to meet the demands of the market. The residential segment is a major consumer of energy-efficient construction materials, driving the market forward.
Market Overview
The Green Building Materials Market is experiencing significant growth due to the increasing awareness of sustainability and energy efficiency. The use of renewable and recycled materials in construction is becoming more prevalent, with concrete and steel leading the way. Recycled plastic, wood, and glass are also gaining popularity. The European Union and the US are major contributors to the market, with China expected to become a key player in the near future. The market is driven by factors such as government regulations, consumer demand, and technological advancements. The use of advanced technologies like nanotechnology and biomimicry is revolutionizing the industry. The market is projected to reach a value of USD307.16 billion by 2025, growing at a CAGR of 11.1% during the forecast period. The major companies operating in the market include BASF SE, LafargeHolcim, and Saint-Gobain. The market is segmented by material type, application, and region. The use of green building materials is not only beneficial for the environment but also offers cost savings in the long run. The market is expected to continue its growth trajectory in the coming years.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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